Simple vs Complete Investing

QWMax

Happen to catch this in the release notes for R30.14. Saw it in R30.9 but it stated would be turned on for new users and the default would be complete investing for existing users so didn't pay much attention to it.
Checked my settings after reviewing release notes for R30.14 and found the box for Enable Simple Investing (positions-only) (Beta) checked.
Here's the question. What are the implications of each and how does unchecking the box affect past transactions and registers? I am not able to find any detail as to how this affects my data.

UKR

Had the same setting enabled after R 30.10 installed.

Unchecked it without any ill effects, but maybe I was lucky ...

YMMV. Backup your data file before you uncheck it. Verify that all your investment accounts are OK afterwards.

Chris_QPW

Well there have been some bugs reported, and as far as I know, fixed, but there are certainly ramifications if you continue to use it and download new transactions, as in, in simple mode it isn't going to download transactions, just adjust security positions and cash amounts.  So you wouldn't be able switch back to complete and continue on without a lot of work of replacing missing transactions.

This makes perfect sense since if Quicken could download the complete transactions and always get it right, there would be no reason for you to accept/review transactions, which of course you do need to do.  So simple "downloads" are exactly what they said they will be, just adjustments.  This is fine for a lot of people that are just tracking that and don't care about tax or cost kinds of information.  Say in a 401K or an traditionally IRA.

Note this is the same kind of model that Mint and Simplfi and such use for investment accounts.

Here are some threads on it:
https://community.quicken.com/discussion/7882085/has-anyone-noticed-the-new-simple-positions-only-tracking-method-for-investment-accounts

https://community.quicken.com/discussion/7883381/how-do-i-get-to-the-transactions-ledger-on-version-r30-09/p1

Looking at the R30.14 dialog (still in staged release mode right now) I see that they have updated the dialog when switching to simple mode to warn about the ramifications like was suggested in the above thread.

Jim_Harman

I'm glad they are now providing this explanation.

Unknown

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Jim_Harman

You are right that it is a new feature.

One potential issue is that if you decide to switch back to Complete investing in the future, you will have to enter any transactions that were missed while in Simple mode and delete the Adds and Removes that Quicken entered to keep the balances up to date.

QWMax

Chris_QPW

Your image above is interesting. I currently have 30.14 (build 27.1.30.14) and I do not have any option or notification in my account details to toggle back and forth in any of my investment accounts. The only place I see the option is in the preferences (investment transaction) menu. Is this only present in a newly created investment account?

Either way, I want the detail associated with the transactions etc. Otherwise suppose I would use one of the lower end (cheaper) finance tracking software out there.

Chris_QPW

Go to the account register and select the gear icon, and then Edit account Details.


The dialog I posted comes up when you select change the the "Tracking Method".  In other words, after you select "Simple - Positions Only" in the account details (or go back to Complete after being in Simple)

Note you will only see the "Tracking Method" if you have selected to enable it on the Edit -> Preferences -> Investment transactions (Enable Simple...)

On whether to go to this method or not the major question I would have isn't about it being a new feature.  It would be to answer this question "Are you sure that you will never want to have complete in the future?"

My Dad never wanted "complete" for his accounts.  So he was always doing "simple".
Simple is nothing more than selecting "Adjust Security balance" for each security and also "Adjust Cash balance" and using the number from the statement.  Well it a bit different with this new mode in that it isn't manual and it doesn't wait for the statement, but you get the idea.  They will just be entering Add/Remove shares, and doing a deposit/withdraw for changes in cash.

It isn't hard to maintain this manually.  The big problems would come that if you decide that you want to go back to "complete".  Now you are faced with removing all these "adjustment transactions" and entering the real ones.

Chris_QPW

P.S.  The fact that I can't answer that question, is the only reason I haven't jumped on that mode.

QWMax

OK - I see the dialog now. Wasn't aware it involved both turning it on in preferences to make it visible in account details then selecting the tracking method there.

Probably explains why this didn't seem to affect my investment downloads as it appears to default to complete in the account details.

As mentioned previously, I also am not interested the simple tracking method.

Thanks for all the feedback.

Chris_QPW

From the release notes it defaults to complete for "existing customers", and simple for "new users".  How they determine that I have no idea.

richard werbin

I am a long time Quicken user.
I just noticed that some new retirement investment accounts were set up as simple by default.
My older accounts were all "complete".
I am switching back to complete.