Quicken Shares

Unknown
Unknown Member
I have been using Quicken for 25 years, most recently Quicken 2007 for Mac. I recently updated to Quicken for Mac 2019 and migrated my old Quicken data to the new platform. After a few tries, the data in the new Quicken account was all congruent except that I have 2 funds in one of my retirement accounts that are consistently incorrect. I just spent 45 minutes on the Quicken support line and was unable to straighten this out.

The issue is the shares I bought are being adjusted by Quicken using "Quicken Shares" which divides the total shares by 100, thus reducing current value and all reinvested dividend over the years by a factor of 100.

For example, If I purchased 500 shares of fund A for $10/share= $5000. Quicken divided my shares by 100 creating Quicken shares totaling 5 shares worth $0.10/share, making my $5000 investment 50 cents. This flows through to all reinvested dividends monthly for the past 9 years and shows a hundred-fold reduction in the value on my fund on portfolio reports.

By the way, I have a number of other funds that were not adjusted in this way.

With the help of the Quicken Support guy, we saved my files then tried a number of strategies to fix this that all failed. We multiple share prices and costs by 100 to adjust what Quicken Shared did. Worked for the original purchase but not for any dividends going forward and no change to Portfolio value. 

In the end I may just go back to my Quicken 2007 but it will prevent me from upgrading to new Mac OS because of 4bit processing. I'm stuck and very disappointed that I cannot rely on accurate data since my upgrade.

Is there any way from getting Quicken to drop the conversion to Quicken Shares and just report what transactions I actually did?

Comments

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited January 2019
    What funds/shares are you talking about?  Could they have had 10 for 1 splits that you hadn't previously recorded?

    A significant number of Fidelity funds did such a split in December.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited January 2019
    Are you sure that this particular mutual fund is recorded correctly in Quicken as Security Type = Mutual Fund?
    The only place in Quicken where a factor of 100 comes into play (that I know of) is when you're trading Bonds.
  • Unknown
    Unknown Member
    edited January 2019
    UKR said:

    Are you sure that this particular mutual fund is recorded correctly in Quicken as Security Type = Mutual Fund?
    The only place in Quicken where a factor of 100 comes into play (that I know of) is when you're trading Bonds.

    Thanks for your comment. I did go back and discovered that the data transfer was recorded as "Buy Bonds" instead of "Buy". I corrected that, but note that all monthly reinvested dividend for both funds going forward are still recorded under the old format.  Any way to correct those en masses or do I need to do this individually?
  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited January 2019
    UKR said:

    Are you sure that this particular mutual fund is recorded correctly in Quicken as Security Type = Mutual Fund?
    The only place in Quicken where a factor of 100 comes into play (that I know of) is when you're trading Bonds.

    Once again, is the mutual fund recorded properly in your Security List as Type + Mutual Fund? If not, you need to fix that first.

    Are these Reinvest Dividend transactions recorded with the wrong number of shares?
    If yes, I'm afraid you will have to fix that.
  • Unknown
    Unknown Member
    edited January 2019
    The manual recording of investment transactions in Mac 2017 is horrible. In the 2006 version it was so easy. I talked with customer support about this a year ago. They said the Windows version is like the old version of Quicken for Mac. I don't understand why they don't fix this.

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