Getting Started with MiGain Reports
If you are a hands-on investor, you have probably been way too familiar with the stress and anxiety that comes with sorting out your contract paperwork around tax time. One of Migain’s most valuable feature is its ability to generate meaningful reports that are so comprehensive, it ended up saving your accountant the majority of the hours spent going through each contract; eventually saving YOU hundreds – or even thousands – in accounting fees. Sounds good? Let’s continue to learn more about each type of Migain report and how they can help you gain back control of your investment data.
Share Management Report
Share Management Report provides you with an all-inclusive insight into your share portfolio’s performance, backed by accurate calculations of Capital Gain/Loss and Dividends. Under the Financial Report tab, data accumulated from Capital Gain/Loss and Dividend calculations are displayed in one place – so you can easily find out exactly what your tax liability is for this financial year. Note that Migain allows data import to go back to 20 years, therefore our users can also gain valuable insight into their portfolio’s historical performance.
Property Management Report
In Property Management Report, similar to Share Management Report – you have full access to data on Capital Gain/Loss on your property investments, displayed in both table/numerical and graphical format. Under the Rental tab, the report also captures Gross Income, Total Expenses, Interest on Loan and Depreciation from rental properties you have in your portfolio.
Financial Report for Properties capture both your income from Rental and gains/losses from your property investments to show the Total Discounted Gain from your properties for the selected financial year.
Finally, Depreciations are calculated separately under the Depreciations tab.
Cash Management Report
The Cash Management Report records data on Credit Interests as well as Transaction Types of all your cash accounts. Insights into this type of data can help you manage your cash flow as well as achieve a thorough understanding of your current financial health.
Import statements from your bank under this category to record all cash transactions during the financial period of time of your choosing.
Records Loan payments and Loan interests for your properties.
Migain also allows users to track their credit card spending patterns with this feature.
Combine Report/EOFY Report
This particular report is called ‘Combine Report’ due to the fact that it gathers information from the previous reports on Shares, Property and Cash – in order to generate an all-in-one data page that tells you everything that you need to know about all of your investments. As Migain was designed under an accounting point of view – every single data point in this report will be meaningfully presented in one Excel spreadsheet for you to easily forward to your accountant.
Unrealised Gain/Loss Report
Think of this report as an Overall Performance report, where you can see how your investments – both in shares and properties – are contributing to your general portfolio performance. Notice that it said ‘Unrealised Gain/Loss’, which means the report only reflects gain/loss from investments that you have purchased but not yet sold.
All of the Migain reports are included in the Free Membership subscription which gives you all of the same benefits as our most valued subscription – the Migain Professional – for 60 days, completely free and no credit card required.
Sign up for your Free Membership offer and start importing your first portfolio today on migain.io!