Fix share transfer function?
I transferred all the shares for 8 mutual funds from one account to brand new account - basically closing one account and transferring all assets to the new account at the same institution as the account number was changing and it was changing from single to joint ownership and I wanted to keep record of the changes. I don't know if it happens for non-mutual fund securities.
Running a portfolio value report for the day before and day after the transfer, I found that of the 8 securities, and ACB of 7 of them changed during the "transfer" - ranging from a $31.87 decrease to a $22.80 increase. I searched this forum afterwards, I find that "this happens" in the Canadian version of Quicken. It would have been nice to see a warning about that when I went to transfer those shares.
Looking at all the transfer transactions, it looks like for each past transaction in the old account, Quicken is using the same average cost for the new account rather than the actual cost from the original transaction. I am not sure why that would be done - but it ends up changing the ACB which makes no sense to me in a transfer.
I ended up using a solution I found on this forum to fix it - I edited one of the transfer transactions for each security to make the ending ACB match what it was in the originating account.
If the function can't be fixed - at least a warning might be helpful.
