📊 Revenue
What it is: The total amount of money your business earned from selling its products or services during the year — before subtracting any expenses. This is sometimes called Total Sales, Top Line, or Gross Revenue.
Where to find it:
- Bookkeeping software: Run a "Profit & Loss" (P&L) or "Income Statement" report → look for the top line labeled Total Income, Total Revenue, or Sales
- Tax return (Canada T2): Schedule 125, line "Sales and other revenues" → Total revenue
- Tax return (US Form 1120): Line 1c "Total receipts"
- Year-end financials: Top of the Income Statement / Statement of Operations
GAAP note: Under GAAP (ASC 606), revenue is recognized when it is earned, not necessarily when cash is received. If you use accrual accounting (which most accountant-prepared statements do), use the figure from your financial statements, not your bank deposits.
Example: Your software business invoiced $1.2M in subscriptions in 2024 and collected $1.1M in cash. Your GAAP revenue is $1,200,000 (what was earned), not $1.1M.