What defines revenue?
This may sound elementary but Im curious.... When I go to the bank and open up a checking account under my S corp or LLC, they ask for annual revenue... my goal is to have a number of rentals so Im assuming the rental income would be my revenue for that company/account. However Ive also tried to apply for credit for the company (impossible these days I know but lets go back a year ago when times were normal) and they said youve got to have this much revenue to get accepted for this LOC. Heres the thing- I dont understand how the revenue in relation to the outgoing expenses would be factored in.. if I receive $800 for a rental, I deposit it into my checking then I pay the mortgage and everything else leaving me with say $200. would the $200 or the $800 be used to qualify me? Isnt it the deposits made into the account that ultimately make up the banks mind or do they take out all your expenses/withdraws and use that number?