Issue regarding downloading CD transactions from Merrill Lynch

RayZizik

—CD Purchase from ML downloaded on trade day as a "buy bond" for 220 shares and then added a placeholder transaction "remove shares " removing the 220 shares thereby showing 0 shares in the portfolio. (BTW the placeholder transaction was entered with the oldest date thereby placing it out of sight at the bottom of the transactions list)

—2 days later same CD purchase downloaded as a "buy" of 220 shares and added the shares to the portfolio.

Worked around the problem by deleting both the provisional transaction and the "buy" transaction leaving the "buy bond" transaction in tact.

I don't know if this is a Quicken issue or ML issue, but it should be resolved to yield one simple "buy bond" transaction.

jacobs

It sounds like ML downloaded the transaction on both the transaction date and the settlement date, which are typically a few days apart. The first transaction downloaded, but the balance reported by ML to Quicken was zero, so Quicken dutifully recorded the transaction and proceeded to then zero it out to make the balance match what ML was reporting. On the second date, the transaction downloaded properly, and matched the balance ML now reported, so all was well. I'm not sure there's any way Quicken could prevent this if that's what ML downloaded. And what you did — deleting the offsetting first Buy and placeholder Remove Shares transactions — is about all you could do to keep things cleaned up.

RayZizik

Thanks for your response .Yes, I can understand how that happened. I question however why they would categorize the trade day action as "buy bonds" which I believe is the correct way for CD's to be handled, but then the 2nd download action was "buy" treating it as a stock purchase.