Difference between sales,turnover and gross receipts

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Sanjay (Querist)
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07 July 2012 Respected Members',

Is there any difference between the terms named 'Sales','Turnover' and 'Gross Receipts'? If yes what are they?

Please suggest...

A.M.Adhavan

A.M.Adhavan (Expert)
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07 July 2012 Sales and turn over are used when u r actually selling some goods and receiving money... if u r offering some service or doing some work and getting money means it is termed as receipts....

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Sanjay

Sanjay (Querist)
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08 July 2012 Thanks a lot Sir..