Markup vs Gross Profit Percentage

Is there a difference? Absolutely. Markup and gross profit percentage are not the same! Also, the accounting for gross profit vs mark-up are different! A clear understanding and application of the two within a pricing model can have a drastic impact on the bottom line. Terminology speaking, markup percentage is the percentage difference between the actual cost and the selling price, while gross proft percentage is the percentage difference between the selling price and the profit.

5 reasons to outsource your accounting

If you are a small business owner, you probably know by now that good accounting is one of the essential foundations that are needed in order to guarantee success. The truth is that most small business owners spend too much of their precious time on the admin aspect of their business, where they could have been focusing on other important aspects such as communicating with clients or researching new ventures that could ensure more profit.
Why consider outsourcing your accounting?