Review–MProfit Portfolio Management & Accounting Software

This is one of the software I have been using for the last few years and have found it very simple and effective to use for tracking an equity portfolio. But i believe it has a lot of features for tracking all your assets.

Disclosure – This is not a paid post.

This is a short review by a team mater – Prakshat

MProfit is developed by a Mumbai based software company called MProfit Software. There is a free version as well as a paid version.  The free version is for the India retail investor while the paid one is for accountants, CA’s, traders, financial advisors, HNI’s and companies. The paid version costs between 3657-14020 INR for a 1 year subscription. It is also available on android allowing you to see your financial details on the go. The features that are listed by MProfit are the following –

· Individual as well as Advisor version available

· Simplified Accounting

· Import data from over 2,000+ sources

· Reports for goals, annualised returns, capital gains (with or without indexation), asset allocation, XIRR and others…

· Auto price updates for stocks, F&O and ETFs (15 minute delay), daily listed bond prices of capital market segment and mutual fund NAVs

· All your financial data is saved locally on your computer for data security

MProfit can be downloaded from https://www.mprofit.in/download/

Once we open MProfit this is what we can see -

There are 3 sections on the app – PMS, Accounts and FNO. In the free version only PMS and Accounts is available.

PMS

In the PMS section you can enter your transactions of various asset classes like mutual funds, equity, debt , insurance, PPF , EPF, fixed deposits. Investment data can be entered manually or you can upload the contract notes provided by your broker. All stock prices are refreshed every 15 minutes in the app.

The picture below depicts the first section in the PMS which is stocks where one can enter their stocks manually or upload their brokers contract note and it shows your P&L account of your holdings.

The mutual fund section shows your holdings with the updated NAV of the scheme.

One can also add their insurance details as well as details of their asset class holdings.

All the asset classes are listed on the side and one can simply double click on them to add individual details.

One can upload the contract notes by using the import feature in MProfit. It shows the menu with brokerage names where the user can select their broker and upload the contract notes –

MProfit has a report launcher that allows you to see your portfolio summary in different methods. The methods are –

1. Analytical - This method allows the user to see their trading profit and loss, annual return percentage and realised and unrealised gains and losses.

2. Transactions - This method shows all the individual contract notes details wise and summary wise and they can be segregated by date and by purchase and sale. This is valid for all asset classes not only equities.

3. Capital Gains – This method shows long term, short term and speculative gains in a transaction based summary and also arranges the entries in an income tax return format.

4. Accounts – This method is a summary divided into income, closing balances, holding period and in a stock register format.

5. Advanced - This method allows one to see their asset allocation, goal based allocation and historical pricing.

6. Miscellaneous – This method shows STT and brokerage details as well as transaction charges and due dates for payments.

ACCOUNTS

In the Accounts section you can link various bank accounts and you can prepare your books of accounts on this app by syncing your bank accounts to MProfit. You can also manually add your transactions to make your books of accounts by filling in the vouchers and receipts tab as shown below.

You can also sync your investment data and you will get a trial balance, P&L statement and balance sheet.

PROS AND CONS

The pros of the app are that one can track their investments in all asset classes in one app and this enables one to have all their financial information at their fingertips.

All stock prices are refreshed every 15 minutes in the app and thus an investor is always aware of the current value of his holdings.

The issue that one might have with the app is that certain brokers contract notes will not be accepted on the software (nearly all the big brokers have been included in the app).

Also a person will have to update or upload their financial transactions every day and for a trader or short term investor this might prove to be tedious.

One can learn how to use the app in detail on the MProfit youtube channel. The link is provided below –

https://www.youtube.com/user/MProfitSoftware

Mprofit Investor Portfolio Management and Accounting Software 1 PC 1 Year(CD)