How to restructure investment account with proper currency - US vs CAD (edit)

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Rambler444
Rambler444 Member ✭✭
edited May 19 in Investing (Windows)

Historically, I created investment US accounts in Canadian currency - Within these accounts I have created US securities in Canadian currency. I would like to change that to have the accounts and the securities to be properly reflected in US currency. I can easily create new investment accounts in US currency, however Quicken does not allow changing the currency of the sercurities after they have been created. Any thoughts on how to do this would be greatly appreciated.

Mario

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    You can't, as you've discovered, change the currency of an account after it's been created.

    You'll need to create a new, USD investment account. And, if you hold CAD investments also, that's still a separate account.

    Q can only hold a single currency in an account.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
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    just for clarification - which Quicken version are you using - US or Canadian ?

  • Rambler444
    Rambler444 Member ✭✭
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    I am using Canadian Edition R54.17

    Hi NotACPA - I am aware that I can create new accounts in their corresponding currency. The problem is how to change the existing securities' to the proper currency.

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
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    @Rambler444 - btw - if using the Canadian version, you might edit your Profile to reflect that Quicken selection

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    The only option that occurs to me is to "Remove - Shares Removed" the improperly denominated securities, and "Add - Shares Added" the securities in the proper account.

    Those actions won't create Capital Gains/Losses … but you'll need to pay close attention to the transaction dates and amounts for the new Lots created.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP