MProfit v5.4 launched

March 31, 2011 at 6:52 pm Leave a Comment

The latest version 5.4 is available now!  Below are 4 highlights of this release:

1. As the financial year of 2010-11 has been closed, we have improved the Capital Gain Summary Report based on requests from many users. The report now includes period-wise capital gains as required when filing your tax return. The period includes 1st Apr to 15th Sep, 16th Sep to 15th Dec, 16th Dec to 15th March and 16th March to 31st March. This will be useful in determining your advance tax payment for the new financial year as well.

2. New ULIP/Insurance Summary report for individual portfolios, this report was previously available for groups.

3. A minor bug related to display of accrued interest in FD (Payout).

4. Import – We have added several more brokers to allow importing of contract notes from ASE Capital Markets, FundsIndia.com, MTL Shares & Stockbrokers, R. Wadiwala Securities, Saurashtra Capital, Span Caplease and Sunshine Broking. We have also updated many of the import options as well. (click for a current list of brokers)

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 anti-virus software and/or firewall is not blocking the download.

Filed Under: News

Manage Your Commodity Trading via Excel

March 22, 2011 at 12:17 pm Leave a Comment

With MProfit we currently do not have a module for managing commodities trading. Based on the many request from users of MProfit we have created an Excel sheet for managing your profit/loss as well as accounting JVs till we create a module for commodities trading.

The simple and easy to use Excel sheet helps traders to calculate profit/loss of their commodities trading activity. It also helps them to create accounting entries (JVs) for their accounting purpose. Traders need not enter the full contract values in accounting JVs. They just need the details of the profit/loss for squared-off contracts.

Click to download the Excel sheet for commodities profit/loss and accounting JVs.

Filed Under: Personal Finance

Planning to Buy Mutual Funds?

March 14, 2011 at 10:47 am Leave a Comment

If you are looking to have some exposure to the equity markets then investing in mutual funds is a good first step. At MProfit we receive many queries from first time investors and one question that is asked often is “How do I buy mutual funds?”

There are two broad categories for buying mutual funds: offline and online.

With offline, it means involving paper forms and signatures. There are two main routes within the offline category:

  1. Direct from the mutual fund house (also known as the Asset Management Company – AMC)
  2. From a distributor or advisor.

If you want to purchase mutual funds online then you have 3 options:

  1. Mutual fund company websites
  2. Websites such as FundsIndia.com
  3. Brokers such as ICICI, HDFC, Reliance Money, etc…(this would require a demat account).

Once you decide which funds to buy and via which route the next step is to manage your investments. That is where MProfit can really help you, since we can aggregate all your mutual fund transactions into a single screen. How do we do it?

No matter where you buy your mutual funds from the record keeper of those investments will most likely be CAMS or Karvy (they are called registrars). We provide an import facility for both CAMS (click for info) and Karvy (click for info). If you setup a SIP for your mutual fund then that data will get updated when you import your data on a weekly or monthly basis.

Once the data is in MProfit you can track your mutual fund performance since we provide auto price updates. Then you can add your other assets such as gold, property, ULIPs, etc…and have a complete view of all your investments. Lastly, you will be able to print reports and take investments decisions since you have a complete view of all your assets.

Filed Under: Personal Finance

PPF Calculator

March 7, 2011 at 12:27 pm Leave a Comment

Investment in the Public Provident Fund (PPF) with discipline and systematically can lead to a sizable retirement corpus. We have created a calculator that will tell you how much your corpus would be at the end of 15 years, 20 years or 25 years. Click to download the PPF Excel calculator.

Features of PPF investments include:

- 100% secured investment, offered by Government of India

- Tax deduction under section 80C
- 8% per annum tax free return
- Withdrawal up to 50% of your balance before the 4 years of the year of withdrawal
- After the end of 15 year period (actually 16 years), the PPF account can be extended for another block of 5 years, indefinitely.
- In an event of bankruptcy, no one can touch your PPF balance, not even Government of India

Below is a quick introduction of how to enter your PPF/EPFs and the type of reports you can generate with it. We show you an existing PPF, how to enter a new PPF and reports you can create to view your PPF/EPF investments.

Filed Under: Software Features