reinvested dividends are not tracked correctly.

Unknown
Unknown Member
edited November 2018 in Investing (Mac)
Reinvested dividends are not tracked correctly. Dividends are put into cash. when they are reinvested it is never deducted from the cash account. the cash is always overstated. Please fix it.

Comments

  • RickO
    RickO SuperUser, Mac Beta Beta
    edited November 2018
    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Unknown
    Unknown Member
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    I've the same problem with dividend transactions downloaded from Schwab.  Using MacOS Mojave 10.14.1.  QMac 2017 4.8.2.
  • Pat Duggan
    Pat Duggan Member
    edited November 2018
    It would be helpful if we had settings options to exclude investment transactions from All Transactions, and alternatively have them listed both under each Investment (as appropriate) and/or under a new All Investments window.
  • Unknown
    Unknown Member
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    Op says is macOS Mojave and Quicken deluxe v 5.8.2
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited November 2018

    It would be helpful if we had settings options to exclude investment transactions from All Transactions, and alternatively have them listed both under each Investment (as appropriate) and/or under a new All Investments window.

    You can do that already (essentially). In the All Transactions register, click the All Accounts filter and choose "All Banking Accounts". This will exclude all investment accounts from view. I say "essentially" because this will also exclude Property & Debt accounts, but I don't think that's much of an issue. If you want, you can view Property & Debt separately too.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    This is really a matter of what transaction types the brokerage transmits when you download transactions. There are two ways the brokerage can handle this (properly).

    The first is to transmit two transactions, a Dividend Income and a BUY, in pairs for each dividend received. (This is how Fidelity, for example, does it.) You would see two transactions in the register for each dividend with a corresponding increase in share balance and no net change in cash.

    The second is for the brokerage to transmit a single Reinvest Dividend transaction, which will show in the register as a single transaction with no affect on cash balance but increasing the share balance of the security. You would see a single Reinvest Dividend transaction in the register.

    However, if the brokerage is transmitting only a Dividend Income transaction, then you are going to see an increase in cash value and and no change in share balance. You would have to enter the BUY transaction manually to make it correct.

    If the latter is what Schwab is transmitting, then you would need to discuss this with them and find out why they're doing it this way.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Pat Duggan
    Pat Duggan Member
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    Still, if we had the option to permanently move selected transactions permanently to an Investment Transactions list (either by dragging or tagging them), and the investment itself was either updated during download (or if it was entered as an asset manually updated by the user), it would be less confusing (then being buried within the All Transactions list).
  • Unknown
    Unknown Member
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    Thanks Rick.  Schwab transmits both types of transactions: 
    - A single Reinvest Dividend, creating no problem Posting happens properly.
    - A Dividend Income, increasing cash.  This is typically followed by a Reinvest Dividend transaction the next day, acquiring shares at $0 value.  Like you said, we have to edit this last transaction by changing "Reinvest" to "Buy" to deduct the proper cash, and get the proper cash balance in the account.  
    I'll call Schwab to find out how they can help solve the problem.
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    Yup, with Direct Connect brokerage accounts, Quicken is just posting what the brokerage transmits. So if they're transmitting wrong, missing or duplicate transactions, that's on the brokerage to fix.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    Pat, you've kind of lost me here. You can click on an individual account in the sidebar to see just those transactions. You can click on the Investing group register in the sidebar to see only investing transactions. You can click on Brokerage or Retirement in the sidebar to see just those groups. And in all of those registers, you can enter a security name in the search box (top right) to see only the transactions for that security. Am I missing something?
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Pat Duggan
    Pat Duggan Member
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    OK, that solves most of my issues. I didn't realize I could do that.
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited November 2018
    RickO said:

    Let's start with what version of Quicken are you using on what computer type and OS? What brokerage are these associated with, and are you downloading transactions?

    Glad to help.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
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