Year-End Download from American Century (Pershing system) error.

jvprice6

The year-end distributions came in all coded as a Reinvested Dividend without any distinction or memo that would tell which is Long-Term, Short-Term, or ordinary Gain. The accounting system is run by BNY Mellon - Pershing. Their system reflects the year-end as 2 transactions. (1) - the distribution and (2) the repurchase of fund shares. The type of gain distributed is shown in (1), but Quicken only pulls from (2) which has no description in it.

I wish these people would get together to talk. This is a similar, but different, issue as we had with the Schwab downloads this year.

We are paying a premium for an annual service that I would expect Quicken to adapt to the changes that occur in the investment financial accounting industry. Makes me still think about the value I'm getting when I'm forced to recode a hundred or so transactions manually.