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QWin 2017 Premier: Error in price paid for investment in certain situations

Unknown
Unknown Member
edited November 2018 in Investing (Windows)
I am using Quicken Premiere 2017 R14 for Windows. I have the following error when entering transactions in an investment account. The context is my work 401k charges a small monthly fee. This fee is paid by selling a small amount of the mutual funds, usually $1.00 to $2.00 worth. I'll record these as an investment sale and cash withdraw and then try to enter a third transaction from my investment purchase from my paycheck contribution. When I try to enter that third transaction I run into problems. The steps to reproduce are:

1. Go into an Investment account and click Enter Transactions.

2. Enter a sell transaction for Security #1. In my case this has been a small number of shares. Enter the number of shares, price, and click Enter/New.

3. Enter a Cash Withdraw transaction on the same transaction date. Enter the same dollar amount as was determined in the total sale from the previous step. Click Enter/New.

4. Enter a Buy transaction for Security #1. Enter the transaction date, number of shares, hit tab and Quicken appears to be calculating the price paid using the total from step 2 or 3. The only way to enter this transaction correctly is to close this window and click the Enter Transactions button.

Has anyone else experienced this issue?

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
    On the Sell for fees, the price per share may be inaccurate due to roundoff errors.

    When you enter the Buy transaction, try entering the dollar amount of your contribution so that Quicken can calculate the correct price per share.

    Does this fix it?
    QWin Premier subscription
  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 2018

    As Jim Harman said, always use the exact number of shares traded and the dollar amount (+/- any commissions). Let Quicken calculate the price per share to as many decimal places as it wants to. Any other way you'll end up with differences in the total transaction dollar amount or, worse, an incorrect number of shares traded. Either way, your account register won't reconcile to the actual holdings and cash balance.
    Use the information provided on your brokerage statement or the website to get the correct numbers.

    So, for
    #2 enter exact number of shares and exact total dollar amount, e.g. 0.123 shares, $1.99

    #3 enter a Miscellaneous Expense transaction instead of a Cash Withdraw. Categorize it to, e.g., Investment Management Fees. $1.99

    #4 Buy transaction for the paycheck contribution: Again enter exact number of shares bought and total dollar amount, e.g. 14.045 shares, $234.56

    The paycheck deposit transaction in your checking account should have a transfer to the investment account: $234.56

    The net effect on the investment account's Cash Balance after these 4 transactions should be $0.00

This discussion has been closed.