<p>Can you tell me what “Gross receipts or sales less returns and allowances” is ? (particularly the second part)</p>
<p>Thanks a lot !</p>
<p>Gross receipts = all the money that came in the door
Sales less returns & allowances = Gross receipts (see above) minus refunds</p>
<p>Do NOT include sales tax as part of gross receipts.</p>