% Gains for the Month

I was wondering when a system displays the percent gain for the month is that for the capital at the start of the month or the starting capital of the system?

Matthew just replied to this in the "Problems with %" thread:

"we take the marked-to-market total Model Account equity at the beginning of the month, look at the gain or loss at the end of the month (less subscription fees, and commissions and AutoTrading fees, which are all included), and then calculating a percentage on the initial equity at the start of the month."

Oops guess i should have read down a bit further, thanks!