QWin 2016 (R12): Just starting downloading brokerage account data
edited July 2018 in Investing (Windows)
I am just setting up an IRA brokerage account to download transactions from my financial institution. Unfortunately, I started using Quicken many, many years ago (>20), and I have been too lazy to set up the IRA accounts properly as new functionality became available. I just had a placeholder account that I updated from time to time with the total net worth of the account (mostly to stroke my ego by including the total in my net worth). Does anyone have any advice for how to fix this and transition to downloading transactions with the least reasonable effort? I was planning on just downloading all of the available transactions into a new account and just zeroing out the old account on the earliest date I have transaction history from. At least I can start building a transaction history that way. At least it's in an IRA account, so cost basis isn't likely to be a big concern. Any tips?
My approach: Pick a date like Dec 31, 2016.
New account: Enter the holdings as of that date. Then enter each transaction going forward including your contributions.
I would kill the old account. If you have a date where you have accurate holdings in the old account, you could just enter transaction in that account to get it current and maintain.0
Unknown AlumniHi QuickenGeek,
I'm sorry for any inconvenience this has caused. To help us provide you with the most appropriate answer, please let us know which Quicken product (QWin or QMac), what version (2016, 2017,etc.) and what release you have installed. Also, let us know whether you using the US version of Quicken or Quicken Canada.
Thanks Hershey. That's about what I decided to do. I just zeroed out the old account on the 2015 date that is the oldest that I was able to get transactions for when I started downloading today. The old account never had anything other than a cash value in it anyway, so I'll just have a weird expense blip on that date in my charts and graphs. I appreciate your prompt reply.
Quicken Dave, I am using Quicken Deluxe 2016 for Windows, Release R 12 (18.104.22.168). This isn't a problem with Quicken, though, so much as a problem with my lazy accounting that I am trying to improve upon. I just don't want to manually enter 20 years of history that I probably couldn't find even if I wanted. I have another account, not quite so old, that I need to do the same thing with. I may give it a few weeks to see how this works out and then do the same with that one.0
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