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T Row Price Changed Accounts (and Ticker)

jco61

What's the easiest way to do this? My T. Rowe Price Fund Switch Names and Ticker. The old fund was handled manually. I did the all the entries. I created a new fund already and sync...to do it online. So now the new fund shows a similar total as the old fund. It would have made more sense to create the new fund and transfer between them, but I'm letting Quicken handle the new transactions instead of doing them manual. I now have two funds with very similar totals. I need to zero the total from the old account (somehow). This will show a Capital Gains distribution which would be incorrect (although that is the least of my worries).

For the record (ticker):
Old Fund: PRHSX
New Fund: THISX

It seems, in the future, quicken would allow for this to occur more simpler from the pull-down menu as it does to record a Fund's Name Change.

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Accepted answers

Sherlock

I suggest you use the Mutual Fund Conversion wizard: open the account, press Ctrl + N, select Mutual Fund Conversion in the Enter transaction: pull-down menu, ...

If you're using single mutual fund account registers, you should have two registers. Deactivate the Online Services of the register that held the original mutual fund, set the register to support multiple securities, perform the Mutual Fund Conversion, and move the generated Added transactions to the new register.

Sherlock

jco61 said:

I have a quicken backup file that does not have the new fund. So, I'm back my file is back to a point where I have the old Mutual Fund (Single Fund) that needs to convert to a new fund.

I'm in the fund, but I don't see "Mutual Fund Conversion". Ctrl + N brings up the Transaction Wizard which is where I saw "Mutual Fund Name Change". I also see "Shares Transferred Between Accounts", but I know that is NOT what I want. I'm using the Windows Version of Quicken if that makes any difference.

I suspect you may not have set the original account register to support multiple securities as directed earlier: open the register, press Ctrl + Shift + E, choose No for Single mutual fund account, and select OK

Sherlock

jco61 said:

Seems to be complete. I have a bunch of transactions that are not reconciled now. When I look at the balance, the share price is off by approx .01 causing my total balance to be off by quite a bit (large fund). Do I just handle that by doing a reconciliation?

The share price is not relevant. Check the share balance. The lots should match the statement from the broker. The price quote for the new mutual fund should be a few hours after the market closes.

All comments

Sherlock

jco61

I have a quicken backup file that does not have the new fund. So, I'm back my file is back to a point where I have the old Mutual Fund (Single Fund) that needs to convert to a new fund.

I'm in the fund, but I don't see "Mutual Fund Conversion". Ctrl + N brings up the Transaction Wizard which is where I saw "Mutual Fund Name Change". I also see "Shares Transferred Between Accounts", but I know that is NOT what I want. I'm using the Windows Version of Quicken if that makes any difference.

Sherlock

jco61 said:

I have a quicken backup file that does not have the new fund. So, I'm back my file is back to a point where I have the old Mutual Fund (Single Fund) that needs to convert to a new fund.

I'm in the fund, but I don't see "Mutual Fund Conversion". Ctrl + N brings up the Transaction Wizard which is where I saw "Mutual Fund Name Change". I also see "Shares Transferred Between Accounts", but I know that is NOT what I want. I'm using the Windows Version of Quicken if that makes any difference.

jco61

Okay, you are correct, I needed to set it to support a multiple fund account. Now the Mutual Fund Conversion is displayed. I filled in the information. It is automatically entering numerus new lines of transactions as I type this comment. A bit scary. I will report to you after it completes.

jco61

Seems to be complete. I have a bunch of transactions that are not reconciled now. When I look at the balance, the share price is off by approx .01 causing my total balance to be off by quite a bit (large fund). Do I just handle that by doing a reconciliation?

Sherlock

jco61 said:

Okay, you are correct, I needed to set it to support a multiple fund account. Now the Mutual Fund Conversion is displayed. I filled in the information. It is automatically entering numerus new lines of transactions as I type this comment. A bit scary. I will report to you after it completes.

What the wizard does is create a Removed action for the entire holding of the original security and create Added action transactions for each lot of the original security converted into the new security to maintain the appropriate cost basis.

Sherlock

jco61 said:

Seems to be complete. I have a bunch of transactions that are not reconciled now. When I look at the balance, the share price is off by approx .01 causing my total balance to be off by quite a bit (large fund). Do I just handle that by doing a reconciliation?

The share price is not relevant. Check the share balance. The lots should match the statement from the broker. The price quote for the new mutual fund should be a few hours after the market closes.

jco61

All seems good and I thank you for your help. Does it make sense to switch back to a "Single MF" (if that can be done) so that I can reconcile my usual way?

Sherlock

jco61 said:

All seems good and I thank you for your help. Does it make sense to switch back to a "Single MF" (if that can be done) so that I can reconcile my usual way?

I would only use a single mutual fund if it were necessary.

If you choose to use single mutual fund account, you should create a register for the new security and move the Added action transactions generated by the Mutual Fund Conversion wizard to the new register: open the original register, press Ctrl + Shift + N, and select Move Transactions