Quicken CANADA Windows 2018 Transfer Security from USD Investment account to CDN

willi1
willi1 Member ✭✭✭
edited December 2018 in Investing (Windows)
I have purchased shares of DLR.U in USD investment account and have asked the bank to journal the shares over to my CDN Investment account, which they did. I can't figure out how to record this in Quicken because of difference in currencies. 

Comments

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited December 2018
    What currency was actually used to purchase that ETF?

    And, why can you not do a simple "Shares transferred between accounts", OR a "Shares Removed" followed by a "Shares Added"?
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • willi1
    willi1 Member ✭✭✭
    edited December 2018
    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



  • Arctic Hare (H&B 2019 Canadian)
    Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    @Willi: So, you are performing Norbert's Gambit and you want to record the transaction in Quicken. I've done this successfully many time. Before we discuss how to record the journaled transaction in Quicken, there a few things I need to understand:
    • Which brokerage house are you using?
    • Does your brokerage allow you to hold USD denominated and traded securities and CAD denominated and traded securities in the same account (I'm assuming so, but please confirm)
    • How have you configured your account or accounts in Quicken to reflect your brokerage account(s)?
  • willi1
    willi1 Member ✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    Thanks! 

    I'm using TD
    I don't know but in any event it has been processed through the two separate accounts by the bank
    I'm not sure what you mean in your last question. They are both set up as 'brokerage' accounts in the respective currencies, to reflect 'reality'   ;o) 
  • Arctic Hare (H&B 2019 Canadian)
    Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    @willi: I'm using RBC Direct Investing and RBC DI facilitates Norbert's Gambit a bit differently than TD. With RBC DI, you don't have to request the journaling, you just make a buy on the CAD side and a sell on the USD side and RBC DI's system automatically matches the two up as part of the settlement. It is really slick. Nonetheless...

    I wanted to confirm that you have set up separate accounts in Q for the USD and CAD parts of your portfolio. You have, so that's great.

    If I am converting CAD to USD, the way I reflect the transaction is to enter a buy transaction and a sell transaction, both of DLR (not the .U variant) in the CAD account in Quicken. I use the transfer function (within the Sell dialogue box) to directly transfer the proceeds of the sell transaction to the USD brokerage account in Quicken. I use the same total transaction amount and same (CAD) price for the buy and sell transactions. I set the F/X rate so that the amount of USD that ends up in the USD Quicken account ends up matching the proceed from the (real world) sale of DLR.U (which is not actually reflected directly in Q - that is, my Quicken program never see ownership of DLR.U). Then, if the F/X rate you estimated doesn't work out perfectly, you go into the receiving USD account in quicken and edit the transaction from there and change the dollars received to match the actual dollars received from the sale proceeds; it will adjust the exchange rate accordingly. What I particularly like about this method is that it actually reflects that effective F/X rate you achieved with using Norbert's Gambit... and F/X rate is the reason for using the Gambit in the first place.

    While the method described is not a perfect reflection of the real world transactions, it maintains accounting integrity (as far as I have been able to ascertain). Other than being a bit "messy" (in that it doesn't perfectly reflect real world activity) , I haven't had problem arise from this approach.

    Let me know if you need screen shots to understand the explanation.

    If anyone has a better way of representing the Norbert's Gambit transactions in Quicken, I'm all ears !
  • willi1
    willi1 Member ✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    Hi

    Thank you for your input. I can see how this would achieve what you want when both transactions are handled in the same account, but I need to be able to enter in two different CURR accounts, and I run across the above issues.  I think I'll call Quicken support and report back. 
  • Arctic Hare (H&B 2019 Canadian)
    Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    Willi: I will be shocked (and stunned) if Quicken tech support can help you with this issue. It would be helpful if you could provide a more precise explanation of what you mean by 

    but I need to be able to enter in two different CURR accounts
    Are you referring to two accounts at TD or two accounts in Quicken. Either way, this method works fine... unless I am missing something in your explanation.

    Can you also confirm that you are performing Norbert's Gambit in the real world and trying to model that in Quicken? If so, it is not evident to me why the method I provided wouldn't work for you. You are selling the DLR.U on the same day you buy DLR, correct? Or are you actually holding this fund? If you are holding the fund then it isn't Norbert's Gambit and my advice was off point.

    If you are performing the Gambit, here is another forum thread that discusses the same approach I proposed:
    https://www.canadianmoneyforum.com/showthread.php/4828-TDW-RRSP-Currency-conversion-vs-quot-the-Gambit-quot/page7?s=4deeaaee8345922d58a3e8a7f4ed4b4f
  • willi1
    willi1 Member ✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    Hello Arctic...

    Thank you for trying to help me. I'll follow up on this later...I'm a bit upset just now. A few minutes after I was on the community this morning, I received an email from 'Quicken April' giving me a number I should call for support.  Turns out it was a scam, and I wasn't quick (smart) enough to catch on until I had already given them credit card info. Once I clicked in, which was while I was still on the phone with them, I called TD and cancelled my card.  A bit worried about what else could be implicated. It was just so slick.....  Thanks, again....

    If you or anybody reads this and knows how I can contact the appropriate people to properly report this, I would be very grateful 
  • Arctic Hare (H&B 2019 Canadian)
    Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    @willi: I've sent a message to the forum moderators indicating that you fell victim to the scam and would like to make contact with an official Q rep. Hopefully, someone from Q contacts you. Monitor the email address you gave when you signed up for this forum. They might contact you at that email address.

    Unfortunately, the scammers monitor this website. They are, obviously, following this post, and when they saw you post a message indicating that you were planning to contact Q support... they dealt the Joker. I imagine they enjoying reading this message right now, a bit richer than they were yesterday.
  • Quicken Sarah
    Quicken Sarah Administrator, Moderator mod
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    Hello Willi,

    My name is Sarah and I am a Moderator for the Quicken Community and an Official Representative of Quicken Support.  I apologize that you received a spam email and appreciate your taking the time to report this to the Community.  We have reported the information to our Legal Department for appropriate handling.

    I also took the liberty of reviewing your account and see that you were able to speak with Tyka from the Quicken Support team yesterday, was she able to help resolve the transfer issue?  

    Please let us know, thank you.

    Sarah
  • willi1
    willi1 Member ✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    I’m sure you can appreciate, I’m hesitant to respond to this, but as the content is somewhat unrelated and minor, the answer is, No, that was a separate issue.
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    I am sure that last experience is very unsettling but as long as you are not giving out personal info and you always go to the source when contacting Quicken (or any other service or institution for that matter), you should have nothing to worry about.

    Tip: never contact any unsolicited number, e-mail, web link, etc. just because someone gives you one, whether by phone, e-mail, and especially on the internet ...always confirm via your own research that it is legitimate. That is what I ALWAYS do. It's just good "street smarts" in today's world.

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
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    (Canadian user since '92, STILL using QM2007)
  • willi1
    willi1 Member ✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    @Artic Hare

    Wanted to be come back and specifically thank you for helping me with this. I did finally 'get' it...

    ;o)
  • Arctic Hare (H&B 2019 Canadian)
    Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭✭
    edited December 2018

    I purchased the ETF DLR.U in US Brokerage in USD

    Shares Transferred Between Accounts tells me to choose an account that has the same currency as the security, so I can't do that as one account is USD and one is CDN

    Shares Added  Canadian Currency Brokerage Account

    If I try to just enter Horizons US DOLL etc, it doesn't come up in the list presumably because it is a US denominated security

    If I enter a new security, ' Horizons' , then go to ETF tab, then continue entering US DOLL it comes up with two entries

    TSE.DLR     Horizons US Dollar Currency ETF    TSX
    TSE.DLR.U  Horizons US Dollar Currency ETF    TSX

    If I choose TSE.DLR.U assuming the currency of the asset I transferred is still USD until it's sold and then converted I get 



    If I choose TSE.DLR (which would be the Canadian dollar equivalent) then when I type 'Horizons US DOLL, it doesn't come up on the list, presumably because it's not a CDN Dollar ETF. 

    Does this help at all?  I've tried to be clear, but it's confusing

    Thanks!!



    @willi: thanks for closing the loop; glad you got it sorted out.
This discussion has been closed.