What criteria does classic Quicken for Windows use to compare Shares Reported to Shares in Quicken?

BSpies

I'm using Deluxe with R52.33 (Build 27.152.33). My brokerage had changed some shares to a different class of share, hence a different symbol and I incorrectly thought I had it all sorted. After some analysis, I determined that Quicken doesn't use the equity Symbol for comparison. I exported and compared the holdings from the brokerage and Quicken and they're exactly identical for symbol, quantity and value for each equity. I'm convinced my Quicken holdings are correct but I'm getting mismatches. How do I sort this?

Thanks.

BSpies

q_lurker

1. Backup your file — this gives you a recovery point if the following actions create other problems.
2. Edit Security Details for your Quicken security JPM HDGD EQ1 with (correct) ticker JHEQX and (incorrect) CUSIP 46637K265
3. Uncheck the box for that security that it is Matched with online security (it is currently incorrectly matched, the CUSIP is wrong).
4. Follow my prior suggestion about the Tools / Online Center and Compare to Holding button.
5. After correctly getting the match made, JPM HDGD EQ1 should now have the correct CUSIP.
   1. CORRECTED After correctly getting the match made, JPMorgan Hedged Equity Fund Class R6 should now have the correct CUSIP and JPM HDGD EQ1 should now have a blank CUSIP.
6. From that point, your future downloads from Baird should come in correctly and you will not be getting that "do not match" message.

If I am wrong about step 5 allowing to make a correct association, please post back with whatever options you do get at that time.

Now all that and similar steps with the other pairs of securities should be fine as far as these downloads and mis-matching. It is likely that your cost basis for the new funds is wrong, possibly $0, rather that the basis of the older funds. For some users, that is a problem; for others, it is not either because they rely on their FI for all tax consequences, they don't use Quicken as a tax-planning or monitoring tool, or the accounts are tax deferred where basis and gains are not consequential.

It is for those users who want their Quicken data fully accurate that the Mutual Fund Conversion or similar actions are needed to properly perform this type of conversion. IS THAT YOU? If so, some backtracking may be necessary. If not, move on, nothing else to de.

q_lurker

You are right about Step 5. That step was getting the right CUSIP from JPM HDGD EQ1 to JP Morgan Hedged Equity Fund Class - R6, which apparently you managed. I edited that post to clarify.

In your PDF, you commented about two of your Quicken having the same ticker, JHQRX. That is not a good thing. It may be a result of some prior attempts at this conversion. I agree with your thought to edit the ticker for JPM HDGD EQ1 back to JHEQX to prevent future misinterpretations.

With this resolved in this fashion, I am going to re-edit the topic title back to your original. You were clearly trying to learn about the matching rather than the canned methodology for such conversions.

Tom Young

I'd suggest that you disclose the securities and describe the exact process you went through to get to the place where you believed everything was "sorted" to see if anybody spots something that should have been done differently. But if you're essentially using "downloads" to enter all transactions in the Account and everything is correct as to name, price, shares, basis, etc. then you might be seeing some persistent problem with Quicken's "comparison" process - and I've had that happen in my own file - or some sort of "timing" error, which I've also seen happen. The latter can sometimes be fixed by doing your updates at a different (later) time to allow things to "catch up."

Quicken uses either the Ticker symbol and/or the CUSIP number when it comes to identifying securities for different purposes. You might check to see in the CUSIP numbers are correct.

BSpies

Now we're getting someplace. It looks like the problems arose when several holdings were exchanged for a different class of shares a month or so ago. As I recall it, I was asked if this was a new holding I said yes because it was a different symbol (which I now know was a mistake). The CUSIP for the new class holdings are blank.

How do I recover? When I'm in the Security List, I can't add the CUSIP to the new class of share and I can't delete it & then add it back. Thoughts?

Thanx for the help.

Bob

Tom Young

You can't directly affect the CUSIP as that comes from the broker. To get the correct CUSIP for a security you go to the "Security Detail View" and uncheck the Matched to online security box. You'll be asked at the time of the next download to match the security or securities to a security or securities in Quicken. Make sure to make the correct association(s).

Typically in Quicken when these class changes occur you should use the "Mutual Fund Conversion" action. That will assure the correct number of shares and the correct basis for the new security. Then when Quicken asks about the "new" security you match it with the Quicken security created by the MFC action.

BSpies

Thanks, but . . . in "Security Detail View" I don't see anything slightly resembling matching to online security and I've poked into all the different choices. Also, for future entity class changes I don't see anything in actions even close to "Mutual Fund Conversion." I just checked for updates and I've up to date. I'm running everything locally on my PC if that makes a difference.

Thoughts?

Jim_Harman

From the Security Detail view, click on Other Info. "Matched to online security" is at the bottom.

Go to the account where the security is held, click on the gear at the top right, and select Edit Account Details. Is Single Mutual fund account set to Yes? If so, that will prevent you from doing a mutual fund conversion, because a SMF account can only hold one security. If SMF is Yes, is there a reason that is required? Some mutual fund companies require it, but if this is really a brokerage account, you can set it to No and you will be able to do the conversion.

If it must be set to Yes, please post back for more info.

BSpies

Thanks, Jim. When I go to Edit Account Details, I see no mention of Single Mutual Fund on any of the tabs. I'm using Deluxe Quicken and I see "QWin Premier subscription under your reply. I don't know if that has any significance.

q_lurker

From the Security Detail view, click on Other Info. "Matched to online security" is at the bottom.

From the Security Detail view, click on EDIT DETAILS. "Matched to online security" is at the bottom.

BSpies

OK, I feel like an idiot for not finding "Matched to online security." Sorry.

The boxes for my mutual funds without CUSIP numbers have the Matched to online security are unchecked. Neither doing an account download nor using "Update" from the Security Detail View bring down the CUSIP number

Jim_Harman

If you don't see "Single mutual fund", the account should support multiple securities.

When viewing the account, click on Enter Transactions. Do you see "Mutual Fund Conversion" near the bottom of the list?

To enter the conversion, you should back up your data file just in case, then delete any downloaded transactions associated with this conversion.

Then click on Enter Transactions, pick Mutual Fund Conversion, and enter the requested info. Next to Shares of new, enter the total number of shares of the new fund you received.

The Mutual Fund Conversion preserves the cost basis and holding period of the old fund in the new fund. It will create one Removed transaction for all the shares in the old fund and one Added transaction in the new fund for each tax lot that you held. This may take some time, so be patient!

Note that the Mutual Fund Conversion does not work correctly if you have selected the Use Average Cost option for the old fund. Please post back if this is the case.

BSpies

OK thanks, I see the problem. I've always entered transactions using the next transaction line. If you use the "Enter Transactions" button at the top, you get the Mutual Fund Conversion action. Phew!

Now all I have to do is figure out how to get the CUSIP number associated with 3 of my holdings. "Matched to online security" is unticked but CUSIP doesn't download.

Jim, thanks for the help.

Jim_Harman

I edited my earlier post to include information on entering the mutual fund conversion.

q_lurker

From the beginning:

I exported and compared the holdings from the brokerage and Quicken and they're exactly identical for symbol, quantity and value for each equity. I'm convinced my Quicken holdings are correct but I'm getting mismatches. How do I sort this?

Are you editing downloaded transactions to make the quantities match identically?

Do you have two separate securities in your Quicken Security List (ctrl-y); one old class, one new class? Be sure you are showing hidden securities. Are both those securities unmatched and lacking a CUSIP?

I don’t know how you initially attempted the conversion, but I am suspecting your brokerage version of the new class is not correctly matched to one of your Quicken securities.

Note while @Jim_Harman is leading you on a redo of the conversion I am more just trying to address the question you directly posed. Don’t get too crossed up or confused by our slightly different set of inquiries.

BSpies

To q-Lurker:

I'm not editing the downloaded securities to make them match.

I do have 2 securities (one old and one new) in my list. The new one (the one currently in the brokerage) does not have a CUSIP #, the old one does.

I don't really recall how I initially entered the change. I think I was asked if this was a new security and said it was because it had a new symbol. As I recall the dialog was different than I usually get when there's a new equity from the same family. in the following days/weeks when I got a mismatch warning, I added and deleted holdings to resolve the match and eventually realized I was resolving the issue by just deleting my previous Added and Removed transactions.

I hope this is clear.

Thanks for the help and another approach.

Bob

q_lurker

Try this:

• Tools / Online Center
• Choose Financial Institution
• Choose Holdings tab
• Choose Quicken Account

That should show what your FI shows as the current holdings using the names of the associated Quicken security. Do the correct securities get listed? If you click Compare to Portfolio button, do you get the ‘they are in agreement’ confirmation?

Since I suspect the wrong Quicken security is shown:

• Edit that security’s details and uncheck the box.
• Return to the Online Center and repeat the Compare to Portfolio. I believe you’ll get the chance to reset the match between the FI’s new class security and your Quicken new class security.

Hope this solves it.

Ps56k2

you've still not told us the Symbol/s for these holdings - and the Brokerage -

and it helps to answer each and every question asked - vs 1 out of 4 or more -
as they usually lead to some logical path for a solution …. that we have seen previously -

[edit] - also updated topic title to better reflect the actual issue being discussed

BSpies

Super Heros, thanks for getting me to define, as best I can, the history & current situation so you can better help me.

What happened:

Sept 19 – Brokerage (Robert W. Baird) exchanged the account’s existing holding of JHEQX for the same number of shares of JHQRX. The brokerage transactions called it “Other-shr Class Exch”.

I must have then done something wrong when responding to the Quicken’s requests for action clarification.

I later started getting Shares Reported vs Shares in Quicken mismatches, which I fixed with Added & Removed transactions.

Then, when a new transaction came into the account, I’d get another mismatch warning and could be fixed by deleting the transactions that previously fixed the mismatch.

Current situation:

My Quicken holdings exactly match my brokerage holdings for JHQRX for number of shares and price.

However, I have a mismatch reported even though the symbol, price & number of shares match (See attached)

The Security List looks like the following but please note the CUSIP shown for JHEQX is really the CUSIP for JHQRX ( (See attached)

Quicken Community Help.pdf

There are actually 2 other equities involved and 2 other accounts where similar things happened (JCVIX replaced by JCVWX and HPLIX replaced by JCPUX)

I now know the action I should have taken was a Mutual Fund Conversion. Better yet, whenever there's anything besides a Div, Int or ReInv, check my brokerage portal to see what's going on.

I do not know how to recover

Thanks again, much appreciated

Bob

q_lurker

1. Backup your file — this gives you a recovery point if the following actions create other problems.
2. Edit Security Details for your Quicken security JPM HDGD EQ1 with (correct) ticker JHEQX and (incorrect) CUSIP 46637K265
3. Uncheck the box for that security that it is Matched with online security (it is currently incorrectly matched, the CUSIP is wrong).
4. Follow my prior suggestion about the Tools / Online Center and Compare to Holding button.
5. After correctly getting the match made, JPM HDGD EQ1 should now have the correct CUSIP.
   1. CORRECTED After correctly getting the match made, JPMorgan Hedged Equity Fund Class R6 should now have the correct CUSIP and JPM HDGD EQ1 should now have a blank CUSIP.
6. From that point, your future downloads from Baird should come in correctly and you will not be getting that "do not match" message.

If I am wrong about step 5 allowing to make a correct association, please post back with whatever options you do get at that time.

Now all that and similar steps with the other pairs of securities should be fine as far as these downloads and mis-matching. It is likely that your cost basis for the new funds is wrong, possibly $0, rather that the basis of the older funds. For some users, that is a problem; for others, it is not either because they rely on their FI for all tax consequences, they don't use Quicken as a tax-planning or monitoring tool, or the accounts are tax deferred where basis and gains are not consequential.

It is for those users who want their Quicken data fully accurate that the Mutual Fund Conversion or similar actions are needed to properly perform this type of conversion. IS THAT YOU? If so, some backtracking may be necessary. If not, move on, nothing else to de.

BSpies

This sorted the problem. I took some screen prints & made some comments. I think you have step 5 with the wrong equity name. You have the name of the original class name. See attached.

Quicken Community Help (1).pdf

Fortunately, I'm not worried about the price history and not even interested in checking on it..

I fixed all my problem holdings and all the accounts. Thanks to you and everybody else who pitched. You folks are the best.

q_lurker

You are right about Step 5. That step was getting the right CUSIP from JPM HDGD EQ1 to JP Morgan Hedged Equity Fund Class - R6, which apparently you managed. I edited that post to clarify.

In your PDF, you commented about two of your Quicken having the same ticker, JHQRX. That is not a good thing. It may be a result of some prior attempts at this conversion. I agree with your thought to edit the ticker for JPM HDGD EQ1 back to JHEQX to prevent future misinterpretations.

With this resolved in this fashion, I am going to re-edit the topic title back to your original. You were clearly trying to learn about the matching rather than the canned methodology for such conversions.