What is turnover in business?
Turnover is a popular term used in business. It’s the official terminology used in company accounts, the tax returns of self-employed & partnerships, and is common usage in the business world. In this week’s episode of I Hate Numbers , I will explain (1) what turnover is; (2) explain how it’s calculated; (3) why it’s important for your business; and (4) turnover should be monitored to make sure you’re profitable.
You want to know more about turnover so that you can keep track of your profits! This video will teach you everything you need to know about calculating turnover as well as why they are important for your company. So, sit back, relax, and enjoy learning all about turnovers with me today!
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Welcome to another weekly episode of I Hate Numbers, the show that aims to educate-inspire-inform you with jargon free info-tools-tips about your best Business Friend, your numbers.
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What does turnover in business tell you
Turnover tells us how well our business is doing financially so it’s important to know what it means! If turnover goes up then this usually means more money coming into our business but if turnover goes down then this usually means less money coming into our business which could mean trouble ahead for some businesses! So make sure to keep track of turnover numbers so that you can see where we’re going financially!
Keep track of turnovers by using accounting software like Xero Accounting Software ! They’ll help us stay on top of things without having to do any calculations yourself,
Turnover is one measure of your financial performance. Your turnover in business has some importance, but it should not be your main financial priority. This sounds bonkers,
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Watch out for next week’s podcast. I will dive deeper into profit, what it is and why it’s so important.
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Conclusion
Moreover, you need to know what turnover in business is. This podcast tells you all you need to know, calculations, tips, and advice
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I love to help business owners connect with and understand their numbers, improve their attitude to money, make more profit, save tax and time.
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Links
https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288
https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins
https://www.stitcher.com/podcast/proactiveresolutionss-podcast
https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/