View our full Glossary of accounting & payroll terms Visit full glossary Related topics Business finances Search for another term Search for: Glossary definition What is gross profit? Gross profit is the difference between sales income and the cost of the goods sold. It does not include the costs of overheads such as distribution, or payroll, tax and interest payments. Sometimes, gross profit is expressed as a percentage. Recommended Next Read September 26, 2023 How automation revolutionises finance and fuels career growth See this term in action 22 September, 2023 6 min read What the Economic Crime Levy means for accountants and businesses 21 September, 2023 6 min read What is venture capital? A guide for small businesses 20 September, 2023 7 min read What is angel investing? A definitive guide Learn more about this definition and others Featured reading 15 September, 2023 4 min read Invoice tips round-up: Essential advice to help you get paid on time 20 September, 2023 7 min read What is angel investing? A definitive guide 22 September, 2023 6 min read What the Economic Crime Levy means for accountants and businesses Popular termsWhat is a credit note?What is a P11?What are drawings?What is a purchase order?
