Budget Income Statement > Contra Revenue Account Amounts were Added Instead of Being Deducted to Total Sales

It is important to take note of those accounts we deem as a Contra Revenue Account.

A Contra Revenue Account is one that oppose the normal balance of a relative income account such as Sales Returns and Allowances, and Sales Discount.

When entering budgets via Transactions > Financial > Set Up Budgets, Contra Revenue Accounts must be entered as a negative value in order for the amount to be properly deducted against its relative revenue account on reports.

In NetSuite, Contra Revenue accounts are normally created as an Income Type account similar to that of a normal Revenue account. With this, entering a positive value for a Contra Revenue account on the New Budget page would treat it as an addition to the total amount of the normal Revenue accounts.