Share Accounting is a specialized branch of financial accounting that focuses on recording, classifying, and analyzing financial transactions related to a company's shares. It also involves bifurcation of brokerages & taxes according to specific script wise as well as transaction-wise, determination of Profit & Loss, and type of gains that occurred (Long-term/short-term/Intraday profits) which ultimately helps while conducting an Audit.
Generally, people use Global reports provided by different trading accounts for accounting purposes which is not correct. Users should use specific reports like trading P&L reports, Script wise reports, Transaction-wise reports, Inventory reports and Contract note-wise reports for the actual fetching of data for accounting purposes.
Generally, User does trading activity on their trading terminal but do not maintain or check their daily Transaction ledger which creates imbalances while cross-checking it with Trading fund balance.
Majorly users buy and sell shares on a frequent basis but do not account for the same in their books which indirectly raises demand from the IT Department.
Sometimes User don't know about the type of gain they have accounted for in Their Tax Return Form, whether it is LTCG or STCG which also leads to rising demand from the IT department.
Users who own multiple Trading accounts may face problems related to the actual holding they have in all Trading accounts. They have to log in to numerous demat accounts for verification purposes, which is a very cumbersome process.
Eazemax allows users to keep records of all their Demat account balances in one place.
Users can track each transaction done on their respective Demat accounts, such as cash deposits, cash withdrawals, contract note statement details, etc.
Users can import contract note details via PDF or image directly into the software or manually enter details related to trading/investment to calculate actual profit & loss and brokerage details.
Users can manage day-to-day contract note summaries in the software for easy access to details.
Brokerage setup allows users to manage brokerage and tax calculation history of their respective broker (Demat) accounts for different segments like Equity, Currency, and Commodities.
Through Trading Reports, users can check their stock summary, stock holdings, trading profit & loss statement, script-wise trading profit & loss statement, and contract note-wise trading profit & loss statement in one place. This ultimately helps them understand the actual profit/loss related to the share market, along with the tax implications on Long-Term Capital Gain, Short-Term Capital Gain, Speculative Income, and Business Income.
EazeMax's Personal Accounting dashboard has four parts: Bank, E-Wallet, Credit Card and Share.