Merrill Lynch Dividend reinvestment

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Jack Biddle
Jack Biddle Member ✭✭
Merrill doesnt comply with Quicken download Format. Instead they download three transactions. Dividend paid. Shares added. Cash debited.

That doesnt work because you then have xero basis stock. ML knows and wont fix it. Is this something Quicken can recognize and make a single transaction? -- 'Dividends Reinvested'. I have dropped having stocks in DR, even though I want it, because manually correcting 3 transactions per, is a time suck in a large portfolio.

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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    The answer is no, Quicken can't correct for this kind of financial institution mistake without causing more problems than it is worth.
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  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
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    Merrill doesnt comply with Quicken download Format. Instead they download three transactions. Dividend paid. Shares added. Cash debited.
    ...
    manually correcting 3 transactions per, is a time suck in a large portfolio.
    What I would do is edit the downloaded Div transaction to be a ReinvDiv and delete the other 2 transactions. So you really only have to correct 1 transaction.

    Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.

  • mrzookie
    mrzookie Member ✭✭✭✭
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    @Jack Biddle

    You only need to edit one txn - entering the dividend $ value into the Add Shares txn gives you the cost basis. The Div and Withdraw don't need to be touched. You don't even need to open Add Shares to edit - you can enter the $ info on the register page. Or, you can do what @Rocket J Squirrel suggests, but that's a couple more clicks.
  • Jack Biddle
    Jack Biddle Member ✭✭
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    > @mrzookie said:
    > @Jack Biddle
    >
    > You only need to edit one txn - entering the dividend $ value into the Add Shares txn gives you the cost basis. The Div and Withdraw don't need to be touched. You don't even need to open Add Shares to edit - you can enter the $ info on the register page. Or, you can do what @Rocket J Squirrel suggests, but that's a couple more clicks.

    I will do that. Good idea. I have manually changed dividend paid to div reinvested, added the number of shares and deleted the zero basis shares added and cash debit. Your way saves two steps
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