New v9.5 released

left-facing-boxLast week we released v9.5 of MProfit which packs many new features and fixed several older issues. Below is a complete list of all the new features, reports and enhancements.

New Features
– Create Mark to Market profit/loss in F&O which can be reconciled with broker’s ledger [Click to learn more]
– Settlement of all open expired contracts [Click to learn more]
– Import support for the new format of the Consolidated Account Statement from CAMS
– Import support for auto-mapping using ISIN numbers for many additional brokers’ contract notes

New Global Reports (Pro & Advisor Version)
– ‘Bank & Broker’ Report to see banks and Brokers’ balances for one or all families
– Transaction Reports, CN Summary and Detailed to view contract notes of all families and search any Contract note with contract no or Settl. No
– Closing Balance Report for one family or all families under one report
– Asset Holding – Closing Balances

Improved Reports
– Capital Gain Summary report – Added filter to see only intra-day, short term or long term gains
– Ledger Printing Report – Option to exclude stocks, MFs & traded bonds
– Closing Balance report, added two more columns, Curr. Price and Curr. Value
– Holding Report, added three more columns, Curr. Price, Curr. Value and Gain/Loss
– Display of current value of assets with Lock-in Period entry in due date report
– Trading Profit/Loss report of past date will show valuation of the respective date

Bug Fixes
– Fixed bug related to Capital gain for Transfer-In with IPO and Bonus
– Fixed error in Transaction report with Bonus and Split
– Fixed clubbing of buy transactions entered separately on same day in capital gain report for income tax report, now it shows individual entries
– Fixed error in report of Debt MF with Indexation if internet is not connected

Click to the see the full version history of MProfit.

New update for MProfit

new_94_boxToday, we released an update to v9.4 of MProfit. The version is still 9.4 but the build number is 1013.042:

New Features and Reports

  • Family-wise global transaction report
  • Option to print or save capital gain calculations of all families under one report
  • New closing balance detailed report with ISIN number for better analysis using Excel
  • Option for sorting ledgers name-wise in ‘Ledger Printing’ report.
  • Added Ref number next to asset name in macros created for repetitive PMS entries during import
  • Improvement in reconciliation during bank import

Minor Bug Fixes

  • Fixed issue of updating master database which affected some users
  • Fixed bug in reconciliation of PMS entries and transactions from bank statement duringimport
  • Fixed capital gains calculation error in certain scenrios for the leap year
  • Fixed bug in XIRR for FDs with zero interest
  • Fixed display issue in stock register report for short sell transactions
  • Fixed bug in summary capital gain report for Debt with indexation
  • Fixed incorrect display of total for specific period in Group Income report in PMS

Click to the see the full version history of MProfit.

10 Lucky Winners from the Finbridge Expo

This past weekend (Feb 6-7) MProfit was an exhibitor at the Finbridge Expo in Navi Mumbai. Finbridge is a financial services and technologies expo, this was the 2nd year that the event was held. The expo was a great way for existing customer of MProfit to meet the team. In addition, it was a way for potential customers to get a demo of MProfit and interact with the entire team at MProfit. Below are some pictures from the event.

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In addition, we had a lucky drawing for people that visited our booth, a chance to win a free 1 year license of MProfit Pro. The following are the 10 lucky winners:

  • Indresh Malik
  • Jay Ram
  • Karan Thakkar
  • Lokesh Shah
  • Manish Sidhpura
  • Nageshwarrao Patta
  • Prashant Mahadik
  • Ranjit Das
  • Sandeep Daas
  • Sanjay Sutaria

Latest Update Tracks Bond Prices

new_94_boxLast week we released the latest update to v9.4 (1013.0366) and we have added many new features. One of the biggest features is the ability to track bond prices.

Tax free bonds have emerged as highly popular investment option among investors due to the taxation benefit that they offer and better yields since last couple of years. The bonds are mostly issued by government-promoted entities hence, come with the highest level of credit rating and provide investors a sense of safety compared to other corporate bonds.

Support for traded bonds in MProfit was one of the most requested features from our clients. The current version supports live prices (end of the day prices) of traded bonds in capital market segment and also provides short term and long term capital gains reports for traded bonds.

New Features:
– Live prices (End of Day prices) of traded bonds on NSE and BSE in capital market segment (Historical prices of Bonds are not supported yet)
– Earlier “Bonds” category has been renamed as NCD/Debentures
– Transfer of assets from NCD/Debentures to Traded Bonds –
– Reassignment of asset to new bank with effective date –
– Settlement of expired options –
– Increased count to 25 from 16 portfolios in PMS & F&O together (for Pro and Advisor version)
– Increased count to 25 from 16 accounts in Account category (for Pro and Advisor version)
– Expired instruments (in F&O category) will appear with sign E in red colour on summary screen

New Reports:
– Capital Gains of  traded bonds
– New XIRR report with Quantity
– Stocks & Mutual Fund transactions register (for Pro and Advisor version)
– Holding Period (number of days for Stocks & Mutual funds) (for Pro and Advisor version)

For the complete list you can visit our version history section.

To get the update, in MProfit goto Help -> Check for Updates and follow the instructions.

Parents Health Insurance Buying Guide

mahavir-coverfoxFrom time to time at MProfit we come across some really guide articles that we feel will benefit our users. Below is an article from Mahavir Chopra of Coverfox talking about buying health insurance for parents. The eBook they provide is very useful and highly informative.

– – –

Culturally, India is a very unique country, especially how we operate as families and take care of each other. When we are young, our parents meticulously take care of all our needs for years together till they are absolutely convinced that we are financially independent.

The role reverses when our parents turn old and they willingly or unwillingly start depending on us.

As they turn old we see small health complaints cropping up, they start getting feeble. Worst-case scenarios start randomly crossing our minds– like a major surgery or hospitalization.

No wonder whenever the topic of Health Insurance for parents gets raised in a group of friends, a strong emotion erupts that results in dead pan silence or an animated conversation around the problems of getting the coverage, high premiums, or worse, being able to make claims around diseases the parents are already suffering from.

This dichotomy has always made me think hard. I knew deep down that health insurance was not as bad and is accessible to 80% of the parents, but almost 50% of us give up for one reason or the other.

I therefore decided to write a short eBook which is an attempt at resolving the doubts, questions and road blocks that exist in the minds of the average 30 year old Indian looking at covering his parents under a health insurance plan.

The book essentially covers:

  • Uncovering myths around Parents’ Health Insurance.
  • How to get health insurance for parents with medical conditions.
  • Comparison of leading Parents’ health insurance.
  • What do you if your Health Insurance is declined.

You can download the eBook here.

Update to v9.4 released

new_94_boxToday, we released an update to v9.4 of MProfit although the version number has stayed the same many new features were added to v9.4 (1013.0217):

New Features:
– Support for moving account from one family to another
– Automatic changing the location of brokers ledgers from Sundry Creditors to Sundry Debtors as per the closing balance
– Address and PAN fields support in manual (User created) ledgers
– TDS field in MF sell form, so while doing sell entry in Mutual funds, TDS amount also can be entered

New Accounting Reports:
– Ledger Printing report: To print multiple ledgers or of particular group or sub-group
– Confirmation or Statement of Account report
– Voucher report – To print all vouchers or of particular group or sub-group
– Improved Trial Balance Reports with opening and closing balance and with groups and sub-groups
– Improved Profit/Loss report with groups and sub-groups

Bug Fixes:
– Fixed issue of auto mapping in PMS import when codes contain ‘&’
– Fixed display issue in XIRR MF, stocks individual report – Corrected XIRR total amount as per selection
– Corrected Trading P/L problem summary report – in current financial year after merger and sell entry
– Fixed AUM report – ULIP/Insurance price set manually will now reflect on AUM & Asset client wise holding report

Click to the see the full version history of MProfit.

Another Change to Contract Notes

isin-numberSEBI has been very busy over the past year changing the formats of the contract notes that clients receive when they trade on the equity and commodity exchanges. Last year, they introduced a Common Contract Note format that many brokers adopted (SEBI circular here). At MProfit we changed hundreds of formats and can now import from over 1300+ data sources.

We thought our work was done but earlier this year SEBI introduced a new enhancement to include the ISIN (International Securities Identification Number) ID. The ISIN is a unique ID for each instrument traded on the exchanges. For example, Reliance Industries’ ISIN code is INE002A01018. Read the SEBI circular regarding the new ISIN addition. (Wikipedia – click to learn more about ISIN)

The good news is that you will no longer have to map your scripts in the contract notes into MProfit since we can pickup the ISIN code and then map it directly to the correct script. However, since this is a SEBI mandated changed we have been overwhelmed with the number of import template changes we have had to make to implement the ISIN code. Rest assured we will get all the templates updated but it will take some time…don’t be surprised if it takes 7-10 days to get the template updated.

We really would appreciate your patience in this matter.

Updated version of MProfit released

new_94_boxToday, we released an update to v9.4 of MProfit although the version number has stayed the same many new features were added to v9.4 (1013.019):

New Reports:

Under Group:
– Realised Capital Gains reports to see capital gains for all group members under one report
– Unrealised Capital Gains reports for unsold quantities to check the capital gains liabilities as on today for all group members under one report

Under Family:
– Realised Capital Gains reports to see capital gains for all portfolios within one family under one report
– Unrealised Capital Gains reports for unsold quantities to check the capital gains liabilities as on today for all portfolios within one family under one report

– Sort by today’s gain & Overall gain %.
– Support for entering bonus bonds transactions with zero values
– Direct “assign” from bank ledger view of vouchers posted in suspense account

Bug & Fixes:
– Auto-mapping issue of ETFs in some of the templates.
– Fixed closing balance issue in certain multiple corporate actions
– Fixed issue of auto-generated contra voucher instead of payment voucher
– Fixed other minor bugs

Yet Another Update to v9.4

new_94_boxToday, we released an update to v9.4 of MProfit although the version number has stayed the same many new features were added to v9.4 (1013.01):

– Android App (Beta) – You can receive the data from your advisor or you can view the same data on your phone. More information via the blog post.
Improvement in Annualised Return (XIRR) reports. Option to see the XIRR reports and Net XIRR for only active assets. Also, Computation of Net XIRR now includes charges in contract notes.
Transfer of assets to other portfolios or others (for Gift or Inheritance purpose). This feature was requested to take care of transfer of stocks, MFs from one portfolio to another portfolio. This is also very useful for those who maintain demat-wise portfolios. You can now transfer stocks from one portfolio (demat1) to another portfolio (demat2).
Trading Portfolio – This feature is useful whose investment income is treated as trading income. Option is provided to mark any portfolio in PMS as a trading portfolio. All capital gains for this portfolio will be treated as trading income in accounts and added in ledger called ‘Intra-day/Trading Profit/Loss’ (Click on Edit Master and select portfolio to edit, then select the option as ‘Trading Portfolio’)

Beta launch of the MProfit Android app

mprofit_android-betaYes, it’s finally here the much awaited MProfit Android app. Our most requested feature over the past 12 months has been for mobile apps – Google Android and Apple iOS.  We decided to launch our beta Android app first and then focus on the iOS version in the future.

For the Android app the team was solely focused on making sure your financial data appears in an easy to use app. It’s a slim down version of MProfit and not as feature rich as desktop MProfit application but over the next few months we will gather the comments, criticism, feedback and feature requests to make the next version of the app even better.

So who can use it?

1. If your financial advisor is already sending you MProfit data then you can enter the same login details (Advisor Code, Username and Password) to access your data on the app. If your broker sends you a new username and password then the easiest way is to first download the app to your phone and then click on the link in the email that was sent to you.

2. If you have purchased MProfit Pro or Advisor then you can send the data to yourself and then enter in the login details in the app to see your financial details.

Visit our Android app FAQ to learn more.