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ha, welcome to my world. I'm treasurer for my local tri club, mainly as a favour rather than because I know what I'm doing. making it up as I go along.
anyway. ChatGPT has been useful...In accounting, income and revenue are closely related but have distinct meanings. Revenue refers to the total amount of money a company brings in from its sales or services before any expenses are subtracted. Income, on the other hand, is the net profit a company makes after all expenses, taxes, and other costs have been taken into account. In other words, income is revenue minus all expenses.
duncs
Is there a difference between income and revenue?
I'm not sure I'm the right person to be doing the Xero tasks.