I need help with a conversion

budi
budi Member ✭✭
Vanguard converted an account from an investor to and admiral account. The share price and the number of shares are different but the total dollar amount is the same. I have tried many different ways to accomplish this in my Quicken account but have been unsuccessful.
How can I record this conversion so I end up with the correct number of shares at the correct price in the Admiral account?

Best Answer

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    budi said:
    I changed the mutual fund to non-single fund status. I used the mutual fund conversion option
    It listed multiple transactions on the process of the conversion. When it was complete, it still shows that the value of the account under the original fund name. I can only see the adm fund if I open the INV fund tab and then go to holdings. How will that work as I add reinvestments to that account? Will quicken default to the new, Adm fund? Will that Adm fund be an option in the drop down of accounts?
    You may set any unique name for the account: open the account and press Ctrl + Shift + E

    The non-single mutual fund accounts do not have a default security and may contain transactions for any security (or cash).  The security used in a transaction may be selected from a menu list of securities when we create or edit a transaction.

Answers

  • budi
    budi Member ✭✭
    how can I get assistance?
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    a) do you have a setup in Quicken with one fund per account or can an account have multiple securities?

    Assuming multiple securities, you should be able to click the Enter Transactions button for that account, select the Mutual Fund Conversion option and there have your Investor class funds converted to Admiral class shares.  You will tell the program how many Admiral shares you received for all of your Investor class shares in that account. 
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Please provide the version of Quicken being used: select Help > About Quicken

    Are you using a single mutual fund account (open the account and press Ctrl + Shift + E)?



    Are all holdings of original security being converted?  For example, is the original security still to remain held in another account?

    You said you've tried multiple ways to accomplish this.  What did you try and what did not work?
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    I found this help article. How to enter a mutual fund class conversion
    https://help.quicken.com/pages/viewpage.action?pageId=3216619 

    I never saw this kind of help page before.  Why doesn't it look like other Quicken help articles?  And where is the link to our FAQs?  Did they move?  My links are old.  

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Quicken has changed things, as best I can tell, where clicking on Help > Quicken Help now opens a (Quicken?) browser and drops you into an online version of help.  The link you provided comes up if you click on Help > Quicken Help and type "share class conversion" in the search box.

  • budi
    budi Member ✭✭
    volvo girl:
    I tried the link. It says to select Mutual fund conversion from the enter transaction drop down. That is not an option It does not show in my list of possible transactions

    In general, the messages say that I can reply directly to the email but they all get returned as undeliverable The only option is to log in and then post in this window.

    Sherlock
    : I am using Quicken Deluxe, version R33.24
    It is a single mutual fund and all shares are being converted.
    I have tried so many ways that I am sure I won't remember all of them.
    The most recent was to sell all the shares in the original fund. I then tried to buy shares in the new fund with that cash but it wouldn't let me. The old fund wasn't an option as source of funds. I then tried transferring the cash to the new fund. That didn't work either.
    When I tried to use the cash from the original fund to buy shares in the new fund, it defaulted to the number of shares and the original price and I couldn't figure out a way to edit that...the error window showed up to correct for price etc
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    This may be old......

    To switch to Vanguard Admiral (I have several) you should use Corporate Acquisition (or the new Mutual Fund Conversion) and you have to manually calculate how many new shares you got for each ONE old share. Took me 3 times to notice that part.  So you may have to do some dividing on paper first. Don't worry if the price per share comes out fractionally different. Just be sure the # of shares and cost is accurate. Most of my conversions to Admiral were for all the same # of shares.  So I just changed the name and symbol.  One fund was so close I just did an adjustment and removed .176 shares.  I had 536.743 shares before and they converted in only 536.567 shares.

    If you have it set up as a Single Mutual Fund (SMF) you need to edit the account and change it to No. 

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    budi said:
    Sherlock
    : I am using Quicken Deluxe, version R33.24
    It is a single mutual fund and all shares are being converted.
    I have tried so many ways that I am sure I won't remember all of them.
    The most recent was to sell all the shares in the original fund. I then tried to buy shares in the new fund with that cash but it wouldn't let me. The old fund wasn't an option as source of funds. I then tried transferring the cash to the new fund. That didn't work either.
    When I tried to use the cash from the original fund to buy shares in the new fund, it defaulted to the number of shares and the original price and I couldn't figure out a way to edit that...the error window showed up to correct for price etc
    I prefer using the Corporate Acquisition wizard in a non-single mutual fund brokerage account to perform mutual fund conversions.  If you want to maintain single mutual fund accounts, you may use the Shares Transferred Between Accounts wizard to move the holdings to and from a temporary non-single mutual fund brokerage account to maintain the appropriate lots and cost basis. 
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭

    budi said:
    In general, the messages say that I can reply directly to the email but they all get returned as undeliverable The only option is to log in and then post in this window.
    That is a bad message canned into the emails apparently forced on the community by the forum software.  You CANNOT reply to the emails you get with these replies.  You must get back to the site and post your replies there as you have done.  


    budi said:
    volvo girl:
    I tried the link. It says to select Mutual fund conversion from the enter transaction drop down. That is not an option It does not show in my list of possible transactions
    I take it your Enter Transactions button options do not include as shown below.  
      
             

    That would indicate you do have this Quicken account set up as a Single Mutual Fund Account.  In that case, I would recommend changing that.  See @Sherlock post above and change the Yes to No.  You would then have the option for the Mutual Fund Conversion or the Corporate Acquisition as various users have suggested.  There might need to be some follow-up actions to clear up any download issues, depending on how your Vanguard accounts are set up.  
  • budi
    budi Member ✭✭
    I changed the mutual fund to non-single fund status. I used the mutual fund conversion option
    It listed multiple transactions on the process of the conversion. When it was complete, it still shows that the value of the account under the original fund name. I can only see the adm fund if I open the INV fund tab and then go to holdings. How will that work as I add reinvestments to that account? Will quicken default to the new, Adm fund? Will that Adm fund be an option in the drop down of accounts?
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    How are your Vanguard funds setup?
    1) As a brokerage account?
    2) As a single Mutual Fund account?
    3) As multiple Mutual Fund accounts?
    This question is with respect to this one account only - the account where the conversion took place. 
    Vanguard mutual fund account numbers take the form of xxxx-yyyyyyyyyyy.  The first four digits (xxxx) refer the the fund and the Admiral class number will be different from the investor class number.  The latter 11 digits (?) are unique to you and your account(s).  They may be the same for both the new Admiral class shares and the Investor shares, or they could be the same.  If the 11 digits are the same, the answer to 2) above is yes.  If the 11 digits are different, then 3) is yes.

    As the download connection is made between Quicken and Vanguard, if 1) or 2) above are yes, no changes should be necessary.  If 3) is yes, then you will need to disable the current "Online Services" for this Quicken account, and then re-establish the connection so that the new Vanguard account matches to this Quicken account.   Backup before going through that connectivity change -- just in case.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    budi said:
    I changed the mutual fund to non-single fund status. I used the mutual fund conversion option
    It listed multiple transactions on the process of the conversion. When it was complete, it still shows that the value of the account under the original fund name. I can only see the adm fund if I open the INV fund tab and then go to holdings. How will that work as I add reinvestments to that account? Will quicken default to the new, Adm fund? Will that Adm fund be an option in the drop down of accounts?
    You may set any unique name for the account: open the account and press Ctrl + Shift + E

    The non-single mutual fund accounts do not have a default security and may contain transactions for any security (or cash).  The security used in a transaction may be selected from a menu list of securities when we create or edit a transaction.
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