reconcile using share balance instead of cash value in mac version (4 Legacy Votes)

kashyapa
kashyapa Member
edited December 2019 in Investments (Mac)
I was using Quicken 2017 windows. Now moved to mac version. I used to reconcile using share balance and not cash value. How do I reconcile using share. balance and not cash value. Do not tell it is the only way.
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  • Unknown
    Unknown Member
    edited December 2019

    Reconcile Securities Along with Cash in Investment Accounts


    It would be very helpful to be able to reconcile the securities within an investment account. Sometimes, I can end up with different security values because of an error on a transaction. But because it does not involve cash, I don't catch it. This would allow these to be caught relatively quickly.

  • John Burgess
    John Burgess Member ✭✭
    edited January 2018
    I’ve also wanted this for a long time. anyone else think this is a good idea? Vote for it!
  • Lyn Buddenhagen
    Lyn Buddenhagen Member ✭✭
    edited September 2018
    IMHO, Quicken is supposed to be a DIY application. The more we ask for, the more the app will cost.
    I reconcile to my paper statements every so often, and go hunting for what I did wrong - or what did not get translated correctly in a download. To reconcile a security I look at transactions, filtered by the security (the magnifying glass/search area), and going to the Columns icon at the bottom, I choose Shares and Share Balance (usually getting rid of Amount and Cash Balance, since you can change back at any time). I do hope this helps you, Matt.
  • Unknown
    Unknown Member
    edited September 2018
    I would completely disagree with this being a DIY app. If that was the case, it would have user programmable capability. This app is meant to be easy to use with a lot of functionality built in.

    Honestly, I don't understand how anyone could consider a proper reconciliation of an account that doesn't look at all possible elements of value in that account. This would mean that it includes securities for an investment account. You typically have very little, if any, cash in these accounts. Yet that is all you are looking at when reconciling. By not reviewing securities transactions and balances, you are turning the reconciliation process into a completely manual approach, which defeats the entire purpose of using finance software.
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited August 2018
    I miss some transactions too, even after over 25 yrs of using Quicken, I have gotten good at eventually catching them...but I agree, this would be a very useful and appropriate feature.
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    (Canadian
    user since '92, STILL using QM2007)
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Hello kashyapa,

    Thank you for taking the time to come to the Community to post your question.

    Unfortunately, the ability to reconcile using the share balance is unavailable at this time.

    I have gone ahead and changed this thread to an Idea so that others may vote on this feature.

    Thank you,
    -Quicken Tyka
    ~~~***~~~
  • cjl06
    cjl06 Member
    Thanks for putting this to a vote. I have recently converted from windows to mac version and was really thrown by the "0" balance when reconciling. I have added my vote.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    I agree that being able to reconcile share balances could be useful.

    I'm not sure what this would look like, though. Would there be a second column for reconciling shares? Would we reconcile an account twice, once for dollars and once for shares? Would it be a choice of cash or shares to reconcile?
    Quicken Mac Subscription • Quicken user since 1993
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    Yes still desired.
    Have Questions? Help Guide for Quicken for Mac
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    (Canadian
    user since '92, STILL using QM2007)
  • rhd99
    rhd99 Member ✭✭
    Reconcile shares in Mac is definitely still wanted. It allows a quick check that the share balances by security in Quicken agree with the financial institution’s records for one’s account.
  • mekuehn
    mekuehn Member
    I used it on my PC while I waited for you to update the programs for the Mac. I purchased a Mac this year because of your improvements and moved my files over. I would really like that option with the Mac so the all versions are the same. I've been using your product for over 20 years and recommend it to friends and family.
  • Just moved from quicken for windows to Mac. Disappointed that this feature, which is available in windows version, is not available in the Mac version. Please add ability to reconcile shares in investment accounts in addition to reconciling by cash balance.
  • JBS2021
    JBS2021 Member
    Reconciling shares in investment accounts should be a mandatory function of Quicken for Mac. When dividends are automatically reinvested, the cash balance doesn't change but the number of security shares does change. An error in the reinvestment transaction or a missing reinvestment transaction would only affect the share balance and not the cash balance so it would never be detected unless the shares are reconciled. Please provide this functionality.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @JBS2021 First, I agree fully that this should be added to Quicken Mac.

    But until it is, I'll tell you how I reconcile my investment shares. At the end of each quarter (you could do it monthly if you wish), I review my brokerage statements versus Quicken. (I prefer to keep printed hard copies of my brokerage statements, but you can do this with a downloaded PDF if you're all-digital in that regard.)
    • Click on the account in the left sidebar
    • Click on Portfolio view
    • Set the filter to show "Portfolio Value" and "Group by Security"
    • Set the "Price and Holdings as of" date to the quarter-end date matching the brokerage statement
    Now it is easy to go through the brokerage statement and compare it to the Shares column in Quicken for each security held, in each account. There's nothing to check off to mark my work as reconciled in Quicken, but since I know I do this every quarter and I have, in fact, reconciled my share balances in Quicken. This gives me complete confidence that my investment data is recorded correctly in Quicken.
    Quicken Mac Subscription • Quicken user since 1993
  • Dan Twohig
    Dan Twohig Member ✭✭
    I have been using Quicken PC for many years and looking to move to the MAC version which appears to have some excellent improvements. However, I can’t understand why anyone would consider reconciling the cash in an investment account without first reconciling the shares. Over the years being able to reconcile shares has caught problems that would have cascaded into massive if only cash was being reconciled. In my opinion, the absence of an ability to reconcile shares prohibits the product from being viable for investment accounting. Why would anyone pay so they can manually do an investment accounting requirement? I wonder if the Quicken manager for the MAC development uses the product for tracking investment accounts.