Tag: Retail Sales
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Returns, Allowances and Discounts in Accounting
In the revenue section of every income statement (profit and loss statement) is an adjustment group to sales. This group reflects the value related to the actual sale of the product or services.
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Point of Sale System – Introduction
Almost all retail based operations require a Point of Sale (POS) System to properly record the customer and product activity. What is a Point of Sale System?
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Revenue and Sales – What is the Difference?
Sales are a component of revenue. Revenue encompasses several sources of income including sales. Other sources of revenue include interest, trust monies, royalties, and fees. In effect, revenue includes all sources of income, realized and unrealized. Sales are divided into two levels, gross sales are all sales at the regular price; net sales are gross sales less…
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Retail Sales: There Are No Rules
First rule: THERE ARE NO RULES! Second rule: WHEN IN DOUBT, REFER TO THE FIRST RULE.