Knowing how many customers are willing to accept a price cut on an item versus those who insist on a return is valuable information. These transactions are called allowances and sales returns, ...

When your small business sells merchandise, you might occasionally refund all or a portion of a sale for a defective item or for other reasons. In accounting, a sales return represents a refund for a ...

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 deduct ...

The IRS issued final regulations on sales-based royalties and vendor allowance rules under Sec. 263A and Sec. 471. The rules, which adopt the proposed regulations (REG-149335-08) issued in 2011 with ...

Taxpayers who are adopting the rules for sales-based royalties and vendor allowances under Sec. 263A and Sec. 471 provided in T.D. 9652 were given new procedures for obtaining automatic consent to ...