The landscape of doing business in India has significantly changed in the last one year following two major events, demonetisation and the launch of the Goods & Services Tax (GST). Both measures are expected to have a lasting positive impact on the Indian economy.
\nGST has come into effect on July 1, 2017 and is expected to simplify the complex indirect tax structure in India by subsuming over a dozen central and state taxes. A question on the minds of several MProfit users is how will MProfit adapt to the introduction of GST. We see two immediate changes:
\n1. Lower prices! – The tax tier for MProfit under GST has been changed and we are happy to announce that we have passed along the benefits to our users. You can see a price decline of around 4% across all versions of MProfit
\n2. Updates to import templates – Over the coming months, our technical team will work hard to swiftly modify all our import templates to incorporate expected changes to brokers’ contract notes.
\na) All contract notes and bills will have new taxes such as IGST, CGST and SGST instead of Service Tax, Krishi Kalyan Cess and Swachh Bharat Cess
\nb) MProfit now has over 2,300 templates to import contract notes & files across disparate formats such as PDF, HTML, Excel, CSV, Text and DBF. We will modify templates upon request from our clients on a first-come first-serve basis. This will of course be done at no extra cost to our users!
\nc) As we undertake this massive task to ensure MProfit continues to deliver seamless import functionality for all our users in a promising post-GST era, we greatly appreciate the patience and co-operation of our users. You can rest assured that the MProfit tech team will be working overtime to ensure a quick transition
\nIn addition to any changes to MProfit required by GST, we are also consistently committed to introducing new features to improve our core platform and address customer requests. We have recently released our new update v9.5 (build 1014.0272) which packs some new features and fixes minor issues. Below is a complete list of all new features and bug fixes.
\nNew Features:
\n• Addition of Sovereign Gold Bonds to the traded bonds category along with current prices. If you have already added these gold bonds under the NCD category, click here to learn how to transfer them to the traded bonds category.
\n• Bulk Delete option to delete records of an entire family in one go
\n• Recalculate closing balances of all families with a single click
\n• Move MF records from one MF scheme to another within the same portfolio instantly
\n• Import STT values from mutual fund CAS statements, CAMS WBR2 and Karvy 221
\n• New option to transfer STT along with charges in contract notes to purchase & sale value
\nBug Fixes:
\n• Fixed a minor bug in capital gains calculations when using bulk corporate actions for splits
\n• Fixed a minor bug in the incorrect allocation of contract note charges
\n• Fixed a display issue in the Balance Sheet report for ledger names with parentheses
Early reviews for the new MProfit beta version are in, and our users are already loving our new Cloud and Mobile applications. The below feedback has been provided by longtime MProfit client, M. Pari. We are thankful for having such a loyal & dedicated user base! “MProfit – A Great Financial Tool Today I have […]
\n","slug":"the-new-mprofit-reviewed","content":"\n\n\n\n\nEarly reviews for the new MProfit beta version are in, and our users are already loving our new Cloud and Mobile applications.
\n\n\n\n\n\n\n\nThe below feedback has been provided by longtime MProfit client, M. Pari. We are thankful for having such a loyal & dedicated user base!
\n\n\n\n\n\n\n\n“MProfit – A Great Financial Tool
\n\n\n\nToday I have downloaded the MProfit 10 in my Laptop and the App in my iPad and spent a couple of hours on exploring the various features of the App and the Reports/Charts that could be generated from Cloud.
\n\n\n\nThrough the App, now we are able to access the portfolio of the family and of members and could obtain the summary and transaction details of all assets and meaningful charts with simple touches on the screen.
\n\n\n\nIt is a wonderful milestone in MProfit for having introduced such a very user friendly App. Due care has been taken for the requirements of the users. Designing of the App has been well thought of and implemented very appreciably.
\n\n\n\nWith more than three decades of exposure as a Banker and the feel of the customer expectation, I admire your dedication to elevate the software to such an elite level and the concern you are exhibiting to the customer needs.
\n\n\n\nMProfit has become an inevitable financial life tool.
\n\n\n\nI congratulate the entire team of MProfit and extend my sincere thanks as a user.”
\n","date":"2019-05-04T16:01:53.000Z","path":"/2019/05/the-new-mprofit-reviewed/","categories":[{"name":"News","id":"ba8e13dd-b42a-585f-8bb8-44db5826c7ab"}],"featured_media":{"localFile":{"childImageSharp":{"fluid":{"aspectRatio":1.1904761904761905,"src":"/static/f963254d3def15fb50eeb27a245d6971/69585/Feature.png","srcSet":"/static/f963254d3def15fb50eeb27a245d6971/ef958/Feature.png 50w,\n/static/f963254d3def15fb50eeb27a245d6971/65e33/Feature.png 100w,\n/static/f963254d3def15fb50eeb27a245d6971/69585/Feature.png 200w,\n/static/f963254d3def15fb50eeb27a245d6971/630fb/Feature.png 300w,\n/static/f963254d3def15fb50eeb27a245d6971/497c6/Feature.png 400w,\n/static/f963254d3def15fb50eeb27a245d6971/a7bea/Feature.png 1376w","sizes":"(max-width: 200px) 100vw, 200px"}}}}}},{"node":{"title":"New MProfit Cloud & Mobile Apps","excerpt":"We are happy to announce that a new version of MProfit is now available in Beta. This new update comes packaged with the Phase 1 launch of our much awaited MProfit Cloud platform for Free & Paid Users. What this means for you: With MProfit 10, you will now be able to manage your investments […]
\n","slug":"new-mprofit-update-with-cloud-beta-release","content":"We are happy to announce that a new version of MProfit is now available in Beta. This new update comes packaged with the Phase 1 launch of our much awaited MProfit Cloud platform for Free & Paid Users.
\nWhat this means for you:
\nWith MProfit 10, you will now be able to manage your investments in MProfit, sync your data to Cloud, and view your MProfit portfolios on web browsers, mobile or tablet devices.
\nDownload MProfit 10 and start tracking your investments on MProfit Cloud immediately. By doing so, you agree to become an MProfit Beta user.
\nKey new features of MProfit 10:
\n____________
\nFor Advisors:
\n__________
\nPlease note: MProfit 10 is compatible with Windows 7 SP1, Windows 8 and Windows 10. Windows XP users will not be able to use this new version.
\nMProfit 10 & MProfit Cloud are currently available in a pre-release Beta version. Additional functionality and reports in MProfit Cloud will be rolled out in a phased manner over coming months.
\nWe are currently seeking feedback from MProfit 10 Beta users. If you have any questions or would like to request a demo for MProfit 10 & MProfit Cloud, please contact our support team at 022-40024149 or email us at support@mprofit.in.
\nOnce you download the new version, Click here to learn how to access MProfit on Cloud and Mobile.
\n","date":"2019-04-16T07:04:04.000Z","path":"/2019/04/new-mprofit-update-with-cloud-beta-release/","categories":[{"name":"News","id":"ba8e13dd-b42a-585f-8bb8-44db5826c7ab"}],"featured_media":{"localFile":{"childImageSharp":{"fluid":{"aspectRatio":1.7241379310344827,"src":"/static/f822ae17a01ca016dd22d9addffd472a/69585/ID-5-For-Homepage-5.png","srcSet":"/static/f822ae17a01ca016dd22d9addffd472a/ef958/ID-5-For-Homepage-5.png 50w,\n/static/f822ae17a01ca016dd22d9addffd472a/65e33/ID-5-For-Homepage-5.png 100w,\n/static/f822ae17a01ca016dd22d9addffd472a/69585/ID-5-For-Homepage-5.png 200w,\n/static/f822ae17a01ca016dd22d9addffd472a/630fb/ID-5-For-Homepage-5.png 300w,\n/static/f822ae17a01ca016dd22d9addffd472a/497c6/ID-5-For-Homepage-5.png 400w,\n/static/f822ae17a01ca016dd22d9addffd472a/8eab8/ID-5-For-Homepage-5.png 1336w","sizes":"(max-width: 200px) 100vw, 200px"}}}}}},{"node":{"title":"MProfit makes Portfolio Management simple for Zerodha clients","excerpt":"A pioneer of the “discount broking” model in India, Zerodha has established itself as India’s biggest stock broker by active retail clients, and the biggest by trading volumes on India’s top stock exchanges. Over 1 million clients actively trade with Zerodha every day, contributing to over 10% of Indian retail trading volume. Differentiated by its […]
\n","slug":"mprofit-makes-portfolio-management-simple-for-zerodha-clients","content":"A pioneer of the “discount broking” model in India, Zerodha has established itself as India’s biggest stock broker by active retail clients, and the biggest by trading volumes on India’s top stock exchanges. Over 1 million clients actively trade with Zerodha every day, contributing to over 10% of Indian retail trading volume.
\nDifferentiated by its unique offering of sleek and intuitive trading tools, Zerodha has played an important part in transforming the brokerage industry in India. Zerodha’s “discount brokerage” model exempts clients from broking charges on equity investments. Further, it offers a flat fee of Rs. 20 on intraday and F&O trades.
\nMProfit can attest, better than anyone, that Zerodha has become an important member of the Indian financial markets ecosystem. Our daily interactions with current MProfit clients provide us a with good reading of how popular Zerodha is with investors today.
\nSimilar to MProfit, Zerodha places emphasis on robust customer support and user feedback. We have learned this first-hand from our recent interactions with Zerodha to collaboratively resolve data import roadblocks for our mutual clients. At MProfit, we have worked hard to incorporate support for various kinds of Zerodha trade files in our platform. Our mutual clients with Zerodha can thus easily import their transaction data into MProfit to obtain a seamless portfolio management experience.
\nCurrently, MProfit provides full import support for Zerodha transaction statements across Stocks, F&O, Commodities (MCX), Currencies and Mutual Funds. Transaction statements supported by MProfit include Daily Digital Contract Notes received via email, PDF Contract Notes exported from Zerodha’s Q Backoffice and Excel Tradebook Files exported from Zerodha Q Backoffice.
\nClick here for detailed information on how you can import your desired Zerodha statements into MProfit.
\nThank you for being a valued member of the MProfit ecosystem!