Profit percentage
This query is : Resolved
29 November 2012
If a purchase a goods at 100.00+vat 13.5% and sell it at 110.00+vat 13.5% then according to me profit will be 10% but why it shows 9.09% profit in accounting software. Please clear my doubt with giving formulae....
CA PARAS BAFNA
(Expert)
02 December 2012
You are calculating Profit on Purchases
By using the Formula -
Profit/Purchases x100
whereas the software calculates profit on sales by using the Formula -
Profit/ Sales x100
.
By using the Formula -
Profit/Purchases x100
whereas the software calculates profit on sales by using the Formula -
Profit/ Sales x100
.
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