Hi all,
Can somebody please clarify a straightforward sum. Just updating my accounts from a fairly new part time business venture. I’m recording the % difference in profit and loss, comparing this tax year with the previous. All fine for the 11 months when months for both years made a profit. However, my mind has gone blank when it comes to calculating the one month that made a loss the previous year and the same month made a profit this year. Eg May2019 overall loss - £105 and May 2020 profit +£2564.55. I understand to work out the difference i am just ignoring the minus and adding to the profit figure so the difference between the two years is increase of +£2,669.55. I am stuck when it comes to working out the % difference though. It’s the difference over -£105 or £2564.55 x100?
Maths is clearly not my strongest point so please don’t be too harsh if you think this is obvious and I should know how to work this out. These are example figures so the formula would be useful instead of the the answer to my made up figures!
Also, I don’t think I’ve articulated this very well but hopefully you can understand!
Thanks all.