How do I handle a preferred securities conversion to stock in the underlying security

Question

I had a preferred security which automatically converted to stock, how do I handle that in Quicken, there doesn't appear to be an "Exchange" transaction.  And, I received "cash in lieu".

q_lurker · Answer

I would first look at a Corporate Acquisition action (Enter transactions button). Parent acquires Preferred at a particular share ratio. 
That presumably results in a fractional share of the parent. Sell that fractional share for the cash in lieu amount received.