Cash Sweep Account shows wrong cost

raymorr2

Quicken 45.11 Build 27.1.45.11 Windows 10
My investment account has a bank deposit sweep program. Any excess cash in the account buys shares/units at $1.00 per share, and if cash is needed to purchase other securities or pay fees, sold at $1.00 per share. Either way, in or out, always has a cost of $1.00 per share. Quicken shows the wrong cost totals. For example, If the total shares = 5000, with a cost of $5000, it shows a cost over $15,000. One problem that I found, but I don't know how to correct it: When the sweep shares are sold to pay management fees, instead of showing the correct cost, it shows cost and a gain. 1500 shares sold, which should have a cost of $1500, shows: cost $900 net gain of $600. Would appreciate any help. Thanks.

Tom Young

What's the financial institution involved here?

What's the downloading method? 

My assumption is that these sales are entering your transaction list via downloads from the financial institution and unless you've left something out of your explanation or I'm missing something, it seems like those Sold transactions are flat out wrong and are the source of the difference between the number of shares that you own and the reported cost basis.  If that's in fact the case then the what needs to be done is to either correct all those Sold transactions, or to make a Remove action for the security, do an Add action to put the security back into the Account with the correct number of shares and correct cost, and make sure to either delete any downloaded Sold transactions, substituting your own manually entered sold actions, or editing them to get the cost basis right.

If you're dealing with hundreds of these Sold transactions then probably going the latter route would be preferred.  If you choose to edit all the old Sold transactions then I think the easiest way to do this is to run an Investment Transaction report, customized to look only at this Account, only this security, and with only Sold actions.  That would isolate those sells in the report, then you could click individual sells on the report which would then put you on that transaction in the Account, modify the transaction and then go back to the report to do it again with the next transaction.