MProfit v4.2 update available

April 29, 2010 at 3:50 pm Leave a Comment

version_4_2

As part of our continuous effort to improve MProfit we have added several new reports and improved the layout of several existing reports. With our reports, you get a snapshot of your overall asset allocation and can analyze if you are over invested in a specific asset class, stock or mutual fund and then decide if you need to re-balance your portfolio.

New Reports:

Accounting JV (Reports -> Accounts) - useful for entering journal entries for accounting purposes. It lists the journal voucher entries based on stocks and MF buy and sale transactions.
With stocks, details like debit/credit of intra-day profit/loss, short term or long term capital gains, STT, transaction charges and broker’s ledger account are listed based on the contract note details.
With Mutual Funds, details like debit/credit of short term or long term capital gains and bank’s account are listed based on the buy or sale transaction.
Other Transactions (Reports -> Transactions) - transactions are listed with details like income, withdrawal, investment, opening and closing balance.
Due Dates (Reports -> Miscellaneous) - Lists the due dates for various events (reminders), like premium due, maturity date and lock-in period complete. Due dates for next six months can be selected via the customization option. In the group portfolio, the report lists the due dates for all the group (family) members in one consolidated report.

Improved Layouts:

  • XIRR (individual and group)
  • Asset Allocation (individual and group)
  • Group Holding

Video of New Features

If you would like to see a demo of the newest features, below is a YouTube video showing v4.2 in action.

How Do I Get The Update?

From the main menu select Help -> Check for updates. You will need to restart MProfit to proceed with the update.

Please make sure that you have internet connectivity during this process and that your antivirus software and/or firewall is not blocking the download.

Filed Under: Software Updates

Capital Gains Calculations

April 13, 2010 at 2:51 pm Leave a Comment

cap_gains_taxesThe financial year 2009-10 is over and in the next several months most of us will be filing our income tax returns. If you invest in stocks and/or mutual funds, you will need to prepare the capital gains calculations for your short-term and long-term gains for stocks and mutual funds. Also, if you have any intra-day profits/losses for stocks you will have to calculate those gains as well.

MProfit provides various simplified reports for capital gains calculations. MProfit follows the First In First Out (FIFO) method for calculating capital gains. MProfit provides a summary as well as transaction wise capital gains reports. Capital gains reports are listed separately for equity mutual funds and debt mutual funds.

MProfit calculates and adjusts capital gains calculations based on corporate actions such as merger, de-merger and split and bonus.

Below are several articles which explain in detail how MProfit handles capital gains calculations.

Capital Gain Calculations for Shares (Stocks)
http://www.mprofit.in/2009/07/capital-gain-calculations-for-shares-stocks/

Capital Gain Calculations for Mutual Funds (MF)
http://www.mprofit.in/2009/07/capital-gain-calculations-for-mutual-funds-mf/

A video tutorial on Capital Gains Reports
http://www.mprofit.in/2010/03/capital-gains-reports/

Lastly, MProfit not only calculates capital gains post sale, MProfit has a feature called Tax Calculator.  The Tax Calculator can help you determine your short-term and long-term capital gains and the amount of tax payable before you decide to sell your stocks or mutual funds.

Filed Under: Software Features