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Coinbase transactions use 8+ significant decimal digits

Walter Kraslawsky

I track my Coinbase account in Quicken. Coinbase processes all of my fills with 8+ significant decimal digits, but Quicken is limited to 6 decimal digits for shares (coins), and two decimal digits for the price, commission, and total. Is there a preference in Quicken to increase share and USD significant digits for more accurate tracking?

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Accepted answers

Jim_Harman

Per Quicken Help,

For each number you enter in the Price or Shares column, Quicken records up to 11 digits total, up to six digits after the decimal place.

There is currently no option to change this.

If you are not downloading transactions, perhaps you could track fractions of a share, so if you hold 1.23456789 shares at $987.654321 per share you would tell Quicken you have 1234.56789 shares at $0.987654. Generally it is more important to have an accurate count of the number of shares you hold than the exact price per share.

All comments

Jim_Harman

Per Quicken Help,

For each number you enter in the Price or Shares column, Quicken records up to 11 digits total, up to six digits after the decimal place.

Walter Kraslawsky

Thanks for the reply. The suggestion to shift the decimal right on shares and left on price is interesting, but not worth the effort. Even then I still have to tweak shares, price, or commission to get a correct total cash balance.

I was just hoping Quicken had improved investment transactions by adding a preference or other user option (which I could not find) to increase the number of digits accuracy.

I suppose they'll fix this someday if enough users complain.

UKR

It would be much easier if there was a method to set up a Foreign Currency for Coinbase, Bitcoin, etc. instead of having to treat it as a security you own.

Only problem is: Quicken has a hardcoded design for currencies that expects currencies to be like Dollars and Cents, with 2 decimal places.

There are currencies that do not use fractional amounts, like the Yen or some South American currencies with heavy inflationary trends.

Instead of limiting transaction entries to 8 digits and 2 decimal places (99,999,999.99), Quicken should allow > 10 digits and, for each currency, currency - specific selectable numbers of decimal places, from 0 to 8.
For example:
Default:    10.2   meaning 10 digits total, 2 decimal places
Coinbase: 16.8    16 digits total, 8 decimal places
Yen:         16.0   16 digits total, 0 decimal places