Why are bonds reported as unclassified investments

jsattenspiel

I have many corporate bonds in my investment account which have been entered correctly and when examined as individual investments they are reported as entered as "Bonds", subtype "Corporate Bonds". However when I generate an asset allocation report, they are all reported as unclassified??? How can I correct this error?

CaliQkn

@jsattenspiel The allocation reports use Asset Class for reporting. The "Bond" is Security Type. Go to your Security List and look at the Asset Class column see if it indicates "unclassified". If so, update to the appropriate asset class and rerun the report.

jsattenspiel

Thanks for the suggestion. In all these cases the 'security' is listed as a bond, but categorized as unclassified. This fix works, but the error is that Quicken fails to properly recognize that securities with 'Type' = Bond should be recognized as 'Asset Class" = Bonds

Jim_Harman

In R62.16, when I add a bond to the security list, you have the opportunity to specify the asset class. For a bond, the default is "Domestic bonds"; there is no default class of "Bonds". Is that a custom class that you created?

This may be a recent change; I don't know how yours would get set to Unclassified. Perhaps if the bond was added as part of a download after you purchased it, you did not have the opportunity to specify the asset class.

jsattenspiel

I too am using R62.16 and I do indeed add the bonds automatically on download of the purchase transaction as a new holding. I do not recall ever seeing the dialog box you reference, but will look for it in the future. Are you manually entering each bond when purchased?

Jim_Harman

 Are you manually entering each bond when purchased?

That is what I did just now for the test. Either going to Tools > Security List and clicking on Add Security or clicking on Add security while manually entering a Bought transaction for a new security will lead you to the dialog above.

CaliQkn

@jsattenspiel did you at one point in time restore the file from a backup, or make a copy of the file with the File-Copy process? If so, I have found that doing so can cause the Asset Class to revert to "Unclassified". What is worse is that if you have an allocation that is a mixture, you lose all of your split allocation percentages.

And what is even more worse is that if it is an old fund, the Asset Class reverts to "Unclassified" and you loose your allocation splits and they are no longer downloadable. All that historical information is lost.

CaliQkn

I've even gone as far as create an account on Quicken with this information so that if it is lost, I can manually get it back into Quicken if an when needed. Each time a new security is added to Quicken, I update this information.

jsattenspiel

Thanks for the info CaliQkn, some helpful tips noted.