How to import mutual fund data from Q2007 ?

Quicken for Mac 2020 has made a total mash of importing my mutual fund data from Quicken for Mac 2007. Every transaction for 15 years of data is wrong.

Many transactions have data that is impossible in Q2020: there is a mass of sell transactions which have transfer data yet, there is no way to edit/remove that transfer data !

Data imported for other brokerage accounts correctly created two transactions (a dividend transaction and a payment/deposit transaction) for each combined dividend-transfer transaction in Q2007.

But, for the mutual fund, those dividend-transfer transactions were turned into a dividend and two sell transactions. One of the sell transactions includes a transfer to the bank account – which as said is not possible to create or edit. Even worse, the sell transactions show a transfer of shares, not cash to the bank. Again, that is just not possible ! Thus, no cash leaves the account and the balance just increases over the years. The share balance also is reduced over the years instead of remaining static.

I've attached a screen capture of an example set of transactions.

Is there a way of removing the transfer data from those sell transactions or to change the transaction type from sell to Payment/Deposit without having to re-enter every transaction ?

Thanks.
Quicken v6.4.2 (Build 604.41752.100) in macOS 10.15.7, Catalina on iMac 27" (late 2009). Quicken for Mac user since 1997.

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Answers

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    Hi, Garry:

    Somehow, I suspect you will have some manual correction ahead of you, short of deleting the account and letting it set it up again (if possible). I don't advise that.

    The Sale and transfer (when combined in a single transfer) have been problematic for a few users in conversions. It sounds like other accounts handled them correctly. But, from the limited info I can get from your screenshot, it appears this fund is also showing you (perhaps needlessly) the buys/sells of the cash going into/out of the money market fund holding the cash behind the scenes. (I can only guess this based on the $1 share amount.)

    I am not there to see what you mean by not being able to edit the transaction. Is the middle (uneditable) transaction in your screenshot supposed to be a [Type] "Payment/Deposit" and be a transfer of $55.48 to your bank account

    Is this "Bank account" a cash/credit account (i.e., checking, savings), or another investment account? (I don't understand how you could transfer shares to a non investment account, either.) 
  • Garry@
    [email protected] Member, Mac Beta Beta
    John, many thanks.

    The first transaction is correct – it's a cash dividend payment. But the two "Sell" transactions were created by the import process and should have been a single Payment/Deposit transaction transferring the cash to "My bank account". There was no sale of shares. I did not enter sale data in Q2007 – the import process just made it up. You can see that in the "Memo/Notes".

    The transfer detail "My bank account" in the 2nd transaction is not editable – I can't edit that data – see the attachment. Notice that although it purports to show a transfer to a bank account, the "Total Sale" amount is 0.00 as is price per share. Thus, the "Amount" is zero. Makes no sense to me to auto-create a transaction that transfers zero $ cash, let alone by ignoring the cash balance on the account and selling shares instead.

    The receiving bank account is a vanilla savings account.

    I can't think of a way to just import the Q2007 data for the mutual fund account. The Q2007 import does not enable selection of accounts - it imports the lot. I could export just the mutual fund account to a new Q2007 data file but, there will be complications with all the transfers. Anyway, it might not help.

    So, I think I have to manually change one sell transaction to a Payment/Deposit transaction for each dividend. Probably will delete the other sell transaction.

    Cheers.

    [p.s. I have anonymised account and security names.]
    Quicken v6.4.2 (Build 604.41752.100) in macOS 10.15.7, Catalina on iMac 27" (late 2009). Quicken for Mac user since 1997.

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    edited May 2020
    Thanks for the clarification.

    (Make a backup before you attempt anything.)

    While workarounds are possible to only import a single account, I don't think this is the time for that as any conversion will likely yield the same results.

    If all those Sell transactions created are erroneous (or uneditable), then I would sort by the Reconcile (Clr) column to show all those uncleared transactions grouped together. Review, select them all, and hit delete to remove them. This will get rid of them. That should correct the share balance issues.

    Then, you will be left with the lack of Payment/Deposit transfer transactions. Those you will have to manually enter new (which shouldn't be too hard-it isn't like dividends are paid every day) Then, you can move forward :smile:

  • Garry@
    [email protected] Member, Mac Beta Beta
    Yes, that will be the way to go.

    Many thanks.
    Quicken v6.4.2 (Build 604.41752.100) in macOS 10.15.7, Catalina on iMac 27" (late 2009). Quicken for Mac user since 1997.

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