What is the difference between gross pay and net pay known as-?
Gross pay is a persons pay that is including overtime, allowances and bonuses. Net pay is when it is totaled together and subtracting the gross pay from it.
The difference between a gross and net withdrawal from a fund has to do with how much money you will receive. The gross withdrawal is the amount taken out of your fund which includes fees that you will not get to keep, the net withdrawal is the amount you receive after the bank's fees and any others are taken out.
gross is before taxes and net is after taxes and deductions In the case of a can of peas, Net is the weight of the peas themselves...Gross is the weight of the peas, the fluid and the can itself. Gross is always the weight including packing...Net is the actuial weight of the article itself. Gross can also refer to your income. Gross income is the total amount you made. Net the the total amount you…
Gross and Net Gross refers to the total and Net refers to the part of the total that really matters. Gross vs Net Income In accounting, for a P&L (profit and loss statement, Gross profit, or Gross income, or Gross operating profit is the difference between revenue and the cost of making a product or providing a service, before deducting overheads,payroll, taxation, and interest payments. Net profit is equal to the gross profit minus overheads…
Just remember the fact that "gross" is german (and also french) for "large" therefore gross is "larger" than net. so in the case of income for example...your gross income is "larger" than your net income (i.e. gross income is before tax). in the case of a can of food, gross weight is "larger" than net weight (i.e. gross is weight of the food+tin+water...net weight is weight of just the food).
Gross Margin = (Gross Profit/Sales)*100 Gross Profit = Revenue - Cost of Sales Net Profit = Revenue - Expenses Or in words, the Gross Margin is an expression of the Gross Profit as a percentage of Sales, where the Gross Profit is Sales minus the Cost of Sales. The Net Profit, on the other hand, is Revenue minus ALL Expenses (including cost of sales).