How do I change Net Revenue to be Net Income? Net Operating Revenue to be Net Operating Income, etc. The financial statement are using the wrong captions.

Hi, @tedschultz45.

Allow me to share with you some information about these accounting terms.

Each term plays a role in your financial report. The Net Revenue (net sales) is the total amount of income you earn from business operations minus any adjustments, such as accounting for returns, refunds, and discounts. While Net Income is your income after all eligible business expenses. Net income goes even further than net gross margin because you deduct all other expenses, including overhead and taxes.

On the other hand, the Net Operating Income is your revenue through daily sales of operating your business.

At this time, I would recommend contacting your accountant to discuss more your accounting books and your financial reports.

I'm also adding these link for your additional resources:

• Net Revenue vs. Gross Margin vs. Net Income
• What is net income and how does it affect your bottom line

For more tips, while working with QuickBooks, you can also review the topics from our help articles.

If you have any other questions about your reports, please let me know by adding a comment below. I'm always here to help. 

The reply was no help. I am a CPA so I know the definitions of Net Revenue and Net Income. The problem is QuickBooks does understand the definition. QuickBooks uses Net Operating Revenue when its should be Net Operating Income and uses Net Revenue when it should be Net Income. The bottom line of the Income Statement should be Net Income not Net Revenue.

Therefore, my question is how do I go into QuickBooks and change the titles of these lines to the proper terminology. You didn't answer that question.

Can you provide me with the navigation in QuickBooks to change these summation lines to the proper US GAAP terminology?

Ted Schultz

I am a CPA so I understand the definition of these terms. The problem is that QIckBooks doesn't use the correct terms in the summation lines on the Income Statement. For Net Operating Income QuickBooks uses Net Operating Revenue. For Net Income QuickBooks uses Net Revenue. 

My question is what is the navigation in QuickBooks to change these to the correct US GAAP terminology?

That question was not answered in your reply.

Ted Schultz

Let me share additional information, @Ted Schultz.

The terminologies displayed in your financial reports depends on the Tax Form configuration in your QuickBooks Online account. I can guide you on how to do it.

1. Go to the Gear icon.
2. Choose Account and Settings.
3. Select the Company menu.
4. Scroll down to the Company Type section.
5. Click the Tax Form drop-down.

I've added these articles as additional resources in managing your reports:

• Run payroll reports
• Choose Between Cash and Accrual Accounting Methods In Reports. 
• Customize Reports.

Get back to us here if you have other questions or concerns. I'm always here to help.

I'm having the same problem. My company type is set to Nonprofit organization (accurate), yet I'm still getting Net Revenue on my reports. How can I change that?

Hi KPTE,

I appreciate you for trying the steps shared by my colleague.

Though we can customize how the report would look like, and what data to show, the ability to change the terminology is unavailable. However, you can export the data to an Excel file. From there, you can change Net Revenue to Net Income.

You can do so by clicking the Export icon on the report. Then, select Export to Excel.

Furthermore, you can check this article on how you can customize reports: Modify reports in QuickBooks Online.

Don't hesitate to post anytime you need help with modifying reports.