Unfixable very small rounding error in mutual fund conversion

BrianR

Quicken 2017 Premier vR17.4 build 26.1.17.4 on Windows 10 [all current updates applied].

Fidelity did a mutual fund share class conversion. I executed Quicken transaction type "Mutual Fund Conversion". The old fund/share class had 375.816 shares, the new fund had 375.819 shares.  Quicken did the conversion, injecting all the transactions for the new share class, but ended up showing 375.818999 shares.  I tried doing "Adjust Share Balance" to 375.819, but Quicken refused to change the total (and see to be in a moderately confused state afterwards - the transaction continued to be highlighted even after "Enter").  I also tried just adding .000001 shares, but Quicken rounded that to 0.

It's not horrible, but I'm sure whenever I sell out of that fund, I'll have some lingering unfixable not quite zero holding.  Also, it's annoying when I reconcile holdings between Fidelity and Quicken I'll need to think about that entry, since they'll have different numbers. <end whine>

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Michael Farley

Rich_M

In the past year I had several mutual funds go through this type of conversion in my IRA account and had the same issue with some of the securities.  In my case I had an even more miniscule discrepancy and many lots from years of reinvesting.  I chose the oldest lot with the largest number of shares and just edited the fractional share portion an amount that would bring my security holdings precisely equal to my brokerage statement.

q_lurker

Similar to Rich M, my approach to this would be to


A). Let the MF conversion first do its thing,


. I would review every generated Add Shares transaction editing the number of shares to my desired precision (3 decimal places). Note I would do this step for any MF conversion.,


C). I would choose which lots I might want to round up to get the added 0.003 shares, and edit those accordingly.



Basically, I don't want Quicken ever trying to track shares to the 6th decimal position.

Michael Farley

Rich M said:

In the past year I had several mutual funds go through this type of conversion in my IRA account and had the same issue with some of the securities.  In my case I had an even more miniscule discrepancy and many lots from years of reinvesting.  I chose the oldest lot with the largest number of shares and just edited the fractional share portion an amount that would bring my security holdings precisely equal to my brokerage statement.

Rich M, This was the best solution for me!  I had one older large transaction and I added .000001 to the share amount and the share balance went to xxx.924.  And it was such a small change that Quicken did not want to change the price.  q.lurker's solution would have worked also, but it would involve many more transaction edits.

BrianR

Rich M said:

In the past year I had several mutual funds go through this type of conversion in my IRA account and had the same issue with some of the securities.  In my case I had an even more miniscule discrepancy and many lots from years of reinvesting.  I chose the oldest lot with the largest number of shares and just edited the fractional share portion an amount that would bring my security holdings precisely equal to my brokerage statement.

Rich, I ended up using this solution, thanks!

BrianR

Thanks for all the excellent responses! I also agree with q.lurker that tracking shares to the 6th decimal position doesn't seem to make sense.  Or, at least, having that level of precision showing up in the register doesn't make sense.

mbterry9

Simple solution:  In the course of doing a MUTUAL FUND CONVERSION, Quicken should change it's system to show the new holdings rounded to 3 decimal places.  That simple enhancement of the sytstem would relieve we customers of the problem.  So why don't they do it?

NotACPA

Because some funds track positions to 4, or even 6, decimal places.