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How to get Quicken and Fidelity positions in sync?

Unknown
Unknown Member
edited January 2018 in Investing (Windows)
I use automatic updates monthly for my accounts in Quicken 2016 Deluxe for Windows. Looking at my Fidelity IRA account with 10 positions, the positions in Quicken are not the same. A position(s) that exists in Fidelity does not exist in Quicken and vice versa. How can I adjust Quicken to match the Fidelity statement?

Comments

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited January 2018
    By "automatic updates monthly" I assume that, one way or another, you've been downloading information into your Fidelity Account in Quicken, not entering your transactions manually.  If this has always been the case - from the time you established the account with Fidelity to now - your Quicken Account should be in sync with Fidelity and you may want to investigate more closely the differences.

    However if you simply want to get the positions in sync without worrying about the transactions that brought you to those positions, then using the "Added" and "Removed" Actions in you Quicken Account should accomplish this.

    You would enter a "Removed" Action transaction in the Account to eliminate the security that exists in Quicken that is not in the account per Fidelity.

    You would enter an "Added" Action transaction in the Account to establish the security that exists in Fidelity that is not in the Account per Quicken.  Assuming the Fidelity account shows the cost basis for each security you would use a combination of number of shares and price per share to bring the total cost basis in Quicken in agreement.  Use a "Date Acquired" date that's roughly correct as, typically, the "holding period" is not of much consequence inside an IRA.

    Neither of these actions will affect any cash balance in the Account.
  • Unknown
    Unknown Member
    edited September 2016
    Thanks much for the quick(en) reply. Yes, I use "One Step Update" to update my accounts but somehow my Fidelity holdings got out of sync. I'll follow your guidance to put them in order.
  • Unknown
    Unknown Member
    edited September 2016

    Thanks much for the quick(en) reply. Yes, I use "One Step Update" to update my accounts but somehow my Fidelity holdings got out of sync. I'll follow your guidance to put them in order.

    I followed your guidance and my accounts are in sync now. Thank you. 
This discussion has been closed.