QWin 2017: Redemption of shares in mutual fund

Jeff32@

I'm trying to record a mutual fund redemption in Quicken. After updating info from the web site and Quicken I see the number of shares owned is off by up to .24 shares. And the price/share is off by as much as $.18. Total value of funds is off by $72 as a result. Is this just rounding differences? Using Quicken 2017 Home & Business. 

K.O. (Win-Premier)

Very likely could be rounding issues.  The only way to really figure it out is to reconcile every transaction to see where the differences are.  There is also a chance you may be missing a small (e.g. dividend reinvestment) transaction.  Depending on how many transactions you have in total it may or may not be worth going back through all transactions.

Jim_Harman

That sounds like a lot for rounding differences.

Before the redemption, did the share balance in Quicken match your most recent statement? If not, you will have to match your transactions in Quicken with those on your statements and correct any discrepancies. Perhaps Quicken is missing a dividend reinvestment.

For the share price, there are many sources that Quicken might be using:
-- calculated based on your transactions
-- downloaded from Quicken's service provider manually or during One-Step Update
-- downloaded from your financial instution
-- entered manually by you using Edit Price History from the Security Detail view. 

any of these might be incorrect. 

Vetta

Jim Harman said:

That sounds like a lot for rounding differences.

Before the redemption, did the share balance in Quicken match your most recent statement? If not, you will have to match your transactions in Quicken with those on your statements and correct any discrepancies. Perhaps Quicken is missing a dividend reinvestment.

For the share price, there are many sources that Quicken might be using:
-- calculated based on your transactions
-- downloaded from Quicken's service provider manually or during One-Step Update
-- downloaded from your financial instution
-- entered manually by you using Edit Price History from the Security Detail view. 

any of these might be incorrect. 

I would bet it's a missing dividend reinvestment.

NotACPA

@Jeff, by any chance is this issue with OneAmerica's 403b plans?  Because I reconcile every month ... and after my wife's next paycheck and downloading those 403b contributions, there's a difference (mid-month) of a few fractions of a share ... EVERY PAYCHECK.

I'm figuring the OneAmerica simply isn't sending the correct info.  Because there shouldn't be any changes between a reconciliation as of 7/31 and a paycheck on 8/1 except for the contribution purchase.

Jim_Harman

Jeff,

Another possible source of the discrepancies could be delays in making the actual investments. For example in a 401(k) it may be two weeks or more between when the money is taken out of your paycheck and when the fund is purchased. Thus the share price is different from what you might expect. Your provider's statement may not make this clear, only showing the total shares and account value at the end of the period.

Sometimes the best you can do in Quicken is to work backwards from the increase in shares during the period and the total amount contributed to get an "effective" share price, assuming the shares were purchased at the end of the period. At least your share balance will match the provider's.