Turnover can mean the rate at which inventory or assets of a business "turn over" a.k.a sell or exceed their useful life. It can also refer to the rate at which employees leave a business. But turnover in accounting is how much a business makes in sales during a period.

Are expenses included in turnover?

turnover is your total business income during a set period of time – in other words, the net sales figure. profit, on the other hand, refers to your earnings that are left after expenses have been deducted.

What should be included in turnover?

Sometimes just referred to as sales, turnover is the total value of what you've sold during the period covered by the profit and loss account, net of VAT. It might be broken down into different types of product, helping you to see which items sell better than others.