Simply put, updating opening balances in MProfit is essential to capturing all required details for your trades.
When you have accurately imported your opening balances to MProfit, you can make sure that the reporting MProfit provides you for returns and capital gains is likewise accurate too.
The best, simplest and most accurate way to import opening balances to MProfit for Mutual Funds is to import your Consolidated Account Statement (CAS) from CAMSOnline.
Alternatively, you can also manually enter your Mutual Fund transactions in the MProfit application.
For Stocks, MProfit makes it simple for you to import your Opening Balances using our Opening Balances Excel template that contains columns for all relevant trade details.
Once your download is complete, open the file, enter all the required information and save your updates.
Now, navigate to Import in the MProfit application and add the MProfit Stock Transactions template to My Templates.
Once you have added your template to My Templates, import your file in MProfit.
Your opening balances for Stocks will now be up-to-date.
Now going forward, you can start importing digital contract notes and back-office files provided by your broker for all future trades.