Gross income and gross revenue are two financial terms that are often used interchangeably, but they have slightly different meanings.
Gross income refers to the total amount of money earned by an individual or household from all sources, including wages, salaries, tips, rental income, investment income, and any other sources of income. It is a measure of an individual’s or household’s income before any taxes or deductions are taken into account.
On the other hand, gross revenue refers to the total amount of money earned by a company or business from all sources of income, such as the sale of goods or services, rental income, interest income, and any other revenue streams. It is a measure of a company’s or business’s income before any deductions or expenses are taken into account.
So, the key difference between gross income and gross revenue is that gross income is a measure of an individual’s or household’s income, while gross revenue is a measure of a company’s or business’s income. Additionally, gross income is typically used in the context of personal finance, while gross revenue is typically used in the context of business finance.