CD prices - $100 vs $1

baddabing
baddabing Member
edited October 3 in Investing (Windows)
Why does quicken treat cd price like a bond? Ii downloads the price of a hundred dollars instead of $1. It changes the quantity to balance the transaction. Quicken blames the broker and the broker blames quicken. I have to manually change the prices.

Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    Does your brokerage show a price of $1? My brokerage (Morgan Stanley) agrees with Quicken that the unit price is $100.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Quicken blames the broker and the broker blames quicken. I have to manually change the prices.
    Quicken does not supply prices for CDs.  That data is supplied by the financial institution as part of reporting their balances and holdings in the account.  The program then uses what the FI supplies.  It sounds to me as if they are being inconsistent in this manner for you.   
  • baddabing
    baddabing Member
    If you buy a certificate of deposit whether through a bank or financial institution, the unit price is $1.00 not $100.00. That said, the unit price in Fidelity is $1.00. How it get changed to $100 is a mystery. BTW, this has been going on for many years.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Go to the Security Detail page for the CD and check what the Security type is set to. It should be CD and not Bond.
    QWin Premier subscription
  • baddabing
    baddabing Member
    It is set correctly. When Q came out with a separate classification for CDs, I thought that would solve it but no chance. I'll have to manually input the correct prices as I've done for years.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    The security setting isn't going to change this.  That is for "grouping" and such in reports.
    What controls if it is going to use 1 means 100 is the "action" of the transaction.  "Bonds Bought".
    And the price itself is provided by the broker in the data sent to Quicken when downloading transactions.

    Which broker is this?

    The details for the pricing is found in the OFX data (Help -> Log Files -> OFX Log).
    There is going to be both a "buy/sell" section which determines the "action" for the transaction.
    Here is a mutual fund buy:
                        <DTEND>20110416160000.000[-5:EST]
                        <BUYMF>
                            <INVBUY>
                                <INVTRAN>
                                    <FITID>230590534
                                    <DTTRADE>20100923160000.000[-5:EST]
                                    <DTSETTLE>20100924160000.000[-5:EST]
                                    <MEMO>BUY
                                </INVTRAN>
                                <SECID>
                                    <UNIQUEID>461418691
                                    <UNIQUEIDTYPE>CUSIP
                                </SECID>
                                <UNITS>97.276
                                <UNITPRICE>10.2800279
                                <TOTAL>-1000.0
                                <SUBACCTSEC>CASH
                                <SUBACCTFUND>CASH
                            </INVBUY>
                            <BUYTYPE>BUY
                        </BUYMF>

    Then later down there is a section that uses the UNIQUEID to state what the current price is.
                <MFINFO>
                    <SECINFO>
                        <SECID>
                            <UNIQUEID>461418691
                            <UNIQUEIDTYPE>CUSIP
                        </SECID>
                        <SECNAME>INVESTMENT MANAGERS SER TRUST JUBAK GLOBAL EQUITY FUND
                        <TICKER>JUBAX
                        <UNITPRICE>11.09
                        <MEMO>Price as of date based on closing price
                    </SECINFO>
                    <MFTYPE>OPENEND
                </MFINFO>

    And as @q_lurker said the broker probably has an inconsistency in the way they are reporting these entries.
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