Gross Receipts
Definition
The total amounts a business receives from all sources before subtracting any costs or deductions. Several tax and registration thresholds are measured against gross receipts.
Related Terms in Business Terms
Turnover
The total sales or revenue a business generates over a period. In accounting it can also refer to how quickly assets such as inventory or receivables are used and replaced.
Capital Employed
The total funds a business uses to generate profit, generally equity plus long-term debt, or total assets less current liabilities. It is the base for return on capital employed.
Fixed Asset Register
A detailed record of a business's fixed assets — cost, location, purchase date, depreciation and net book value. It supports depreciation accounting, insurance and physical verification.
Cost Center
A part of a business to which costs are allocated but which does not directly generate revenue, such as administration or IT. Tracking costs by center supports budgeting and accountability.
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