gross receipts
/ˈɡroʊs rɪˈsiːts/noun phrase★Intermediate
💰Finance
formaltechnical
The total revenue a business earns before any deductions such as taxes, returns, or discounts.
The company reported gross receipts of $5 million last quarter.
The startup's gross receipts exceeded expectations in the first year.
💡
This term is commonly used in financial statements and tax filings to represent total income before expenses.
Collocations
report gross receiptsto disclose total revenue in financial documentscalculate gross receiptsto determine total income before deductions
Synonyms
Antonyms
Related Phrases
net receiptsphrase
revenue after deductions
gross profitphrase
revenue minus cost of goods sold
💡Pro Tip
Accounting Context
Gross receipts are crucial for tax reporting and financial analysis.
⚡Gold Rule
Tax Implications
Gross receipts are often used to determine tax obligations in many jurisdictions.
📖Word Origin
Derived from 'gross' (total) and 'receipts' (money received), combining to describe total revenue before deductions.
📝Usage Notes
In accounting, gross receipts are used to calculate taxable income and assess business performance.
Word Breakdown
gross
total or whole
rootreceipts
money received
rootEnglish Dictionary