Manage Sovereign Gold Bonds with MProfit

What are sovereign gold bonds?
As part of the gold monetisation scheme launched by Prime Minister Narendra Modi in November 2015, sovereign gold bonds are issued by the Reserve Bank of India (RBI) on behalf of the government. They are a replacement for physical gold and are available in paper or demat form.

Which sovereign gold bonds are supported in MProfit?
In line with our commitment to continually improve MProfit and introduce new features, MProfit has added support for the sovereign gold bond asset class under the ‘Traded Bonds’ category. MProfit users can now track the performance of these bonds on a daily basis, review overall gains as well as annualised return (XIRR) for this category. Here is a list of the sovereign gold bond series that have been added in MProfit:

Sovereign Gold Bond 2.75% Nov 2023 Tr- I (ISIN: IN0020150085)
Sovereign Gold Bond 2.75% Feb 2024 Tr-II (ISIN: IN0020150101)
Sovereign Gold Bond 2.75% Mar 2024 Tr-III (ISIN: IN0020150119)
Sovereign Gold Bond 2.75% Aug 2024 Tr-IV (ISIN: IN0020160027)
Sovereign Gold Bond 2.75% Sep 2024 Tr-V (ISIN: IN0020160043)
Sovereign Gold Bond 2.50% Nov 2024 Tr-VI (ISIN: IN0020160076)
Sovereign Gold Bond 2.50% Mar 2025 Tr-VII (ISIN: IN0020160126)
Sovereign Gold Bond 2.50% MAY 2025 Sr-I 2017-18 (ISIN: IN0020170018)

How are capital gains calculated for sovereign gold bonds?
If sovereign gold bonds are sold in the secondary market before maturity after three or more years since purchase, capital gains on these transactions will be taxed at 20% with indexation. However, if they are sold within three years of purchase, the capital gains would be subject to the marginal tax rate. Our team is working to provide separate capital gains reports with and without indexation for this category, and these new reports should be available in the next public software update.

February Newsletter

MProfit wishes you a prosperous 2017!

2016 has been quite a year to remember not because of the US elections, but because of what else happened that day… the demonetization of the Rs. 500 and Rs. 1000 rupee notes. Within hours of the announcement Prime Minister made it impossible to use large notes. It was a very positive move for the financial markets as most of the money would come back into the banking system. The positive effects will be felt for many years to come.In addition, it was also an extremely productive year for MProfit. With a series of new features, reports and improvement in 2016 as well as unmatched customer support, we continue our path in 2017 to make MProfit, India’s leading portfolio management & accounting solution. Below is a quick summary of new features & reports implemented:

New Features

Reached the milestone of supporting import from 2000 formats (PDF, HTML, Excel, Text, DBF)
Import support for auto-mapping using ISIN numbers for many broker’s contract notes
Live prices (End of Day prices) of traded bonds on NSE and BSE in capital market segment
Import support for the new format of the Consolidated Account Statement from CAMS
Create Mark to Market profit/loss in F&O which can be reconciled with broker’s ledger

New Reports

Capital Gains of traded bonds
‘Bank & Broker’ report to see banks and Broker’s balances for one or all families
Contract notes summary and detailed report to view contract notes of all families
Asset Holding – Closing Balances
Family – wise global transaction report
Capital gain calculations of all families under one report
Closing Balance report for one family or all families under one report
New XIRR report with Quantity
Stocks & Mutual Fund transactions register

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.

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 – http://goo.gl/8bNwug
– Reassignment of asset to new bank with effective date – http://goo.gl/FgTbGo
– Settlement of expired options – http://goo.gl/Ybor73
– 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.

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.

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

Features:
– 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

New version 9.4 released…

mprofit-94We have just released the latest version of MProfit and as usual has many new features that were requested by our users.

Some of the new features:

– Undo last import – many times people want to delete the last imported transactions
– Bulk corporate actions – dividend, bonus, split and merger can be applied to all your portfolios with a single click
– Enhanced auto mapping for mutual funds – we support more mutual funds that can get automatically mapped into our system
– Automatic year-end closing in accounts – With a single click you can transfer closing balances to the capital account
– Changes to several reports like XIRR, Group XIRR, Realized, Unrealized, Historical Pricing, Income (All Assets) and Other Transactions

We have also made our auto-mapping of mutual funds even better as we are able to detect and automatically map more mutual funds into our system, which means less time spent on manually mapping the mutual funds.

New v9.1 launched and new Pro version

With version 9.1 two major features were added to MProfit Pro and Advisor: 1. Managing your Futures and Options (F&O) trading 2: MProfit Sync – a secure way of having clients view their financial transactions from their computer.

Managing Futures and Options (F&O)

The ability to manage a users F&O transactions has been requested quite frequently and the ease of use of importing and entering those transactions is unmatched. This new feature is available in MProfit Pro and MProfit Advisor. Prices are delayed by 15 minutes which is the same as the cash equity data feeds.

MProfit Sync – one click sharing

The number one request from Advisors has been the ability to share data with clients. MProfit Sync allows advisors to share data in a secure manner with clients. Once an advisor has imported the data into MProfit Advisor they simply click one button and the data is uploaded to the cloud and an email is automatically sent to the client.  The client then installs MProfit Investor and enters the information from the email and will see his financial information. For advisors, there is no easier way to provide access to their clients financial information

MProfit Messenger

Anyone using MProfit Pro and Advisor can send messages to all their clients with the built-in MProfit message system. This will allow people to send daily updates or other types of information to their clients in an easy and convenient way.

 

Advisor and Investor 9.0 released

Happy New Years! If you have noticed we have been quite silent on this blog over the past 5-6 months, mainly because the entire team was working towards a very busy 2012.

At MProfit we started 2012 with a bang, with the launch of latest version of MProfit Investor (v9.0). But in even bigger news is we launched our second product MProfit Advisor. MProfit Advisor was designed for companies, family offices, HNIs, CFPs, independent financial advisors (IFAs), insurance advisors, investment advisors and sub-brokers.

What’s new in MProfit Investor v9.0?
We have rebuilt MProfit Investor (download) to take advantage of the many new features we have planned for 2012 such as the ability to sync your data with advisors. In addition, you will be able to view your data on tablets and mobile phones (Android, iOS, Windows).

Some of the features you will notice right away:

  • Bigger font size of the summary screen
  • Many more import options have been added
  • Capital gains report with or without indexation for debt mutual funds and FMPs

MProfit Advisor commercially available

Since the launch of our first product MProfit Investor we were receiving many requests from financial advisors, HNIs and family offices.  In 2011, we decided it was time to start working on a new product based on the feedback and what you see today in MProfit Advisor (download) is a result of  it.

MProfit Advisor we designed to be easy to use and cost effective. MProfit Advisor allows you to manage 100’s of portfolios, put your logo on reports, generate overall AUM reports and many other features. In the near future, advisors will be able to share data with their clients in an easy and secure manner.  At MProfit, 2012 is the year we plan to make managing money a very simple task.

Click for a summary of the features in MProfit Investor and MProfit Advisor.

MProfit v5.3 update available

Today, we are pleased to announce our latest v5.3 release.

1. One of the most requested features is the addition of 15 minute delayed prices during market hours. MProfit will automatically refresh the prices every 5 minutes.

2. Quick Reports – We have added the Group Holding Stocks report, to show which portfolios contain which stocks.

3. Reports: A new group report for ULIP/Insurance – it provides comprehensive information such as policy, nominee, sum assured, premium/withdrawal, maturity date and current policy value. Also, updated transaction reports for ULIP, Insurance and other assets. Lastly, we have revised the look of all the reports for easier viewing.

4. Import – We have added several more brokers to allow importing of contract notes from BP Equities, ODIN trade file, Pratibhuti Viniyog, Sharewealth Securities, SVS Securities and Vimal & Sons. (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.