What would the community recommend for adding investment accounts?

I added my accounts via Direct Connect, but they found a large number of placeholders. I saw a posting that said delete and add them manually, but it begs the question: would it make sense to manually add the accounts and investments manually, and then turn on direct connect? Maybe this will not work, but this is a challenging process to get it all to balance correctly since it only pulls 90-days, which is not an end of period.
Thanks in advance!


  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Yes, I think manually creating the accounts first is a valid approach.  But also as you note, coordinating that with the 90-days of transactions downloads can be 'tricky' or a challenge.  

    You might consider setting up all your holdings based on 12/31/2019 position.  When you make the connection of the real-world account to the Quicken account, you would get the prior 90 days, but you would then delete all transactions prior to 12/31/2019 -- your start date.  That should put you in the right position, but double check.  

    You'll also need to decide if you want all lots of all holdings, or are willing to start with a composite of lots for securities held before 12/31/19 (or some other date of your choosing).  If it is not too much trouble, I'd suggest trying to get all lots properly included in your Quicken representation.  
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    It does not matter which approach you choose.  The placeholder transactions establish share balances as of a specific date.  They do not establish cost basis.  If you want to enter transaction history prior to the earliest date of the transactions provided by the financial institution, you need to do so manually.  If you simply want to establish the cost-basis of your holdings as if you had just transferred the shares to a new brokerage account, you may use the Add - Shares Added wizard (select Enter Transactions and press Alt + Z). 

    If you haven't already, you may want to review: https://community.quicken.com/discussion/7267839/quicken-faq-managing-placeholder-entries-in-quicken-for-windows