did Vanguard Admiral share conversion and downloaded goofy transaction.

Question

Using Windows Premier. Just downloaded transaction for share conversion from investor to admiral share class. The download triggered a security name lookup dialogue box which was not a problem. The investment total amount was about what I expected- more importantly, it was the same for the outgoing and incoming securities. What is goofy is that the new admiral shares are not listed in the account holdings and the old invewstor shares are still there.

The transaction downloaded as a 'withdrawal' of the NEW security for $55xxx.xx cash and a 'deposit' of cash for the same amount. There is no change to the account holdings.

I have the printout from Vanguard of this activity with the share totals. What to do?

My email is [email removed - privacy]   Gary

corndog638 · Answer

Okay, I was able to find Mutual fund conversion as an Investment transaction type in the drop-down box. The security name and properties were gathered when the Vanguard download was processed earlier today, however no price per share was stated. I entered a price to four decimal places and once I pressed enter, the computer took the time to generate correct transactions. Every thing seems fine now.

Thanks for the help. Gary

NotACPA · Answer

First off, where are you seeing the erroneous account holding?  In the Portfolio view?  If so, have you clicked "Customize" on the top line and then the Securities tab to make sure that the Admiral shares are selected for inclusion?

Have you checked the Options button to the right of the top line to make sure that "Show Closed Lots" isn't checked?

And, I'd suggest that you first take a backup and then:

* Delete whatever was downloaded (security and cash) re: this transaction
* Click Enter Transactions at the top of the Register and scroll down to "Mutual Fund Conversion" to input the correct transaction.
* If you don't have that action (I can't remember if it's in Premier), you can use "Corporate Acquisition (stock for stock)" to have the Admiral shares/company "acquire" the Investor shares.  You might need to create the Admiral "company" 1st for this to happen.

q_lurker · Answer

What I would do -

* Backup the current data file just in case
* Delete any downloaded transactions related to this conversion or restore a different backup from prior to the conversion
* Review the Security list (Ctrl-y) to make sure the Admiral class security exists in your Quicken file with a distinct name and correct ticker
* From the account transaction list, enter transactions button, select mutual fund conversion, and fill in the appropriate data.

The program will generate one Remove Shares for the Investor class security and multiple Add Shares of the Admiral class security for each lot converted.  This then maintains the proper cost basis and acquisition dates for each lot.

Now review the cost basis information for the Admiral shares  There had been a bug for that data and I don’t recall if it was fixed yet.