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How to build investment history (and avoid placeholders?)

Unknown
Unknown Member
edited December 2019 in Investing (Windows)

Placeholder records are being introduced as I try to build my investment accounts from 9/27/2012 to current. I had to manually enter the sept. transactions then have downloaded the oct - dec, 2012 and jan-mar, 2013 transactions from the brokerage. 

I reconciled my Dec. 2012 statement before the next download. In my first qtr of 2013 download, I clicked "Accept" for downloaded transactions and Quicken said it needed more information for some transactions. On the first "sold" transaction I clicked "accept" on, it came back with "Not enough open shares to cover your request". I did the "recalculate register" step and got same result. 

 It looks like the placeholder removed my 1843.575 shares in the particular security (to zero) then added back 1095.758 shares in another placeholder. My next quarter brokerage statement had a sell for this security of 1318.532 shares -- probably giving rise to the "not enough open shares" message. 

So it seems I can't proceed without resolving the placeholders. And WHY are the placeholders being introduced anyway? 

 I saw some explanation about during the download Quicken checks current holdings (1108.33) and compares to cumulative transaction shares -- then introduces placeholders if unequal (?). Brokerage activity preceding the sale had not reduced the shares in that security. 

 So Quicken seems to be complicating things here. If, in the entry of old history, Quicken is going to constantly compare to current holdings, I'm battling constantly against its placeholders. 

What can I do? Can I safely delete all placeholders while I'm building my history? Can the check against current holdings be turned off until after all my transactions are entered? 

 This is a long tedious process at best and for Quicken to be tossing in activity that has to be evaluated is a real nuisance!

Comments

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018

    Placeholders are (almost) always an option. My policy is to never accept them. Instead I take note of the reported discrepancy and research it on my own and make my own correction as necessary. So yes, I would say you can delete all the placeholders.


    As you are downloading transactions, I encourage you to only accept transactions individually; avoid the temptation to Accept All. Make sure they are entering with the correct security, date, dollars and shares. Once you have your history built, you'll be able to show a little more flexibility with your downloaded transactions.


    Downloaded transactions and holdings from the brokerage are typically based on CUSIP number for the security, not name or ticker. Name and ticker are separate information bits. The user matches those identities to the users Quicken securities. If those pairings get mismatched, strange results can develop. If you see a brokerage transactions for Stock A and the download in Quicken is calling it Stock B, you likely have a mismatch. Edit the security details in Quicken and uncheck the matched with online security box. At the next opportunity, Quicken will offer to rematch and you make the correction.


    I would not be surprised to see the brokerage send current holdings along with the older quarter transactions. I don't know that some do that, but it is quite possible. Redetermining and transmitting your 2nd Q 2012 holding some 2 years later (for example) could be a challenge. So that may be a valid explanation for your placeholder values. You would need to examine the specific share quantities to confirm that.


    Yes, there is an option to turn off the Compare to Holdings feature that generates the placeholders. Look under the Online Center for the particular FI and accounts.
  • Unknown
    Unknown Member
    edited December 2019


    Placeholders are (almost) always an option. My policy is to never accept them. Instead I take note of the reported discrepancy and research it on my own and make my own correction as necessary. So yes, I would say you can delete all the placeholders.


    As you are downloading transactions, I encourage you to only accept transactions individually; avoid the temptation to Accept All. Make sure they are entering with the correct security, date, dollars and shares. Once you have your history built, you'll be able to show a little more flexibility with your downloaded transactions.


    Downloaded transactions and holdings from the brokerage are typically based on CUSIP number for the security, not name or ticker. Name and ticker are separate information bits. The user matches those identities to the users Quicken securities. If those pairings get mismatched, strange results can develop. If you see a brokerage transactions for Stock A and the download in Quicken is calling it Stock B, you likely have a mismatch. Edit the security details in Quicken and uncheck the matched with online security box. At the next opportunity, Quicken will offer to rematch and you make the correction.


    I would not be surprised to see the brokerage send current holdings along with the older quarter transactions. I don't know that some do that, but it is quite possible. Redetermining and transmitting your 2nd Q 2012 holding some 2 years later (for example) could be a challenge. So that may be a valid explanation for your placeholder values. You would need to examine the specific share quantities to confirm that.


    Yes, there is an option to turn off the Compare to Holdings feature that generates the placeholders. Look under the Online Center for the particular FI and accounts.

    Thanks, q.lurker, a very helpful response!!
This discussion has been closed.