Sales (accounting)
In
bookkeeping,
accounting, and
finance, sales are operating
revenues earned by a company when it sells its products. Sales are reported directly on the
income statement as Sales or Net sales. In financial ratios that use income statement sales values, "sales" refers to net sales, not
gross sales. Revenue is earned when goods are delivered or services are rendered. The term sales in a
marketing,
advertising or a general business context often refers to a
contract in which a buyer has agreed to purchase some products at a set time in the future. From an accounting standpoint, sales do not occur until the product is delivered. "Outstanding orders" refers to sales orders that have not been filled.
See more at Wikipedia.org...
net sales
Noun
1. gross sales reduced by customer discounts, returns, freight out, and allowances
(hypernym) income
Net sales
Gross sales less returns and allowances, freight out, and cash discounts allowed.
Net Sales
gross sales minus returns, discounts, and allowances;see also net margin.
Free Download Now!
