If you are looking for a Personal Finance Software to manage your investments, you can try a hand at MProfit. Developed by a bunch of techies who have a co-passion for financial services, the market is all abuzz about Mprofit, a simple, friendly and yet extremely powerful personal finance software that lets you track and manage all your financial assets and investments in a single location. MProfit gives a consolidated view of all your investment instruments like stocks, mutual funds, F&O, insurance, gold, fixed deposits, private equity and many more at one go which lets you analyze better and make informed decisions.
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With the growing popularity of Mprofit, our team at SoftwareSuggest.com made an in-depth analysis of the best accounting software, before presenting the varied features of the software to our readers.
Investment Management from a single location
Diversity is the core fundamental of any good financial portfolio. But with various investments at various sources (different bank, different brokers, different companies etc.) including PPF, ETFs, FDs, Stocks, ULIPs, Insurance policies, Private equity, Bonds, MFs, property, art, gold, silver, and others, investors find it extremely clumsy and difficult to compare, assess and manage all of them at one go. Here, Mprofit comes handy as the software allows investors to feed and view all the information in one screen. One can actually compare which investments are giving you more return and which are not, thus making clear decisions about switch over or further investments.
Individual and Group Portfolios
Another strong and much appraised feature of Mprofit is managing individual and group portfolios. This feature empowers the portfolio managers with the management of Multiple Portfolios & Groups by creating multiple portfolios, grouping the portfolios for creating a family group portfolio, adding a portfolio to multiple groups and generating various group reports for tracking the performance of the group portfolio.
What is there in store for Stock Investors?
Mprofit is rapidly becoming a hot favourite of stock investors as they can use the software to not only track the purchase & sale transactions, but also dividends, annualized return (XIRR), current value, Daily gain and overall gain. Mprofit allows the stock investors to import and manage data from various brokers and Excel sheets. They can also benefit from reports on Intra-day, short term and long term capital gains, and many more.
Why MF and ETF investors prefer Mprofit?
In addition to the above benefits, mutual fund and ETF investors can manage buying, selling, reinvesting dividend and addition of bonus units. The software allows them to import data from mutual fund registrars like CAMS and KARVY and online portals such as Prudent Corporate Advisory, FundsIndia.com, NJFundz, and others. The investors can also set reminder alerts for Lock-in period for MFs, maturity dates and premium dates.
Integrated Accounting Module
The team of Mprofit upgrades and updates the accounting software on a regular basis. Recently, they released an accounting module which provides seamless integration with the portfolio management section (PMS). The Journal vouchers, payment and receipt voucher entries are auto-generated from stocks, mutual funds and F&O transactions and posted in their respective ledger accounts. With this feature you can also maintain bank and cash accounts, allow mutual fund switch-in and switch-out support in accounts and get a group ledger view.
Mprofit makes Capital Gain calculations a breeze
When filing the income tax returns, the investors need to prepare the capital gains calculations for your short-term and long-term gains for stocks and mutual funds. MProfit follows the FIFO method to calculate and provide various simplified reports and summary for capital gains calculations. Capital gains reports are listed separately for equity mutual funds and debt mutual funds because taxation is different for both the types. We feel the need to mention here the fact that the software calculates and adjusts capital gains calculations based on corporate actions such as merger, de-merger and split and bonus as per the income tax rule, with effective from the date of this corporate action.
What gives Mprofit an upper hand over its competitors?
Investors prefer Mprofit not just for the features which help them to manage their investments but also for top notch facilities provided by the software including Data Security and Database update for mutual funds, ETFs, newly listed stocks, and company name change updates. Newly added reports and features can be easily upgraded and updated to existing version of Mprofit. The software also allows varying password controlled access for an owner (full access) and users besides providing support for internet proxy settings. We had tremendous feedback on this article : Benefits of Booking Engine & Channel Management System – DJUBO.
Newly added features
On demand and request of their customers, the dedicated builders of the software have introduced several new features which have been openly welcomed by the users. Now the users can undo last import if they had mistakenly imported their last transaction. Now, it just needs a single click to apply dividend, bonus, split and merger to all your portfolios or to transfer closing balances to the capital account at the year end. Auto mapping for mutual funds has also been enhanced by the company.
What the satisfied customers have to say?
Mprofit has a long list of customers from diverse fields.. Some of its well known customers include GEPL securities, Tata Securities (Stockbrokers), ITC Ltd. from Kolkata, Mittal Builders from Mumbai (Corporate Houses), ASP Consulting from Mumbai, Eagle Wealth Advisor from Nasik (Financial advisors) and many more. Says Bihag Parekh, Investment Advisor, Ahmedabad,“I can confidently say MProfit is an excellent financial report solution provider (it is not just a software) and the team is excellent to interact with it. Keep it up !!!! “
To sum up, we at Softwaresuggest.com give a clean THUMBS UP to the software.