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Automatically Split/Break-up Reinvesting dividend entry

Unknown
Unknown Member
edited December 2018 in Investing (Windows)
When entering a reinvest transaction (dividend, interest, capital gain), the cash balance is not impacted. It would be nice if such an entry resulted in a stock purchase transaction with a cash withdrawal and a corresponding cash deposit for the same amount. That way, the Quicken register would correspond with the statements from the brokerage account.
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Comments

  • RickO
    RickO SuperUser, Mac Beta Beta
    edited March 2018
    The whole purpose of a Reinvest Div/Int transaction is to combine a Div transaction and a Buy transaction into a single line to reduce data entry. The cash balance is correctly not impacted because a Reinvest transaction is, by definition, cash neutral. 

    If you want separate transactions for these, simply enter separate Div/Int and corresponding Buy transactions.

    If your brokerage is sending them as Reinvest transactions, there's not much Quicken can do about it. It's up to the brokerage how they want to send them. My brokerage (Fidelity) sends everything as separate transactions and I wish they did it the other way to save space. But it is what it is.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Concordman
    Concordman Mac Beta Beta
    edited March 2018
    Vanguard sends the transactions as reinvest transactions , My Fi (WFA) sends everything as separate transactions. Agree it eats space but I like seeing the separate buy & dividend transactions.
  • Unknown
    Unknown Member
    edited March 2018
    RickO said:

    The whole purpose of a Reinvest Div/Int transaction is to combine a Div transaction and a Buy transaction into a single line to reduce data entry. The cash balance is correctly not impacted because a Reinvest transaction is, by definition, cash neutral. 

    If you want separate transactions for these, simply enter separate Div/Int and corresponding Buy transactions.

    If your brokerage is sending them as Reinvest transactions, there's not much Quicken can do about it. It's up to the brokerage how they want to send them. My brokerage (Fidelity) sends everything as separate transactions and I wish they did it the other way to save space. But it is what it is.

    Sure, I can enter separate transactions. I just thought it would be nice if Quicken did it for me because I get statements from Fidelity too. But if other brokerage statements do it differently and list them in one transaction, perhaps Quicken should stay as it is.
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited March 2018
    RickO said:

    The whole purpose of a Reinvest Div/Int transaction is to combine a Div transaction and a Buy transaction into a single line to reduce data entry. The cash balance is correctly not impacted because a Reinvest transaction is, by definition, cash neutral. 

    If you want separate transactions for these, simply enter separate Div/Int and corresponding Buy transactions.

    If your brokerage is sending them as Reinvest transactions, there's not much Quicken can do about it. It's up to the brokerage how they want to send them. My brokerage (Fidelity) sends everything as separate transactions and I wish they did it the other way to save space. But it is what it is.

    My point is, Quicken is not doing it. It's up to the brokerage how they send it.

    Are you downloading transactions from Fidelity? Are you saying the reinvested dividends are coming in on those downloaded transactions as single transactions rather than pairs? That would be different than how Fidelity works for me.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Unknown
    Unknown Member
    edited March 2018
    RickO said:

    The whole purpose of a Reinvest Div/Int transaction is to combine a Div transaction and a Buy transaction into a single line to reduce data entry. The cash balance is correctly not impacted because a Reinvest transaction is, by definition, cash neutral. 

    If you want separate transactions for these, simply enter separate Div/Int and corresponding Buy transactions.

    If your brokerage is sending them as Reinvest transactions, there's not much Quicken can do about it. It's up to the brokerage how they want to send them. My brokerage (Fidelity) sends everything as separate transactions and I wish they did it the other way to save space. But it is what it is.

    I enter the transactions manually when they occur. I may download them later from Fidelity as a check and to reconcile the account. It's not a big deal. I like to enter the reinvest entry rather than two entries because it's convenient, but then, say, on tax forms at the end of the year, my data will not be the same as the 1099. Guess I will need to make two entries.
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited March 2018
    RickO said:

    The whole purpose of a Reinvest Div/Int transaction is to combine a Div transaction and a Buy transaction into a single line to reduce data entry. The cash balance is correctly not impacted because a Reinvest transaction is, by definition, cash neutral. 

    If you want separate transactions for these, simply enter separate Div/Int and corresponding Buy transactions.

    If your brokerage is sending them as Reinvest transactions, there's not much Quicken can do about it. It's up to the brokerage how they want to send them. My brokerage (Fidelity) sends everything as separate transactions and I wish they did it the other way to save space. But it is what it is.

    Personally, I just download the transactions when they occur. Saves me a lot of data entry. But to each his own. I do manually enter banking transactions and then download to match. But I don't see the advantage for my Fidelity account.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
This discussion has been closed.