mutual fund investment manual adjustment
I use Quicken Classic Business and Personal for Windows version R54.16 to track my personal and business finances. I have a one SEP retirement account with a brokerage firm which includes 5 different mutual funds. I use Quicken’s one-step update to download activities from all 5 mutual funds in my brokerage account.
Sometimes I have to manually adjust the values of individual mutual funds in Quicken to match my brokerage account. My question is how can I manually adjust the balance in an individual mutual fund in and how should I categorize the adjustment?
Best Answers
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@Grandaddy42 It sounds like the Simple Tracking Method might work best for you. Take a look at "Tracking Method" on the General tab of Account Details. Which option is currently selected? If it is Simple Tracking, then I think all you need to do is click on the security name and it should give you several options to edit or adjust the security, including balance.
If the current tracking method is Complete, then I think to switch over to Simple Tracking all you would need to do is select "Simple - Positions Only". This of course is your preference. But if I am hearing you correctly, Simple Tracking sounds like a good fit for you.
Before you make this change, please make a backup of your data file, just in case.
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Thanks -That sounds like what I need, since it is a tax-deferred SEP mutual fund retirement account that I don't receive any income from other than my annual RMD.
I'll run a full backup and give it a try.
Thanks again!
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That worked, thanks again for your help!
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Answers
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@Grandaddy42 - it depends on what type of adjustment you are trying to make. The most important thing is to make sure the shares match. You can confirm this by doing a "Reconcile Shares" in your register menu (the gear icon in the upper right of your register). If your market values don't match, that could simply be rounding if the adjustments are small. If your market value differences are larger, then it could be a pricing issue.
Please provide some details so we can determine where the adjustment should be made and how.
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Thanks for your response.
My investment account is set up in Quicken as a tax deferred brokerage account and online transaction download. There's a checkbox named "Reconcile using online balance" on the Account + Online Service tab which is not checked and I have never used.
I don't need to track every detail of each mutual fund. I just want to be able to make some kind of adjustment on the total so that the total amount in my quicken investment account matches the total in my brokerage account.
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@Grandaddy42 It sounds like the Simple Tracking Method might work best for you. Take a look at "Tracking Method" on the General tab of Account Details. Which option is currently selected? If it is Simple Tracking, then I think all you need to do is click on the security name and it should give you several options to edit or adjust the security, including balance.
If the current tracking method is Complete, then I think to switch over to Simple Tracking all you would need to do is select "Simple - Positions Only". This of course is your preference. But if I am hearing you correctly, Simple Tracking sounds like a good fit for you.
Before you make this change, please make a backup of your data file, just in case.
0 -
Thanks -That sounds like what I need, since it is a tax-deferred SEP mutual fund retirement account that I don't receive any income from other than my annual RMD.
I'll run a full backup and give it a try.
Thanks again!
0 -
That worked, thanks again for your help!
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