Allow user to enter price for buy/sell transactions

My share balances are slowly diverging from my account statements. For every mutual fund I own, the price is computed to two decimals, shares are computed to 4 or more decimal places. Why am I forced to allow Quicken to compute the share price when I know it exactly? Should be a simple fix? It is the way it worked in QM2007. (Which I would go back to if I could.)
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  • Jon
    Jon SuperUser, Mac Beta Beta
    If you want to enter the share price yourself, click on the pencil next to the Price Per Share window and it will let you enter the price per share & number of shares and calculate the Total Cost. But I don't think doing that is going to make things better for you as far as matching your statement, if anything it will make it worse. You want the number of shares and the total cost to exactly match your statement; if that means the price per share is ever so slightly off then let it be off - it's the least important number out of the three.
    Quicken Mac subscription. Quicken user since 1990.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    When I switched from Quicken 2007, I found it annoying that modern Quicken Mac has you enter total cost and number of shares, and it calculated a price per share to 6 decimal places — it just seemed wrong, since by brokerage statement showed only a price in dollars and cents. But as Jon points out, of the three components in the shares x cost per share = total cost equation, one of those values is going to be factional to make the math work.

    For instance, I made a $15,000 purchase of a security and received 116.369 shares. Quicken shows the price per share as $128.900309.

    If you used the Quicken 2007 method of entering the transaction as 116.369 shares at a price of $128.90, the total price would be $14,999.96. I used to resolve the rounding issue by adding 4¢ in the commission field. But the way modern Quicken Mac does it is more accurate. As Jon says, the two most important numbers of the three is the total cost (I spent exactly $15,000) and the number of shares (I received exactly 116.369 shares); the cost per share is a calculated value — and $128.900309 is actually more accurate than the rounded $128.90 which my brokerage shows.

    You say you know the price per share exactly, but when you do the math as I illustrated here, you find that you actually don't. ;) It surprised me when I first moved from Quicken 2007. But since a recent update allows you to click the pencil icon and change to entering the price per share and number of shares, you can do that — but you'll find your total price for some transactions is off by pennies, and you'll need to use the commission field to force it to be the "right" value.
    Quicken Mac Subscription • Quicken user since 1993