Turnover | Meaning and Definition

What is Turnover? 

Turnover meaning is a company’s total sales over a given time period. ‘Gross revenue’ or ‘income’ are other terms for it. Profit, on the other hand, is a measure of earnings.

It’s a crucial indicator of your company’s success. Knowing your turnover amount is helpful for planning and getting funding, as well as monitoring success and valuing your firm if you want to sell. Profit is not the same as turnover in the business world. Turnover is the overall revenue generated by your firm over a given period of time or the net sales amount. Profit, on the other hand, is the amount of money left over after all expenditures have been eliminated.