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Fidelity Stock Buy/Sell - now Add/Remove - without cost basis as of 2/6/2023 (edit)

cheryldaniel%gma

I have Quicken Premier and it is updated with the latest version (R50.5). Since February my stock transactions have changed. Instead of providing transactions for me to accept or reject, stock buys are now ADDED and stock sells are now REMOVED (instead of Bought and Sold). No cost is tracked since Feb 6th. The result is all sales show with zero net gain or loss. My reports are meaningless. My Broker is Fidelity and I have 5 accounts and all Fidelity accounts have this issue. I don't have other brokerage accounts to cross-check as to whether this problem is unique to Fidelity. Please HELP!

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Jim_Harman

If you click on the account name, do you see a list of transactions as in the past, or do you see a dashboard with 4 large sections?

If you see the dashboard, your account is in Simple mode, which would explain why you no longer see Bought and Sold transactions. To change back to Complete mode, open each affected account, click the gear at the top right, pick Edit account details, and select Complete in the Tracking Method box.

Then if you don't want to use Simple mode for any of your accounts and to help prevent this from happening again, go to Edit > Preferences > Investments and un-check the Enable Simple Investing box.

Changing to Complete mode will not fix the Added and Removed transactions that were recorded while you were in Simple mode, but correct transactions should be recorded in the future.

Ps56k2

As mentioned above - …
- click on the Quicken Account -
do you see a graphical dashboard -
or a normal Quicken Register of transactions ?

— if you right-click to Edit Account -
do you see the Simple vs Complete menu box -
which is [x] checkmarked ?

cheryldaniel%gma

Thank you both for the response. When was this "simple" feature added? I am dumbfounded as a Quicken User for over 20 years, I never knew this feature existed. I never changed anything so I am not sure how this was changed. I am now faced with manually updating each and every transaction since Feb 6. (I guess I am glad it is not worse!) And I found the warning message provided when I made the switch to "Complete" be ominous and not really helpful. Actually it should provide a better message that documents what the change includes. I keep wondering why I never received this warning when the change occurred (and I have to assume some update made the change without warning). Again, thank you!

cheryldaniel%gma

FYI --Here is the message when changing the setting:

Screenshot 2023-06-12 111537.jpg

Ps56k2

also…. go to Quicken —> Edit —> Preferences —> Investments

and turn OFF - UN-check [ ] Simple Tracking -

cheryldaniel%gma

Thank you. YES I did that. :-)

Jim_Harman

Simple tracking was added in R29.9 in September 2020. Ever since then, Quicken sometimes changes one or more accounts from the traditional Complete mode to Simple mode. This occurs when there is a Quicken update. Disabling Simple mode as @Ps56k2 describes above appears to prevent these changes.

cheryldaniel%gma

Thank you. I had no idea .... and obviously therefore something I did not research as I should have in February when the display changed. This has been a VERY tedious exercise today. (I do quite a bit of trading). Also, I am uncovering the fact that the SIMPLE mode numbers are in fact inaccurate. I have not yet figured out a pattern regarding the inaccuracies.... but my conclusion is there is no way the SIMPLE mode is useful.... (maybe I am in a bad mood from doing all this tedious tracking... ugh).

Ps56k2

Quicken is a personal finance tracking platform - like end of day portfolio status -
not really geared to frequent "trading" as those transactions will be delayed by some random time -
depending upon the brokerage and if your Quicken is using Direct Connect or the migrated Express Web Connect= (EWC+)

Jim_Harman

https://community.quicken.com/discussion/comment/20366974#Comment_20366974

Despite the fact that it does not update in real time, the cost basis and share counts for each transaction Quicken records in Complete mode are generally correct. There are some exceptions to this that often require manual adjustments. Shares transferred between accounts, splits, acquisitions, and spinoffs are examples.

Simple mode is for users who care primarily about their account balances and not their investment performance or cost basis. Buys and Sells are not recorded in Simple mode. When you update, it compares your updated holdings to those the last time you updated and enters Added and Removed transactions with zero cost basis to make them match.

Fidelity NetBenefits 401(k) accounts have a longstanding issue in Simple mode where the account balance is doubled, and Fidelity IRA accounts download a zero cost basis for reinvestments.

Ps56k2

@Jim_Harman - I really like using Quicken to keep track of all my financials…. but I just use a narrow set of features.

I have all my banking, credit cards, and investments saved in Quicken - with downloads of One Step Update.
Use various features to track and Reconcile spending and payments being cleared,
and the manual Reminders and Calendar to enter all payments into Quicken - and manually into Chase.
I have all the Category entries setup - so the various Reports pretty much break out Spending, etc -
I have all my investment transactions, to see the long term buy/sell and cost basis for future coin flips of when to sell.

WAS using the direct bill payment link to Chase - actually was doing the 2-step manual entry, and then discovered on the forum the ability to do the direct entry and Chase payment - then after EWC+ had to go back to the 2-step manual entry.

Have used the Tax Planner to get an idea of how things look - but don't rely on it - use TTax when the year rolls.

Don't use - Sync except on a test file - also don't use Budget -