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I have Quicken that I pay annually for. A bank sends me a statement. Example: A stock has a dividend

Dennis Graver

Win 11, Enterprise, V R58.9, Build 27.158.9

I have Quicken that I pay annually for.
A bank sends me a statement.
Example: A stock has a dividend and the dividend is used to buy more of the same stock.
In Quicken I use reinvest div.
I enter the Div. and the quantity bought - BUT - the dividend is still listed under cash bal and my quicken doesn't match the statement.
How should I be entering the transaction?

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Accepted answers

Boatnmaniac

When manually entering a dividend reinvestment into the account register, either enter either:

An Inc - Income (Div, Int, etc) transaction for the Dividend received followed by a Buy - Shares Bought transaction (make sure the cash for this transaction is pulled from the account's cash balance) for the reinvestment.
OR, enter a Reinvest-Income Reinvested transaction which will be a single transaction for both the dividend payout and the reinvestment.

Do either #1 or #2. Do not do both #1 and #2 nor any combination of them.

All comments

NotACPA

Are you downloading into this account from your brokerage? Are you using QWeb or QMobile?

When you do EDIT, Preferences, Investments … is "Show Hidden Transactions" checked?

Because _ReinvDiv should be removing the cash from the account .. so something else is going on.

q_lurker

Are you entering these transaction manually, that is not getting them downloaded electronically from the bank or brokerage into your file? Your language in your post suggests manual entries.

As a manual entry, all you need is the reinvest dividend action where you supply the number of shares and the total dividend value. I suppose the bank/brokerage might list a separate Div and ReinvDiv transactions, but you should not do so.

Alternatively, you could enter a cash dividend received followed by a separate buy shares with no separate ReinvDiv transaction.

Boatnmaniac

When manually entering a dividend reinvestment into the account register, either enter either:

An Inc - Income (Div, Int, etc) transaction for the Dividend received followed by a Buy - Shares Bought transaction (make sure the cash for this transaction is pulled from the account's cash balance) for the reinvestment.
OR, enter a Reinvest-Income Reinvested transaction which will be a single transaction for both the dividend payout and the reinvestment.

Do either #1 or #2. Do not do both #1 and #2 nor any combination of them.

Dennis Graver

I use REINVEST-INCOME REINVESTED. Example: date, Symbol of stock, Div amount. Quantity.

I enter date, Symbol, amount, and Quantity. That should replace the amount with the with the shares and the cash should vanish. If the cash was $200 I have the correct amount of chares but still have the cash showing and that is the amount the Quicken account doesn't balance.

q_lurker

How does the $200 get into the account as cash?

The ReinvDiv transaction should not and does not change anything in the cash account of the account.

Dennis Graver

I just fixed one account. June statement had a PENDING DIVIDEND but I entered it in June then it showed up again in July and I entered it again.

Thanks again

Denny

Boatnmaniac

I agree with @q_lurker. The ReinvDiv transaction is a cash transparent transaction. It simply pulls the cash from the dividend that was received directly into a buy transaction. It will not deposit any cash into the account nor will it pull any cash out of the account's cash balance.

Pointing back to my previous post: Do either #1 or #2. Do not do both nor do any mix of both. Only do #1 or only do #2. Then you will not have this issue.