How to correct for errors in mutual fund migration

Unknown

Hi,
I'm migrating from Q2007 for Mac to Q2017 for Mac.
My banking information seems to have worked ok, but my mutual funds are all way off...I think the problem is that Q2017 doesn't recognize that when I sold shares in the past I took the money out (and it's gone now). It seems to think that the value of those sold shares is still in the account...but in Q2007 my balance before migrating was correct..?
For example in Q2017 in one account it says I have 155 shares priced at $44.64 which is about $7,000 BUT it shows the value of the account as being $24,023 and todays balance as $13,149.....
Any ideas on how to fix this?Thank you!

Alan.

Unknown

I had a similar problem when I migrated from Q2007 to Q2017, Mac versions. My problem was with stocks, JPM, to be specific. I sold the shares years ago but some still showed up. To complicate things, I recently bought JPMChase shares. What I did was delete the old JPM transactions, some back to 2001. It worked. It may not work for you but just a suggestion.

John_in_NC

Your account needs to reflect what happened in the real world. If you sold those shares and transferred the $ to another account, make sure there are transactions there to reflect this. If you no longer hold a security, then you shouldn't be showing owning it.

I suspect part of your issue may be from Quicken's "2 in 1" style transactions originally designed to improve efficiency. Those style transactions are more like to pose problems when converting to different versions. 

Unknown

John in NC said:

Your account needs to reflect what happened in the real world. If you sold those shares and transferred the $ to another account, make sure there are transactions there to reflect this. If you no longer hold a security, then you shouldn't be showing owning it.

I suspect part of your issue may be from Quicken's "2 in 1" style transactions originally designed to improve efficiency. Those style transactions are more like to pose problems when converting to different versions. 

John,
Thanks for your help!
In Q2007 when I sold those shares, they were just recorded as "sold"...gone from the account. Consequently the value of the account was reduced....BUT it seems Q2017 is looking back and seeing that the shares are sold...but the Q2017 thinks the money from those shares is still in the account....
Is this what you are referring to as "2 in 1 style" transactions?Not really sure how to fix this...?

John_in_NC

John in NC said:

Your account needs to reflect what happened in the real world. If you sold those shares and transferred the $ to another account, make sure there are transactions there to reflect this. If you no longer hold a security, then you shouldn't be showing owning it.

I suspect part of your issue may be from Quicken's "2 in 1" style transactions originally designed to improve efficiency. Those style transactions are more like to pose problems when converting to different versions. 

There is a difference between Remove Shares and Sell Shares in 2017. The former will simply remove them from the account. The latter will remove them and add the $ to the cash balance (which is normally the case. Then you do something else with the $)

Some versions such as 2007 had some funky 2 in 1 transaction that allowed for a buy or sell and transfer in a single step. I think you will find this as the source of your problem, so look at what is going on. I am not a fan of these hybrid transaction.

smayer97

Ok, so this has prompted me to create a new IDEA to call attention to this, as this is important. 

You can add your VOTE to Add ability to handle Buy/Sell of investments and Transfer effectively.

First, click on the underlined link above to go there, then click VOTE at the top of THAT page, so your will vote count for THIS feature and increase its visibility to the developers by seeking to have the features you need or desire end up in the latest version.

You may also want to add your vote to requests found on the 
List of Obstacles and Hindrances for Migrating from QM2007 or QWin to Quicken for Mac
This is a special list that draws attention to requests specifically related to this topic.

While you are at it, you may want to add your VOTE to related IDEAS found on the List of Requests Related to Investments and the List of Requests for Data Entry and Usability Options and Features. 

Click each underlined link to visit that page to see the selection and add your VOTE to promote that list, to encourage others to vote. Then click on the links there to vote on the specific requests.
 
This will help make the transition easier for you when you are ready to upgrade by seeking to have the features you are used to in Quicken end up in the latest version.

Your VOTES matter!

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)