Quicken needs to robustly recognize Stock Split transaction downloads
Charles Schwab and Edward D Jones - and perhaps other brokerages - do not download Stock Split transactions to Quicken. Instead they download "Add Shares" transactions with zero cost basis. Arguably, this is the brokerages not providing the correct data to Quicken...but the data that they do provide is ample to recognize and properly process a split with just a little pattern matching on Quicken's part.
When Quicken automatically enters these Add Shares transactions (which it does on QMac - on QWin it can be set to be reviewed manually) - the result is that the cost basis per share for all shares of the stock holding are now wrong. Instead of the cost basis being evenly divided, within each basis lot, across all post-split shares... each pre-split lot retains its pre-split basis, and there is a single massive post-split lot with zero basis. Any subsequent sales will have the wrong cost basis reflected in Quicken and in realized capital gains tax reports...and obviously if there are subsequent splits the data error percolates.
I think it would be easy for the Quicken software engineers to program a simple rules-based approach to properly convert these errant "Add Shares" from certain brokerages into a proper "Stock Split" transaction. Thus, Quicken investment data would not get corrupted by allowing the "Add Shares" to be accepted without at least a dialog asking us what to do.
The idea/logic: If a downloaded "Add Shares" transactions has ZERO as the cost basis / purchase price, and happens on the SAME day as a stock split for XYZ stock, and corresponds EXACTLY to an N for M stock split known by Quicken (via historical quote download) to have happened on that date... it is 99.9% likely that it is really an N for M split.
Quicken can then provide a pop-up saying "Your brokerage has added N shared of XYZ stock to your account on mm/dd/yy. This seems to correspond to a J:K split that was declared on that day. Would you like Quicken to enter this as a stock split? Or, did you deliver new shares to your brokerage on that day?" [Enter as split] [Leave as New Shares]
I'm copying this same Idea to the QWin ideas forum since the same issue happens there.