Transfer security between security houses - nightmare to enter

smajmund

Platform - Quicken 2017 Rental property manager, R 19.1, Windows 10

I transferred a few securities from Fidelity to Etrade. 

In Quicken,  the Fidelity account are marked as "removed".In Etrade as "bought" and there are some "placeholder" entries with incorrect dates (dates do not sync with the transfer dates). The placeholder would only allow to change the cash value of the security, not to update the transaction.

After spending nearly 2 hours with the support, I turned to the community.

Here is what I have tried thus far

1. Delete placeholders, the remove entries from Fidelity and Bought entries in Etrade and enter new trades

2. Update the transfer information

3. Validate the file (file operations)

I get this error when trying to make this entry:

    "There are not enough shares for this security in the account you are trying to transfer from. Either choose a different account or update the holdings in the 'transfer from' account"

Any clue?

Many thanks in advance!

Rocket J Squirrel

This is easy. Quicken handles this simple transfer of shares. Delete the ETrade "Bought" transaction; it is incorrect. Delete the Fidelity "Removed" transaction as well.

What you have done in Quicken terms is "Remove" shares from one account and "Add" them to another. Brokerages often don't get this right, but Quicken will, if you enter the data accurately.

1. Delete any Placeholder transactions which resulted from the brokerages getting this wrong. (If you have other, unrelated, placeholders, that's another task. Leave them for now and come back to them later.)
   
2. In the Fidelity account, click on Enter Transactions.
3. In the resulting dialog, choose Shares Transferred Between Accounts.
4. Fill in the fields of the dialog, specifying the first security, number of shares (and lots, if necessary), the ETrade destination account, etc.
5. Once the dialog is correct and complete, click Enter/New.
6. Quicken will create Removed Shares and Add Shares transactions in the appropriate accounts, preserving cost basis.
7. Repeat for remaining securities. Use Enter/Done for the last one.
   

(Unless in reality you actually sold shares in Fidelity, transferred cash, and bought shares in ETrade. Then my whole answer is wrong.)

smajmund

Thank you for precisely listing the process, but this is exactly how I have done. The problem is in step (5) when you either hit Enter/New or Enter/Done, I get this error message  -

    "There are not enough shares for this security in the account you are trying to transfer from. Either choose a different account or update the holdings in the 'transfer from' account"

smajmund

Let me take it back. Restarting Quicken and following these steps all over again got the result!

Thank you for your help in solving the puzzle