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Updating Investment Account - Matching Security

unknown

I am using Quicken 2017 Home Business Windows but I have been experiencing the same issue for the current and older versions.

By way of background I make about 1,000 stock option trades each year. I currently have a data file going back 10 years. This gives me a total of at least 15,000 transactions in my investment accounts.

Here is the issue: Updating Investment Account Statements - Quicken tries to automatically match the current download from my brokerage accounts with my current transactions. When it fails I have to go to a Matching Security screen and manually match the transaction with an existing position or add the new transaction to my list of securities.

Why can't I hide some of the 15,000 transactions (most of which have long ago expired) in the matching security list? Options from 2015 for example have long expired and are no longer in my portfolio but I have to scan past them in order to match a new download with a current position.

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K.O. (Win-Premier)

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

unknown

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

Kevin, you are spot on. You are accurately describing my issues with securities in the portfolio section.

It is very frustrating and as most users just use the basics in Quicken I doubt it will ever be resolved.

It might be drastic but I thought about a way to reduce the number of transactions and speed up Quicken. I use my TD Ameritrade reports for my income tax filing. So for example I could go into Quicken and delete an option that I bought in 2013 and sold in 2013 and simply keep up with the profit or loss for the transaction and make a year end adjustment. I would lose the performance of the portfolios in any Quicken reports but I could do it year by year and simply track a total for 2013, 2014 and so on.

I would leave any existing stock positions but the options that I bought and sold previously could be deleted.

Maybe not smart but I still would like a way to clean up my file.

I will be changing to a new broker Tastyworks.com so I will have to wait and see if their downloads match up an y better than TDAs.

Thank you for the response.

K.O. (Win-Premier)

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

Bill ... A fellow tastytrader I see. That's awesome. I'm funding my tastyworks account this week.

Kathryn (or Quicken Rep) - Please pass along my personal email address to Bill.

Bill - If you want to connect on tastytrading and Quicken off the forum drop me an email once the Quicken rep sends you my email.

What I have decided to do on a trial basis (i.e. for some of my accounts) is to not track the activity at all and just update the Net Liq (account value for non-tastytraders) once a month. I'm trying this with IRA accounts now since the capital gains aren't a factor. If it works out and Quicken doesn't address investing flaws in v2018 (which I believe they will to some extent) then I may move to this approach for all accounts starting 1/1/18.

Quicken Colin

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

That should be taken care of, and that email sent. Sorry for the delay.

unknown

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

"What I have decided to do on a trial basis (i.e. for some of my accounts) is to not track the activity at all and just update the Net Liq..."

Kevin- This is exactly what I've started to do about a month ago. After tracking 1000s of trades through TOS/TDA for over a decade, I finally decided it's taking too much of my time and now I just periodically update the Net Liq.

And since tastyworks doesn't have a download yet - and likely won't anytime soon, It's kind of the only choice there. I find it's not really an issue (at least with TD) since the gainskeeper info made doing taxes a breeze. I'm hoping TastyWorks has similar end of year reports come tax time that can be easily (and accurately) imported into TurboTax.

Good to see I'm not the only tastytrader with that dilemma.

Cheers!
Nick

unknown

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

Sorry but here is maybe a stupid question.

How do I adjust the Net Liq in Quicken? Do i simply make an adjustment and classify it as an adjustment? Will my net worth and account values still work?

I love the thought but I am unclear on exactly how to accomplish the update and skip downloading.

Thanks in advance.

Bill

K.O. (Win-Premier)

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

Click the gear in the upper right of the register and then select adjust cash balance.

unknown

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

I used to just adjust the cash balance, but what I started doing this week was I created a Security that matches the name of the account in Quicken, like 'TD Roth IRA.' Then I entered a buy order for 1 share of that security for the Net Liq at the time. For example, if the net liq was $2500, buy 1 share at $2500.00.

Then just periodically update the share price. I find the best way to update the share price is to click on Holdings, then doubleclick in the Quote/Price field and update the price. It works pretty slick because it records the share price for the day that's listed in the top right "As of" date.

The reason I started doing it this way is now it captures my cost basis so I can see my performance. It also is technically just one transaction at least until you deposit or withdraw funds. Depositing (or withdrawing) funds makes it a bit more cumbersome. What I've been doing, so I can maintain the proper cost basis, is I'll record a buy of 1 share for a share price of the total amount I'm depositing. Simple enough, but where it gets cumbersome is you now have to do a little math to get to the proper share price on an ongoing basis. Take your net liq, divide by the number of shares, and that's the current share price.

So if you had two deposits of $3000 (1 share @ $3000) and $7000 (1 share @ $7000) and your current net liq is $11,000 your share price would be $5500 (11,000 net liq divided by 2 shares), Your cost basis would show $10,000 and your gain would be $1000.

So far it's working well for me at takes a few seconds to update the share price.

unknown

I don't have a solution for you Bill but can share some information. I trade options as well. After their expiration date I hide them by clicking the hide checkbox in the securities list (I also uncheck download quotes). This works reasonably well but there are still challenges.

IMO there are 3 flaws in the Matching Security function. First, the list of existing securities does not obey the "view hidden securities" setting so the list is excessively long. Second, there is no way to search the list so the user has to scroll through thousands of securities trying to find the "one" match. Third, securities supposedly match on the CUSIP but their is no way to see the CUSIP for the downloaded security and its very hard to see the CUSIP for existing securities and truly identify why Quicken thinks the downloaded security is or is not a match to an existing security.

Very interesting workaround to the deficiencies in Quicken when it comes to tracking investments.
I am changing over to Tastyworks brokerage to save on commissions but so far they have not setup actual downloading of my transactions.
What is important at the end of the day is tracking my performance (or lack thereof LOL) and making it easy sure helps. I love the investment performance graph in Quicken, I just wish it always worked.

Thanks for your help.