Does anybody know how to reconcile ML investment statement?

After several attempts to make heads or tails of this in Quicken, I would really love to know how to do this. Suggestions would be helpful.

Best Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    edited September 1 Answer ✓
    Quicken only reconciles the cash balance of investment accounts. Find your statement date, your previous month's cash balance and your current month's cash balance per the statement and that's all you need to enter.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
    I'm glad that helped. If you have unrelated questions, please start a new discussion for each one.
    QWin Premier subscription

Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    edited September 1 Answer ✓
    Quicken only reconciles the cash balance of investment accounts. Find your statement date, your previous month's cash balance and your current month's cash balance per the statement and that's all you need to enter.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    You also want to make sure that Quicken's share balances in the account match those on the statement as of the closing date. You can do this by going to the account and clicking on Holdings. Set the As of date to the statement's closing date and compare the balances.

    If you are downloading transactions for the account, there is an option to have Quicken automatically reconcile its share balance for each of your securities against the broker's balance. This is done each time you download transactions if the option at Edit > Preferences > Downloaded transactions > Compare account portfolio after download is checked. This will report any discrepancies  of more then 0.001sharesin the share counts.

    If downloading you can also go to the account's gear menu and select Reconcile shares.

    If these comparisons show any discrepancies, it is generally better to correct the transactions rather than allowing Quicken to create Placeholders to "fix" the problem.
    QWin Premier subscription
  • Elaine2
    Elaine2 Member ✭✭✭
    I will read through guidance carefully in the morning and see what happens. -- Thank you both
  • Elaine2
    Elaine2 Member ✭✭✭
    Thank you Jim for this helpful information to navigate through the investment section. So far. . .so good. I have to enter unit price manually. I may have some additional questions later you can help me clarify.  Tx you!!
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
    I'm glad that helped. If you have unrelated questions, please start a new discussion for each one.
    QWin Premier subscription