Automatically Split/Break-up Reinvesting dividend entry

Unknown

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.

Concordman

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

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.

Unknown

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.