Sales in Xero excluding tax and after credit notes
Net invoiced sales is a precise measure: posted sales invoices minus sales credit notes, both excluding tax, dated by the document. Knowing what it leaves out matters as much as the total.
By Manny Sidhu · Practical guide · Published · Updated
The calculation
Net invoiced sales is each sales invoice's total minus its tax, less each sales credit note's total minus its tax, grouped by the date on each document.
The answer shows three figures: sales invoices excluding tax, sales credit notes excluding tax, and the net of the two.
Which documents count
Only authorised or paid sales invoices and sales credit notes are included. Draft, submitted, voided, and deleted documents are left out.
A credit note is deducted on its own date, whether it was allocated to an invoice, refunded, or left unapplied. Payments and refunds are not counted a second time.
An illustrative example
Illustrative example, not customer data: in September, posted sales invoices total A$121,000, including A$11,000 of GST. One credit note for A$5,500 includes A$500 of GST. Net invoiced sales are A$110,000 minus A$5,000, which is A$105,000.
What this figure is not
It is not cash received, profit, or the recognised revenue in your profit-and-loss report. Journal adjustments, revenue-recognition timing, and sales recorded outside invoices are not included, and the answer says so.
If no posted sales invoices or credit notes fall in your dates, the answer says that rather than reporting a total of zero without comment.
Dates, record limits, and currency
All documents in the period must be in one currency. Days outside the Xero history AirCEO has synced are not counted as zero. When only the last day of your range is missing, Ask Alex answers for the days before it and states the date it stopped at.
If a period holds more documents than one check can verify, Ask Alex asks for a shorter date range instead of giving a partial total. To compare with the previous period of the same length, ask how revenue changed, which uses the same records.
What each answer shows
Every Ask Alex answer lists its source, scope, time, assumptions, and calculation, along with each Xero invoice and credit note behind the total, showing its amount and its tax. The figures are calculated by code from those records.