Stock sale reporting as stock purchase

Unknown
Unknown Member
edited November 2018 in Investing (Windows)
When importing from Alerus Financial (401(k)) account, stock that is sold is being entered as a purchase instead of a sale, I have to go through each individual transaction to correct.  How can I correct this?

Comments

  • K.O. (Win-Premier)
    K.O. (Win-Premier) Quicken Windows Subscription Member ✭✭✭✭
    edited November 2018
    I suspect this is an issue with how Alerus is sending the data through to Quicken.  If it were not then everyone downloading transactions would be experiencing this problem.  The only way to verify this is to look at the OFX log file and see what Alerus is sending.  And if this is the case it is something to address with Alerus.
  • Unknown
    Unknown Member
    edited December 2017
    K.O. (Win-Premier) said:

    I suspect this is an issue with how Alerus is sending the data through to Quicken.  If it were not then everyone downloading transactions would be experiencing this problem.  The only way to verify this is to look at the OFX log file and see what Alerus is sending.  And if this is the case it is something to address with Alerus.

    Thanks Kevin, it looks correct from Alerus as a sale, it just shows up in Quicken as a decrease to the cash balance until I go in an "edit" the transaction and click the "enter/done" button, then it is recorded correctly with an increase to the cash balance.
  • K.O. (Win-Premier)
    K.O. (Win-Premier) Quicken Windows Subscription Member ✭✭✭✭
    edited December 2017
    K.O. (Win-Premier) said:

    I suspect this is an issue with how Alerus is sending the data through to Quicken.  If it were not then everyone downloading transactions would be experiencing this problem.  The only way to verify this is to look at the OFX log file and see what Alerus is sending.  And if this is the case it is something to address with Alerus.

    Interesting.  What version are you on and win or mac?
  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited December 2017
    K.O. (Win-Premier) said:

    I suspect this is an issue with how Alerus is sending the data through to Quicken.  If it were not then everyone downloading transactions would be experiencing this problem.  The only way to verify this is to look at the OFX log file and see what Alerus is sending.  And if this is the case it is something to address with Alerus.

    @Ron:  You might want to post the exact information you found in the OFX log for some different eyes to look at.
  • Unknown
    Unknown Member
    edited December 2017
    K.O. (Win-Premier) said:

    I suspect this is an issue with how Alerus is sending the data through to Quicken.  If it were not then everyone downloading transactions would be experiencing this problem.  The only way to verify this is to look at the OFX log file and see what Alerus is sending.  And if this is the case it is something to address with Alerus.

    I am using windows version 2018.

    This is what I believe is a complete transaction for the OFX file:

    </INVTRAN>
    <SECID>
    <UNIQUEID>360802847</UNIQUEID>
    <UNIQUEIDTYPE>CUSIP</UNIQUEIDTYPE>
    </SECID>
    <UNITS>-0.0068</UNITS>
    <UNITPRICE>65.0400</UNITPRICE>
    <TOTAL>-0.44</TOTAL>
    <SUBACCTSEC>CASH</SUBACCTSEC>
    <SUBACCTFUND>CASH</SUBACCTFUND>
    </INVSELL>
    <SELLTYPE>SELL</SELLTYPE>
    </SELLMF>
    <SELLMF>
    <INVSELL>
    <INVTRAN>
    <FITID>20171212BX7026200000000000251322</FITID>
    <DTTRADE>20171212190000.000[-6:CST]</DTTRADE>
    <DTSETTLE>20171212190000.000[-6:CST]</DTSETTLE>
    <MEMO>Fees</MEMO>
  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited December 2017
    K.O. (Win-Premier) said:

    I suspect this is an issue with how Alerus is sending the data through to Quicken.  If it were not then everyone downloading transactions would be experiencing this problem.  The only way to verify this is to look at the OFX log file and see what Alerus is sending.  And if this is the case it is something to address with Alerus.

    You have the XML backwards. A transaction begins with <INVTRAN> and ends with </INVTRAN>.
    QWin Premier subscription
  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited December 2017
    K.O. (Win-Premier) said:

    I suspect this is an issue with how Alerus is sending the data through to Quicken.  If it were not then everyone downloading transactions would be experiencing this problem.  The only way to verify this is to look at the OFX log file and see what Alerus is sending.  And if this is the case it is something to address with Alerus.

    Or stated a little differently, your ending of 

    <SELLMF>
    <INVSELL>
    <INVTRAN>
    <FITID>20171212BX7026200000000000251322</FITID>
    <DTTRADE>20171212190000.000[-6:CST]</DTTRADE>
    <DTSETTLE>20171212190000.000[-6:CST]</DTSETTLE>
    <MEMO>Fees</MEMO>

    is the beginning of the next Sell Mutual Fund Transaction

    Your starting point of 

    </INVTRAN>
    <SECID>
    <UNIQUEID>360802847</UNIQUEID>
    <UNIQUEIDTYPE>CUSIP</UNIQUEIDTYPE>
    </SECID>
    <UNITS>-0.0068</UNITS>
    <UNITPRICE>65.0400</UNITPRICE>
    <TOTAL>-0.44</TOTAL>
    <SUBACCTSEC>CASH</SUBACCTSEC>
    <SUBACCTFUND>CASH</SUBACCTFUND>
    </INVSELL>
    <SELLTYPE>SELL</SELLTYPE>
    </SELLMF>

    is the end of the prior Sell Mutual Fund Transaction.  

    One of my old such transactions reads (bolding added):

    <SELLMF>
    <INVSELL>
    <INVTRAN>
    <FITID>PA201602160003336
    <DTTRADE>20160212060000.000[-6:CST]
    <DTSETTLE>20160216060000.000[-6:CST]
    <MEMO>SOLD 313.416 SHS 02/12/16 @ 35.14 COLUMBIA ACORN INTERNATIONAL FUND-Z
    </INVTRAN>
    <SECID>
    <UNIQUEID>197199813
    <UNIQUEIDTYPE>CUSIP
    </SECID>
    <UNITS>-313.416
    <UNITPRICE>35.14
    <COMMISSION>0
    <FEES>0
    <TOTAL>11013.44
    <SUBACCTSEC>OTHER
    <SUBACCTFUND>OTHER
    </INVSELL>
    <SELLTYPE>SELL
    </SELLMF>

    The relevant difference I first note is that your <UNITS> and <TOTAL> are both negative.  My <UNITS> is negative, but the <TOTAL> is positive.  

    If I recall correctly, at one time Quicken considered that the total had to be "positive" for a sale and the program may have ignored the sign on total.  This may have changed such that they are now allowing the negative and treating it that way from the FI, up until you edit the transaction and then force it to adjust back to what is effectively a positive sale total.
  • K.O. (Win-Premier)
    K.O. (Win-Premier) Quicken Windows Subscription Member ✭✭✭✭
    edited December 2017
    K.O. (Win-Premier) said:

    I suspect this is an issue with how Alerus is sending the data through to Quicken.  If it were not then everyone downloading transactions would be experiencing this problem.  The only way to verify this is to look at the OFX log file and see what Alerus is sending.  And if this is the case it is something to address with Alerus.

    So following up on Ron's reply and Jim's / q.l's OFX discussion.

    Ron - I suspect in your original statement that when you say "entered as a purchase instead of a sale" you are not implying the transaction in Quicken is Buy instead of Sell but are purely meaning to say in Quicken it is a Sell but the cash balance decreases instead of increasing.

    Assuming this is correct I concur with Q.L.  Looking at my OFXlog files a sell transaction has a positive <TOTAL> amount.  (This assumes that the commission amount is not greater than the Qty * Price because if it is then the <TOTAL> would  then be negative and accurately reduce the cash balance). 

    That said I believe your FI (Alerus) is sending the wrong information to Quicken (negative amount in <TOTAL> instead of positive).  The reason that when you edit the transaction it is corrected is that when Quicken downloads and you accept transactions Quicken does not do any edit checks (that I know of).  When you edit the transaction Quicken puts the transaction in balance (i.e. by recalculating the total).
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