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Stock split whole shares, cash in lieu for fractional shares

UnknownUnknown Member
edited October 2018 in Investing (Windows)
Quicken downloaded a 2-for-1 stock split incorrectly.  I received a split of the whole shares I own, but I received a cash-in-lieu deposit for the fractional shares.  Quicken entered a 2-for-1 split of all shares, including the fractionals, and a cash deposit.  Now Quicken lists an incorrect number of shares.  How do I correct this?  [Quicken 2015 Deluxe for Windows, Windows 10]

EDIT:
I think I answered my own question.  After posting I ran across a few conversations dealing with cash-in-lieu transactions, and I saw how it applies to me.  Basically, I entered a Sell transaction for the number of fractional shares I owned before the split, putting the cash-in-lieu amount in the total sale field and allowing Quicken to calculate the per share price.  I dated the sale the same day as the split.  Then I deleted the cash-in-lieu deposit.  Now my cash balance and the number of shares are correct.

Comments

  • NotACPANotACPA SuperUser, Windows Beta Beta
    edited October 2018
    Glad you got it figured out ... but a couple of things need to be clarified.

    1) after that initial download, you could have just sold all fractional shares for the Cash rec'd ... and deleted that downloaded cash txn.  Result is the same ... and probably more accurately reflects what happened.

    2) All investment downloads are Direct Connect .. in which the brokerage completely controls what's in the download.  It wasn't Q that downloaded wrong ... but rather your brokerage that sent incorrect data (incorrect transactions to reflect what happened).
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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