Request to add CUSIP to Securities (edit back)
Please add CUSIPs to securities that are in Quicken's database of securities and/or allow users to add them by hand. This comes up with "Add Security" CTRL-Y ALT-A.
Presently, the only way to get CUSIPs in securities is through download from a broker. This causes a headache when names are not exactly the same. Please see:
Comments
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I think there is some basic confusion here.
When you say "Quicken database", that is the online database of securities that Quicken uses when you add a security to your file, right? When you add a security, Quicken adds a name and ticker symbol to your Security List. If the security is found in the online database, it uses that name. The CUSIP ID is intentionally not added at that time.
Quicken uses the ticker symbol to retrieve quote data. This is different from downloading transactions from a financial institution (FI).
When you download a transaction, Quicken uses the CUSIP ID in the download to look for a matching security in your list. The name in the transaction download may be different from the one in your Security list. If no matching CUSIP ID is found, it displays a dialog suggesting a match based on the name and also allowing you to select another unmatched security or add the security to you file. You must make the correct choice when you see this dialog or you may end up with mismatched securities. When you agree to the match, the CUSIP ID is added to the security in Quicken.
Quicken uses the presence of a CUSIP ID for a security in the Security List to indicate that that security is matched to a downloaded one.
How would your proposal improve this process?
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Jim Harmans: Thanks for the response.
»When you say "Quicken database", that is the online database of
securities that Quicken uses when you add a security to your file,
right?«
Yes.»Quicken uses the ticker symbol to retrieve quote data. This is different
from downloading transactions from a financial institution (FI).«
Indeed.
»When you download a transaction, Quicken uses the CUSIP ID in the
download to look for a matching security in your list. The name in the
transaction download may be different from the one in your Security
list. «
Yes. That is the problem. Quicken's name is often different than those of Fidelity. (Fidelity seems to like slightly abbreviated names compared to those provided to the SEC.) When I import from a QIF file, if the ticker symbol is the same and it is the same security but the name is slightly different (or was changed by the institution)—as I mention in the discussion I referenced about discrepancies—Quicken ends up making a separate securities with the same ticker symbol, and my transactions are not merged, but put into these two separate different securities, when, in fact, they are the same security.
I have found no easy way to merge the two securities into one. I have spent hours having to undo QIF imports to try to figure out why the names are different, find the best and latest name, and to correct the files that have a name different than the "best name." I wish Quicken would notice the names are different and act appropriately to address the problem and make it easy to correct if there are two separate securities that should be merged.
» If no matching CUSIP ID is found, it displays a dialog suggesting a
match based on the name and also allowing you to select another
unmatched security or add the security to you file. «
I have never seen this dialogue box for QIF imports or QXF imports. That would be really helpful! I hope this feature is added.
»Quicken uses the presence of a CUSIP ID for a security in the Security
List to indicate that that security is matched to a downloaded one.«
For me it functions just the opposite: It guarantees that securities with nearly identical names are NOT matched, because there is no CUSIP to match them. Why not include the CUSIP in the online database, so that users know exactly what security they selected?
Quicken already indicates whether a security is matched online with the checkbox "Matched with security online." So I don't see any advantage to using the presence or absence of the CUSIP to indicate that. As a user, I never assumed the CUSIP was meant to communicate that—although I vaguely recall that I might have read that somewhere. After a while, I did figure out that since it was impossible to add a CUSIP myself from the "add security" online database or by hand, it had to have come from the financial institution. Still, the "matched online" checkbox is really all that is necessary. IMHO.
»How would your proposal improve this process?«
Any of these would have made the process much easier:
(1) Provide the dialogue box you mentioned for importing QIF files.
(2) Add the CUSIP to the online database.
(3) Allow users to add the CUSIP to securities entered by hand.
(4) Make a function to merge two securities into one. It could be similar to re-categorize function or move transactions function.
(5) Provide an option to export investment transactions to QFX (the way ImportQIF does). Then a user could possibly add the CUSIP to the text file, because there is no provision for CUSIP in QIF files.
(6) Provide a way to import a security list with CUSIPs that is in text form.
Thanks for considering this.0 -
I think the issue is with QIF imports. The behavior I described applies to Direct Connect downloads.
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So this is a QIF discussion - and not really a CUSIP discussion ….
Will update the title to reflect the actual discussion --1 -
I think #3 would have the widest appeal.
#4 is "interesting", but I wonder how many people would try to misuse it when their security was changed to a something different as happens from time to time.
I think #1 is dead in the water, for the simple fact that Quicken Inc doesn't really want to support QIF, and for the fact that if you have prompt on every "add" of a security then exporting and importing to fix an account this would get in the way.
#5 is going to be dead in the water too.
The others are "nice to have", which probably means they aren't going to be implemented. You will be lucky to get the minimum.
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and the initial discussion -
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Ps56k2:
Thanks for looking at the thread. No. This is not simply about QIF. The problem also occurs with QXF export/imports. And, more importantly, CUSIPs are more robust than ticker symbols with regard to unique identification of securities beyond publicly-traded stocks, such as mutual funds and privately held securities.
Being able to input a CUSIP to a security found on a statement and/or matching it with a fund found in Quicken's online database of securities would help assure I am working with the right security. This goes beyond downloads, because downloads only typically go back 90 days. I have statements from 20 years ago. So do a number of others who have posted to this forum.
Having the CUSIP correct when I enter old statements will help assure that I have the right security if I later try to do a download. Waiting until I do a download from the financial institution to assign the CUSIP makes no sense to me.
Can you please change back the title to what it was originally? I believe it was something like, "Request to add CUSIPs." Another appropriate title might be "Please add more support for CUSIPs."
Thank you.
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I changed it - but still see it as a QIF Import issue - potentially resolved with the addition of CUSIP
I tried to find a QIF export from my brokerages - even Fidelity - and could only find CSV - and no export had CUSIP, only ticker
All of my tickers have CUSIP, since they all have resulted from online watchlist or downloads - except for the companies that went away or were acquired/merged with other companies….
I don't have any historical non-online generated data that I would like to import, so the scenario is somewhat foreign to me.Run Date Action Symbol Security Description Security Type Quantity Price ($)
01/31/2024 REINVESTMENT FIDELITY TOTAL BOND (FTBFX) (Cash) FTBFX FIDELITY TOTAL BOND Cash 6.64 9.56
01/31/2024 DIVIDEND RECEIVED FIDELITY TOTAL BOND (FTBFX) (Cash) FTBFX FIDELITY TOTAL BOND Cash 0Yes. That is the problem. Quicken's name is often different than those of Fidelity. (Fidelity seems to like slightly abbreviated names compared to those provided to the SEC.) When I import from a QIF file, if the ticker symbol is the same and it is the same security but the name is slightly different (or was changed by the institution)—as I mention in the discussion I referenced about discrepancies—Quicken ends up making a separate securities with the same ticker symbol, and my transactions are not merged, but put into these two separate different securities, when, in fact, they are the same security.
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»I changed it - but still see it as a QIF Import issue - potentially resolved with the addition of CUSIP «
I disagree. The problem is also caused in QXF and QFX files too. The problem is also caused when there are no imports at all—for example, when the name on the Financial Institution (e.g. Fidelity) statement does not exactly match the name of that security in Quicken's online database—it is not clear which security is being referred to and we end up with two different securities, possibly with the same ticker symbol. The ticker symbol is not sufficient. If we have the CUSIP, we know we have the right security.
»I tried to find a QIF export from my brokerages - even Fidelity - and
could only find CSV - and no export had CUSIP, only ticker «
Exactly. The bigger problem is that Quicken does not support CSV. I called long ago and asked for CSV support and I was told, "Quicken does not support that." It should, as has been reported many times on this forum. See two example posts below.
One of the main reasons I am even using QIF is because Quicken does not support CSV. Instead, I have had to use the program ImportQIF so kindly maintained by user Chris_QPW for free who is in this discussion. Thank you Chris for doing this! I import the CSV into Chris's program and then import that into Quicken from QIF. That program also supports QFX, so that is also another option.
What do you do when you have CSV investment files to import into Quicken? I have also used Money Manger Ex for bank statements, which works fine. But Money Manger Ex's investment functionality is less robust that ImportQIF. There are pay-to-play tools to do this. I find it ridiculous to have to pay for that when it should be part of Quicken. I am not alone. (See first example post below.)0 -
I sent this report:
Please change title back to "Request to add CUSIP to Securities". Two of the three people responding mistakenly believe this is primarily a QIF issue--It is not. CUSIPs are important in uniquely identifying a security in Quicken. The ticker symbol and security name are not sufficient. You cannot add a CUSIP by hand and you cannot add them by selecting a security with "Add Security" and selecting a security from Quicken's online database. Quicken's online database should have the CUSIP. I have explained it repeatedly, yet the title keeps having QIF added. Perhaps I need to start a new topic with the correct title so the discussion is back on track?0 -
done - and I’m gone
good luck with your quest
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Thanks!
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In my opinion, there is virtually no chance Quicken will make the change you request: too few benefits/beneficiaries for the cost.
I'm not sure I understand everything you have already tried, but it seems to me there is already a fairly simple approach available.
The simplest approach I can think of is to modify the security names in either file so the names are the same in both files. Then the QIF import should succeed; and once the import is complete, you can change the security names to any name you prefer.
[Since you asked about exporting/importing the Security List using QXF, I did a few tests. While I believe it may be possible (it's definitely possible to use QXF to export/import a Security List), I think there are enough complications to make it a poor approach.]
[NOTE: you do not need to accept Quicken's offer of a security name when you use the Add Security dialog, you can use any name you like. See the "Click here" link at the foot of the initial Add Security dialog box.]-JP
Quicken user since Q1999. Currently using QW2017.
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One significant improvement would be for Quicken to update (both current and historical) security prices for instruments such as corporate bonds, which have unique cusip numbers but no standard ticker symbol. Databases with this information exist (ex., finra.org and macroaxis.com) but Quicken does not utilize them when collecting prices.
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If the name the broker assigns is different than the name Quicken assigns the system default is to set up an additional security creating incorrect share values distributed over two different securities. The only work around to correct this is to edit every transaction of one of the securities to match the other security. This is very time consuming, and doesn't address future downloads. If the user could add a CUSIP and have the system look to that number rather than the name these discrepancies would not happen.
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