Where is Average cost for Mutual Funds on Quicken for Mac

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Quicken for Windows has had an Average Cost option for as long as I can remember. When I converted to the Mac Version, I was forced to set up an Excel file to track average cost. Where does Average Cost stand in the features being considered for the Mac version of Quicken.

Average cost should be there as it is the typical default cost basis for most mutual funds.

Answers

  • Jon
    Jon SuperUser, Mac Beta Beta
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    It's being considered. You should add your vote to this suggestion for additional cost basis options & post in the thread that you're looking for average cost basis:

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    For years, this missing functionality has been near the top of my list of major Quicken Mac shortcomings. I just don't think the development team understands how many users are affected: all Canadian users, who must use average cost basis and any US user who holds mutual funds which default to average cost basis. (Vanguard, for instane uses ACB unless you designate otherwise.)

    I cannot use Quicken's Tax Report or other reports about my capital gains because Quicken Mac doesn't support this basic, fundamental tool for investment tracking. After tracking by individual lots was added many years back, I was sure this would follow shortly thereafter, but it's never been implemented. It's a simple calculation (divide total dollars invested by the number of shares owned), so it would be easy for the developers to implement. In fact, the Portfolio's Portfolio Value filter shows Average Cost per Share — so the calculation is actually already done, but they just haven't implemented a way to specify ACB when selling shares of a security. It's a stupid and highly annoying omission. Fortunately brokerages report it correctly on 1099s.

    Quicken Mac Subscription • Quicken user since 1993
  • boytomaui
    boytomaui Member ✭✭
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    I agree with everything you have said. It's the one feature I miss about the Windows version that I used for years.

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    I've been quite surprised that the request for this investment feature, which was linked above, hasn't gained a lot more votes than it has.

    That Idea thread was started more than 6 years ago, and only 58 users have voted for it. Perhaps if more people added their vote, it would move higher up the developers' priority list.

    Quicken Mac Subscription • Quicken user since 1993