Tag: sales

What is Net Profit?

Gross Profit Less Operating Expenses  = Net profit before tax Less Tax = Net Profit after tax Net Profit shows the profit, after all expenses,

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What is Gross Profit?

Sales Less Cost of Sales = Gross Profit Gross Profit excludes operating expenses, interest and taxation Gross Profit shows the profit after deducting direct costs

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What is Cost of Sales?

Cost of Sales Opening stock  Plus Purchases  Less Closing stock = Cost of Sales Cost of Sales is direct cost of product sold, shown in

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What is Input VAT?

Input VAT If your business is registered for VAT, you can claim back VAT charged to you on products and services Input VAT = Expense

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What is Break Even?

Break Even Break Even is point where sales – expenses = 0  It is calculated in units & R. It can take months or years

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What is Output VAT?

Output VAT If your business is registered for VAT, you will charge VAT on the sale of products and services Output VAT = Sales *

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What is a Sales Budget?

Sales Budget shows estimated sales for the budgeted period. It is allocated per business unit, person, area or similar basis The Budgeted period could be

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