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Reconciling Share Balances Problem

Unknown
Unknown Member
edited October 2018 in Investing (Windows)
I am using Quicken Premier 2017 but this seems to be a longstanding problems.  When I download investment transactions to Quicken and there is a difference in share balances between Quicken and the downloaded transactions, Quicken gives me the option to enter a placeholder transaction "for the difference."  However, if I do this it actually enters a placeholder for the total number of shares, which puts the balance wildly off.  I assume this is a bug but it has worked this way for so long, I'm beginning to wonder if there is another explanation.   Meanwhile, if I want to correct my share balances in Quicken I need to manually calculate the difference and enter that as the placeholder.  Seems quite cumbersome and not what I want.  Can anyone explain or help with this?

Comments

  • Unknown
    Unknown Member
    edited October 2018
    Well it sounds like a bug to me, a placeholder is the "balance adjustment" of the investment world.
    It should be a difference between what is in Quicken and what your financial institution says.

    On the other hand I have never paid enough attention to them to say one way or another if that has happened to me.  To me if I get a recommendation I need a placeholder that is an indication of one of two situations.
    1. The financial institution sent the wrong balance.  Vanguard would do this from time to time, I'm not sure if they have fixed it.  They would send the transactions at say 6 PM, but not update the balances till 11 PM.  For this case.  It is an "ignore for now".
    2. The share amounts in Quicken are actually wrong for various reasons like a reinvest being coded as a buy.  That is a flag to me to fix the transactions, not accept a placeholder.  Just as I wouldn't accept a balance adjustment when doing a reconcile on my credit card account.
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