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Add Option To Show (Hide) Uncleared Investment Lots.

Gary
Gary Member ✭✭✭
edited March 15 in Investments (Windows)
Suggestion:

When viewing investment holdings, add option to Show (hide) Uncleared transactions.
This would enable a more truthful way to match reconciled holdings to brokerage statements.
This is because End of month trades are downloaded to Quicken and posted to the Quicken register using the transaction date, but the brokerage end of month statement does not clear the transaction (and affect both holdings and cash balance) until the settlement date.



Additional Information:

In the United States, the Trade Date is used for deciding tax lots, and capital gains. Trades that occur on December 30 or 31 and settle 2 days later should be, and are, downloaded to quicken using the trade date. But that causes reconciliation issues for pending transactions (trades that have not yet cleared the brokerage because that takes 2 business days).

In the case of Fidelity:
  • Pending (unsettled) trades appear in the Quicken register as though they actually occurred on the Trade Date, and also affect cash balance as of the trade date.
  • However, Fidelity end of month statements show the trades as pending. Therefore, there is a mis-match between Fidelity Holdings & Cash Balance and the Quicken Holdings and Cash Balance
Because of this timing issue, reconciling Fidelity (and other?) brokerage accounts is difficult when there are pending transactions.
This is documented in these Community posts: 
It would be best if Quicken could include and handle the trade date and settlement date correctly, but that may be a tall ask, if that data is not downloaded from the brokerage. The above feature request would at least enable the Account Overview to present the same balances as those that appear in the statement (namely ignoring the uncleared transactions when viewing the account balances). 

Notes:

This suggestion assumes the account is reconciled and pending transactions are unchecked from the reconciliation transaction list (when u uncheck a transaction from the reconciliation list the transaction becomes "uncleared" in the register because the Clr column changes from c to blank.

Other relevant Quicken screens and reports should include a similar feature along with the ability to globally set the default value to enable or disable the "Show" Uncleared Investment Lots. 


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