Turnover

swizzel2601

Hi all

Its tax return deadline again!
Can some-one....really really simply tell me what 'turnover' means.

I buy goods from suppliers and sell them on.

Thanks so much!

Flora07

Turnover is the total you make without taking out the expenses.

Turnover minus expenses gives you profit.

swizzel2601

Thank you and I luv you!

x

Flora07

LOL

You're welcome...I didn't do much though.

WHA

Turnover is the money you receive for all the goods and services you sell.

Gross profit is turnover less the cost of goods sold.

Net profit is turnover, less cost of goods sold, less expenses.