Net sales show the true revenue your business makes from selling products or services, after subtracting returns, allowances and discounts. To find net sales, begin with your total sales and ...

Net sales reflect all customer price reductions, discounts on goods, and any refunds paid to customers after the sale. These three deductions have a natural debit balance, while the gross sales ...

Non-taxable situation. Under the CRA's administrative policy, commissions that sales employees receive on merchandise they buy for personal use are not taxable.. Similarly, when a life insurance ...

To calculate net sales, you start with gross sales, which is the total revenue from all sales transactions before any deductions. From this figure, you subtract returns, allowances and discounts.