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The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any discounts allowed. The sales number reported on a company's financial statements is a net sales number, reflecting these deductions.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoNET SALES: Gross sales minus returns, discounts, and allowances.
GROSS SALES: Total invoice value of sales, before deducting for customer discounts, allowances, or returns.
Sagar Pradhan
Net sales are total revenue, less the cost of sales returns, allowances, and discounts.
The total revenues reported by a company on its income statement are usually the net sales figure, which means that all forms of sales and related deductions are aggregated into a single line item.
Net Sales = Gross Sales – Returns – Allowances – Discounts.
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Wiki User
∙ 9y agoNet sales means total sales less by returns and discounts granted to customers.
Wiki User
∙ 10y agoNet Sales = Sales (Revenue) - sales returns - discount allowed etc.
Wiki User
∙ 10y agoNet Sales = Sales (Revenue) - sales returns - discount allowed etc.
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What does gross and net mean?
Gross means 'before', net means 'after'. Gross profit = sales - cost of sales Net profit = sales - cost of sales - overheads (e.g. telephone, electricity) So gross profit is before deductions, whereas net profit is after all the deductions.
Is net sales and and net income the same thing?
Net sales and Net Income are not of the same thing. Net sales is sales less its contra accounts (sales returns and allowances, sales discounts). On the other hand, net income or profit is net sales less the expenses.
What is the formula for net sales?
Formula for net sales is as follows: Net sales = Actual sales - sales returns and discount allowed
How do calculate net sales?
Net sales = Total sales - sales returns and discounts
What do you use to figure sales tax your gross sales or net sales?
Net Sales..
How is net sales calucultaed?
Net sales = Total sales - Sales returns and allowances
How to compute net sales?
How to compute net sales?"
What is net cost?
sales sales revenue minus net sales revenue
What is rate of return on net sales ratio?
Rate of Return on Net Sales = (Net Income) / (Total Sales)
Net credit sales?
Is the same thing as Net Sales.
How do you calculate sales from net income percentage?
Sales can be calculated by using net income percentage because net income is always reported as a percentage of sales. For exmaple net income of 20 is a 20% of sales so sales will be as follows: 20% sales = net income Sales = Net income / 20 * 100 Sales = 20 /20 * 100 = 100 So Sales = 100
Is sales tax calculated on net sales or gross sales?
It depends on exactly what you mean, but generally, sales tax is figured on net sales. For instance, if you buy an item for $100, but you trade an item for it that is worth $25, you only pay sales tax on the difference of $75, not the entire $100.
