Convert Single Mutual Fund Account Imported into a Quicken for Mac File

jess8887

Is it possible to change an account type originally setup in a Quicken for Windows (QW) file as a single mutual fund, then imported into a Quicken for Mac (QM) file?

Apparently, QM does not have an option to setup a single mutual fund account. The imported account from QW retained its single mutual fund attributes and works differently than other mutual fund account I created in QM (i.e., does not track cash holding).

If possible, I would like consistency in how all my mutual funds work in QM.

jacobs

@jess8887  Quicken Mac supports single mutual funds upon conversion, but doesn't let you set them up. That seems an odd approach from the developers, but that's what they have said it's meant to do. The Mac product manager wrote in another thread: "As far as we're concerned, Quicken Mac (subscription) does support single-mutual funds. You aren't seeing the transfers because single mutual funds don't have a cash balance and therefore we hide the transfer even though it's actually there under the hood for reporting and other purposes.  This is similar to Quicken Windows that has a BUYX action which is a combination of a Buy and a Transfer.  This is the way we designed the feature so it's working as we designed it."

So your question now appears to be: can you turn your single mutual funds into regular Quicken Mac brokerage funds, so all your accounts work the same way? The answer is… maybe. They disabled the ability to make some changes with a single mutual fund, and the last way I read about may or may not still work in the current version. A user last year wrote that he tried to see if he could change a transaction which was not registering a transfer by trying to perform a payment/deposit out of a single mutual fund account, and he got this dialog box:



So if you try that and get this option, it seems you can change the single mutual fund to a regular brokerage account; if you don't get this option, it may be that they disabled the conversion ability because there were problems discovered with it. I can't test because I have none of these accounts, and can't create one.)

Quicken_Natalie

Hello @jess8887,

Thank you for taking the time to visit the Community and share your inquiry, although I apologize that you have not yet received a response.

If you are still experiencing this issue, I suggest contacting Support directly for more advanced assistance.

https://www.quicken.com/support#contact-support

Support has access to tools and information that the Community does not have, and can best work with you on identifying a solution.

Thank you,

Quicken Natalie

jacobs

@jess8887  Quicken Mac supports single mutual funds upon conversion, but doesn't let you set them up. That seems an odd approach from the developers, but that's what they have said it's meant to do. The Mac product manager wrote in another thread: "As far as we're concerned, Quicken Mac (subscription) does support single-mutual funds. You aren't seeing the transfers because single mutual funds don't have a cash balance and therefore we hide the transfer even though it's actually there under the hood for reporting and other purposes.  This is similar to Quicken Windows that has a BUYX action which is a combination of a Buy and a Transfer.  This is the way we designed the feature so it's working as we designed it."

So your question now appears to be: can you turn your single mutual funds into regular Quicken Mac brokerage funds, so all your accounts work the same way? The answer is… maybe. They disabled the ability to make some changes with a single mutual fund, and the last way I read about may or may not still work in the current version. A user last year wrote that he tried to see if he could change a transaction which was not registering a transfer by trying to perform a payment/deposit out of a single mutual fund account, and he got this dialog box:



So if you try that and get this option, it seems you can change the single mutual fund to a regular brokerage account; if you don't get this option, it may be that they disabled the conversion ability because there were problems discovered with it. I can't test because I have none of these accounts, and can't create one.)

jess8887

@jacobs I did get he option to turn off single mutual fund and it changed the account to a regular brokerage account. Thank you