Quicken and Stock Splits

baddabing

Quicken never gets the stock splits correct. I have to manually delete the stock split and the add then adjust for the correct shares.

Anyone have this issue?

Quicken Jasmine

Hello @baddabing,

Which stock split are you referring to?

Let me know!

baddabing

Chimera CIM May 22 Reverse split 3-2

NotACPA

What brokerage do you use? And what's the connection method to them (Direct connect, etc.)?

And, in what specific way is it incorrect?

baddabing

Fidelity …hard wired connection …it show 2 transactions …..#1 bought 66 shares #2 Stock split 33 shares ….. I had 200 shares in CIM.

NotACPA

It wasn't a 2 for 3 split … per Fidelity's website it was a 1 for 3 …. so 66 is the correct number of resulting shares.

baddabing

I agree 66 is correct but Quicken recorded both the 66 & 33. The 66 was recorded as "Bought" and the 33 as a "stock split." To correct it, I had to delete the 33. Quicken can't record stock splits correctly.

NotACPA

You've never responded as to HOW you're downloading from Fido. IF "Direct Connect", which I suspect, then Fido is SOLELY RESPONSIBLE for the content of the download.

I wouldn't want, and I doubt anyone would want, Q mucking around with what the FI's download.

baddabing

I'm sorry, I down understand what you mean by "direct" connect. I do the 'one step' download.

NotACPA

Pleas do TOOLS, Account List. What's shown in the "Transaction Download" column adjacent to the account?

One Step Update is a means of initiating the downloads …. but the actual download method is either:

Direct Connect (where the FI is solely responsible for the content) OR
Express Web Connect and Express Web Connect+ (where Q/Intuit "screen scrape" the website for the info, but the FI is responsible for notifying Q/Intuit of any website changes), OR
Web Connect (where you initiate the download from the FI's website, but they're still responsible for the content).

baddabing

There isn't any "trans Dwld" column in the Account List. However is I go to 'edit' next to 'fidelity' and the go to the 'online services' tab, it say 'download directly from financial instit' …..there a 'set up' I have used that before and get the same results as the one step.

NotACPA

You don't have a "Transaction Download" column? What Q product are you running? Do HELP, About Quicken for this info.

Are you downloading from ANY FIs into Q?

baddabing

I upgraded to R57.12 from R56.9 and the result is the same …… there's: acct name/Last Download/Financial Inst/last reconcile/end bal

NotACPA

And, the Q product that you're running is??? Is there anything in the "Last Download" column, especially for the Fidelity account(s)? And, I just realized that "Transaction Download" and "Financial Institution" are options that you can turn on via the OPTIONS button at the bottom of that Account List.

SO, in addition to Transaction Download, which name are you using for Fidelity …. it has several.

baddabing

I'm using Q Classic Deluxe ….. I found the Option tab and added Transactions Download ….. Next to Fidelity "No Activate Download" "Last Download" Shows "Not Available" The Name I use for Fidelity is what I named the account. I don't see how changing how the download method will change the result?

NotACPA

Again, Fidelity has multiple names in Q. What name shows in the "Financial Institution" column? Different names have different abilities.

And, right now, there's NO download from Fidelity into the account. You said so yourself "No, Activate Download". So I fail to see how your split transaction came it. Did you recently deactivate that download?

baddabing

Fidelity Investments is the name that appears …..sorry i thought you meant the name I gave it. I download at the end of the month, I did it on May 31 & June 1. No idea why it doesn't show

baddabing

Maybe it doesn't show because after the 1 step is complete, the LINK with Fid is disconnected?

baddabing

OK I went through the process of connecting the account and now it show today as the last downl and shows a DIRECT connection.

Steve Roberts

I am also experiencing a problem due to a stock split, although not the same problem. After downloading transactions post split, from the brokerage account, the split was registered correctly by the data feed. However, pre split calculations in the portfolio are incorrect. Because if I click on the portfolio view in the Investing tab, selecting an "as of" date prior the split, it shows the pre split count for shares held but their value in the price column is split adjusted. This provides a lower value for the security than what it should be.

As an aside, I discovered this accidentally when I was trying to get a handle on my week's return. I looked at portfolio value for the Friday post split and the Friday pre split. The pre split value was significantly lower than what I expected. That's when I found that portfolio view shows older number of shares, but its value is computed at split adjusted prices.

Can someone please help if there is a fix for this, or do I need to open it up as a bug?

baddabing

I'm sorry I can't help you. My problem was with a REVERSE Split. I found it was much easier to delete it and enter it manually, Quicken support leaves a lot to be desired,

mingum

Stock splits are often imported incorrectly from Shwab.

1 - if there was stock bought on the same day as the split it ignores that purchase when calculating the split so if I backdated the purchase by 1 day the ratio calculated correctly but now the purchase date it wrong.

2 - Maybe that Schwab reports the total new shares and not the ratio which is what Quicken wants.

3 - I wish the screen instructed to put in the ratio rather than "old shares" and "new shares" which doesn't properly explain how to enter the transaction.

baddabing

Tks but not really the answer.

donpjr

I have issues with stock splits and it's been like it forever. I use the subscription Quicken on Windows. Fidelity accounts are Direct Connect downloads and typically I see a stock split recorded first as a stock split and the calculation is correct. A couple of days later new shares are added to the accounts which effectively doubles the stock split. On the days of the stock splits/add shares entries, the total gain/loss for the day is incorrect in the investment summary report as it sees the stock split as a massive gain for that day. It disappears the next day and the totals are correct (only the day gain is incorrect) so I live with it. I haven't been able to solve the stock split issue so I simply delete the second "shares added" transaction and all is well. No big deal but I would be happy to find a solution to avoid this extra step. Is it related to the "direct connect" download? I notice my Schwaub accounts are set up as Express Web + download. I don't have any stock splits in that account so don't know how it works.

q_lurker

Is it related to the "direct connect" download? I notice my Schwaub accounts are set up as Express Web + download. I don't have any stock splits in that account so don't know how it works.

I can't say it is direct connect or EWC+ related, but I will say it is download related and FI related. There may be rare specific cases where Add Shares (and a Remove Shares) might be technically appropriate, but in almost all cases, I'd suggest just deleting the offered Add Shares download transaction.