Correcting Stock/Mutual Fund Names

Over the years I look at my portfolio holdings and have noticed several stocks of the same name split into two separate holdings even though they are the same stock. For example My holdings will show 93 shares of stock abc and 7 shares of stockabc. I really have 100 shares but an added space says I have two separate holdings. When I try to combine the two under the proper name, stock abc by correcting the title from stockabc to stock abc Quicken won't let me. My work around has been to "sell" the 7 shares of stockabc and then buy 7 shares for stock abc. I also tried transfer of shares but this affects the accuracy of profits and losses when I sell. How do I make this type of correction while keeping accurate original costs?

Best Answer

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    Accepted Answer
    jefny60 said:
    Thank you for responding. How I got the 2 different names I am not sure. In actuality the duplicates are of mutual funds with multiple entries through income reinvestment that go back almost ten years. Some where along the line I set up a duplicate security name that was off by 1 space. I actuality have this problem with three different mutual funds. I would have to track down every transaction and correct the name but if this what I have to do so be it.

    I have been using Quicken for over 25 years and still have securities going back that far. Usually at the end of the year I compare my actual holdings to my Quicken holdings and then try to correct differences.
    Unfortunately, I know of no way to do a mass update for this so it could be a time consuming activity if/when you decide to make the transaction edits.
    If I were in your shoes, to make the editing process perhaps less time consuming:
    1. Select the security name with the fewest number of transactions to be edited.
    2. Change the security name in those transactions to the other security name.
    3. After all the holdings of that security name have been changed to the other security name, delete that security so that only the other security name remains in Security List.
    4. Then you can change the name of that other security still in Security List to whatever you want it to show.
    (QW Premier Subscription: R34.24 on Windows 10)

Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    @jefny60 - I think the best route to go would be to edit the applicable transactions by changing the security in the transaction edit dialog from "stockabc" to "stock abc" (or the reverse if that is what you wish).  This will retain all of the cost basis information.
    But I am curious how you got 2 different security names set up in Quicken for the same security.  Before changing these transactions, I suggest making sure that the tickers and CUSIP ID numbers for each "identical" security are the same.  If they are the same then you can feel confident that they are truly identical.
    Once you have completed the transaction edits so that all of the transactions fall under just one of the securities, you can delete the other security.
    (QW Premier Subscription: R34.24 on Windows 10)
  • jefny60
    jefny60 Member
    Thank you for responding. How I got the 2 different names I am not sure. In actuality the duplicates are of mutual funds with multiple entries through income reinvestment that go back almost ten years. Some where along the line I set up a duplicate security name that was off by 1 space. I actuality have this problem with three different mutual funds. I would have to track down every transaction and correct the name but if this what I have to do so be it.

    I have been using Quicken for over 25 years and still have securities going back that far. Usually at the end of the year I compare my actual holdings to my Quicken holdings and then try to correct differences.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    Accepted Answer
    jefny60 said:
    Thank you for responding. How I got the 2 different names I am not sure. In actuality the duplicates are of mutual funds with multiple entries through income reinvestment that go back almost ten years. Some where along the line I set up a duplicate security name that was off by 1 space. I actuality have this problem with three different mutual funds. I would have to track down every transaction and correct the name but if this what I have to do so be it.

    I have been using Quicken for over 25 years and still have securities going back that far. Usually at the end of the year I compare my actual holdings to my Quicken holdings and then try to correct differences.
    Unfortunately, I know of no way to do a mass update for this so it could be a time consuming activity if/when you decide to make the transaction edits.
    If I were in your shoes, to make the editing process perhaps less time consuming:
    1. Select the security name with the fewest number of transactions to be edited.
    2. Change the security name in those transactions to the other security name.
    3. After all the holdings of that security name have been changed to the other security name, delete that security so that only the other security name remains in Security List.
    4. Then you can change the name of that other security still in Security List to whatever you want it to show.
    (QW Premier Subscription: R34.24 on Windows 10)
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Within the transaction lit, you can sort the transactions by Security.  That can make it easier to go through the list editing the names as @Boatnmaniac suggested.  Using the Paste feature (Ctrl-V for the Windows settings) can make it go pretty fast.     
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