Question
Why does QBO use "Net Revenue" at the bottom of a Statement of Activity (and in related location in Statement of Financial Position) instead of "Net Income"?
From all my understanding (as a non-accounting professional who volunteers as Treasurer in our nonprofit), "Net Revenue" is an incorrect term to describe the bottom line of an income statement (or SOA). Assuming this is correct -- and therefore annoying -- I don't see a way to change the terminology within QBO -- meaning my only option for changing it is to run a report, export to Excel, and edit for my own terminology. Would love to know 1) why it seems to use terminology inconsistent with general practice and 2) if there's any other way within QBO to change the term baked into reports or if I'm correct that the only way to adjust is on my own in Excel.