Net Credit Sales definition

Net Credit Sales means, for any Fiscal Year or Fiscal Month, an amount equal to (i) gross credit sales on Accounts (including gift card sales, sales tax, delivery charges, Licensee sales and any other amount included in the full amount charged by Cardholders) during such Fiscal Year or Fiscal Month, minus (ii) the sum of credits for returned goods and cancelled services and other credits (such as concessions, discounts and adjustments) on Accounts during such Fiscal Year or Fiscal Month.

Net Credit Sales means, (i) for any Business Day, an amount equal to (A) gross credit sales on Accounts (including gift card sales, sales tax, delivery charges, Licensee sales and any other amount included in the full amount charged by Cardholders) reflected in the NMG Charge Transaction Data since the preceding Business Day, minus (B) the sum of credits for returned goods and cancelled services and other credits (such as concessions, discounts and adjustments) on Accounts reflected in the NMG Charge Transaction Data since the preceding Business Day and (ii) for any Fiscal Year, an amount equal to (A) gross credit sales on Accounts (including gift card sales, sales tax, delivery charges, Licensee sales and any other amount included in the full amount charged by Cardholders) reflected in the NMG Charge Transaction Data since the preceding Fiscal Year, minus (B) the sum of credits for returned goods and cancelled services and other credits (such as concessions, discounts and adjustments) on Accounts reflected in the NMG Charge Transaction Data since the preceding Fiscal Year.

Net Credit Sales means, for any Fiscal Year or Fiscal Month, an amount equal to (i) gross credit sales on Accounts (including gift card sales, sales tax, delivery charges, Licensee sales and any other amount included in the full amount charged by Cardholders) during such Fiscal Year or Fiscal Month, minus (ii) the sum of credits for returned goods and cancelled

Examples of Net Credit Sales in a sentence

• Revenue from operations (Net Credit Sales) of Vinod Limited during the year were Rs.1,80,000.

• Debtors Turnover Ratio = Net Credit Sales ÷ Average Debtors + Bills Receivables8.

• Discount Allowed to Debtors ` 26,730.Goods received by Mumbai till close of the year ` 2,54,000.Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year’s trend of prompt payments.Cash remitted by HO to Branch for Expenses: ` 18,000 Branch Expenses still outstanding: `1,482Manager is entitled to a commission @ 6% of net profits after charging such commission.Answer the following:(a) Calculate Net Credit Sales.

• It is a ratio between net credit purchase and the average amount of creditors outstanding during the year it is computed as underCredit turnover ratio =Net Credit Sales Average CreditorsAverage creditors = Average of creditors outstanding at the beginning at the end of the yearThe creditors turnover ratio is an vital tool of analysis as a company or concern can reduce its requirement of current assets by relying on suppliers credit.

• The debtors turnover ratio can be calculated by using the formula:-Debtors Turnover Ratio = Net Credit Sales ÷ Average Trade DebtorsThe Debtors’ Velocity Ratio indicates the period of credit given by the unit to its customers in terms of days/weeks/months.

More Definitions of Net Credit Sales

Net Credit Sales means, for any date or measurement period, an amount equal to (A) gross credit sales on Accounts (including gift card sales, sales tax, delivery charges, Licensee sales and any other amount included in the full amount charged by Cardholders) charged by Cardholders in respect of any Account since the Retail Day preceding such date or the beginning of such measurement period, minus (B) the sum of credits for returned goods and cancelled services and other credits on Accounts reflected in the Charge Transaction Data since the Retail Day preceding such date or the beginning of such measurement period.

Net Credit Sales means, for any date or measurement period, an amount equal to (A) gross credit sales on Accounts (including gift card sales, sales tax, delivery charges and any other amount included in the full amount charged by Cardholders) reflected in the Charge Transaction Data since the Retail Day preceding such date or the beginning of such measurement period, minus (B) the sum of credits for returned goods and cancelled services and other credits (such as concessions, discounts or down payments and adjustments) on Accounts reflected in the Charge Transaction Data since the Retail Day preceding such date or the beginning of such measurement period. [****]

Net Credit Sales means, for any Fiscal Year, Fiscal Month or Business Day, an amount equal to

Net Credit Sales means the aggregate amount of sales to Consumers resulting in charges to Accounts during such period less aggregate credits to Accounts during such period, in each case as reflected on Sales Slips.

Net Credit Sales means, for any date or measurement period, an amount equal to (i) gross credit sales on Accounts (including gift card sales, sales tax, delivery charges, Licensee sales and any other amount included in the full amount charged by Cardholders) since the Retail Day preceding such date or the beginning of such measurement period, minus (ii) the sum of credits for returned goods and cancelled services and other credits (such as concessions, discounts and adjustments) on Accounts since the Retail Day preceding such date or the beginning of such measurement period.

Net Credit Sales means, for any calendar year, an amount equal to (a) gross credit sales on Accounts during such calendar year, minus (b) the sum of credits for returned goods and cancelled services and other credits related to the price of Goods and/or Services (such as concessions, discounts and adjustments) on Accounts during such calendar year.

Net Credit Sales means, for any date or measurement period, an amount equal to (A) gross credit sales on Accounts (****) minus (B) the sum of credits for returned goods and cancelled services and other credits (****) on Accounts(****) (****).