Corp Name Change

Rafi Schwartz
Rafi Schwartz Member ✭✭
edited July 2023 in Investing (Windows)
Quicken deals with name change by 'Removing' and 'adding' however this does not carry forward the cost of the original security. If I try to enter a Corporate Name Change transaction I am prompted with 'Security name already in use, please enter a new name. For example, on 4/18/23 CP Canadian Pacific RY Limited (Canada) changed its name to Canadian Pacific Kansas City (Canada) and quicken recorded it by removing one and adding the other however that does not carry forward the cost element.

Comments

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭

    As far as I know, unless Quicken has made a change in a version a bit "newer" than mine, Corporate Name Change doesn't do what you're describing, it simply changes the name, along with a Reminder, with other values unchanged:

    image.png

    It's always worked in this fashion as far as I know. Are you sure you used Corporate Name Change here

    ;

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    I suspect a misunderstanding of who does what. Rather than blaming Quicken, more likely your brokerage probably sent the remove and add transactions and failed to send the cost basis and lot info in that add shares data. That is a common ‘failure’. Quicken pretty much has to accept what the brokerage sends.

    The brokerage sending the data as a new security may be quite valid especially if the CUSIP is different. The user is not obligated to accept that approach.

    As a user, if I wanted to process this in my file as a name change, I would:

    • Back up the file
    • Delete the downloaded Add transactions
    • Delete the new security from the security list
    • Edit the prior security name to the new security name. (That will change all previous transactions to the new name which might not be what you really want.)
    • Edit the prior security ticker if needed (unlikely?).
    • Uncheck the box that the prior security is matched to an online security. At the next download you should get the opportunity to properly match the newly named security to your now renamed Quicken security.

    If you want the security names before and after to be different, an alternate corrective path is possible

This discussion has been closed.

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