Net Revenue
What actually landed in your account: gross revenue minus refunds and returns.
Formula
Net Revenue = Gross Revenue - Refunds - Returns
Net revenue strips out the money you gave back. A $50 sale that was refunded the next day counts as $0 in net revenue, even though it appeared in your gross.
Most reporting tools surface gross revenue by default because it is a bigger number. Net revenue is the honest figure: it reflects what your business actually kept from its sales activity.
When comparing across periods, always compare net revenue. A spike in gross revenue followed by a returns spike a few weeks later is a false positive. Net revenue catches it.