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Also on a companyâs income statement, net sales are the sales after all discounts, price adjustments and returns have been considered. This is sometimes simply referred to as revenue.his is because the operating income amount can show the amount of revenue that will become the profit for the company. It is the before tax and interest profit from the companyâs operations.
There are many gray areas in both recognition and reporting, but ultimately all earned income from sales transactions falls into gross or net categories. When gross revenue is recorded, all of the income from a sale is accounted for on the income statement. Net revenue is usually reported when there is a commission that needs to be recognized and/or when a supplier receives some of the sales revenue. Gross revenue reporting separates sales and cost of goods sold.