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Edit/Override security CUSIP ID

Jeremy Kruse

Windows R64.23 - Problem seemed to start after the change to the connection to Merrill.

Some securities have the incorrect CUSIP. Looking for a way to edit the CUSIP ID. Several common securities are incorrect, this is just one of them.

I've tried the obvious things like "Edit". I tried adding the security manually but it still shows the incorrect CUSIP. Because the CUSIP doesn't match the entry in the register is "Unidentified Security."

I usually have one or two of these every morning. Thanks in advance to anyone who can help.

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Comments

Jim_Harman

[edit to add another possibility]

Is this a 401(k) account? Sometimes these accounts have private versions of popular funds. These will have some variation on the fund's name, often including "Trust." These funds will generally have a different share price than the publicly traded fund, will have a different CUSIP ID when downloading, and will not have a ticker symbol. In this case, you should create separate securities for these funds and not try to match the downloads to the publicly traded version of the fund.

Background:

[end of edit]

Quicken uses the CUSIP ID to match securities in its Security List to downloaded investing transactions.

When you manually set up a security in Quicken, it gets a name and optionally a ticker symbol but not a CUSIP number. Its Matched to online security box will not be checked.

Downloaded investing transactions include a security name and a CUSIP ID. If the CUSIP ID matches the ID of an existing security, Quicken records the transaction for that security. If no matching security is found, Quicken compares the name to the securities in your file that don't have the Matched to online box checked. It proposes a match based on the name. This is just a guess; it is your responsibility to confirm that the match is correct, select a different security, or create a new one. When you confirm the match, it marks the security as Matched to online and records the CUSIP ID. It uses this ID for future downloads.

This process is what lets the quote provider and different FIs use different variations on security names and lets you give the securities in your file names that are convenient and meaningful to you rather than the downloaded name.

Ticker symbols are only used by Quicken's quote provider to provide updated prices and quote information, not for matching to downloaded transactions.

Correcting mismatches:

If you make a mistake on the first download, you will end up with a mismatched security. To clear mismatches:

Go to Tools > Security List, find the mismatched security in question and click on it.
The Security Detail View window opens. Click the button "Edit Details" in the middle left of the window.
The Edit Security Details window opens. Uncheck the "Matched with Online Security" box.

The next time that security is referenced in a download, you'll get the dialog mentioned above asking how to match it or create a new security. Be sure to answer this correctly. This will record the security's CUSIP ID and check the "Matched to Online Security" box in the Security Details.

This will correct downloads going forward, but to correct previous incorrect entries, you must change any incorrect security names.

Back up your data in case something goes wrong.
Go to Edit > Preferences > Keyboard mappings and select Windows standard if it is not already selected
Click on the Security header in the account’s Transaction List (Register) to sort them by name.
Correct one of the incorrect names, then highlight the corrected name and hit Ctrl-C
Save the edited transaction.
Select the name of the next affected transaction to highlight it and hit Ctrl-V
Repeat steps 4-6 for the remaining incorrect transactions.

Jeremy Kruse

Thank you. I'll give your suggestion a try and report back.

These are just normal securities in a IRA brokerage account. The above example is an ETF but I also see it happening with individual securities. (AMZN, GS, etc) I'm not always sure which security will have the issue.

q_lurker

@Jeremy Kruse

Your snipped example shows the CUSIP as JEPQ. Presumably that is actually the ticker symbol for the security, rather than the CUSIP. @Jim_Harman has given a very comprehensive post above about this topic. In your case, the only way that security gets JEPQ as the CUSIP is if your brokerage sends it that way. I am not aware of any specific brokerage making that error regularly.

So that leads to the questions:

Who is the brokerage sending those downloads? and
What form of download connection is being used? Direct Connect, EWC, EWC+, csv file, QIF file, QFX web connect file would all be possible connections that come to my mind.

Jim_Harman

JEPQ is the ticker symbol for the JP Morgan Equity Premium Inc ETF, which currently has a share price of about $56.44. The correct CUSIP would be 46654Q203.

Is that the security that was affected in your example?

Jeremy Kruse

Yes, JEPQ the ETF in the example. Brokerage is Merrill Lynch and issues started appearing after the Merrill connection method changed over the summer. The connection type is Express Web Connect + according to account properties.

Jim, I followed your suggestion and it worked. Thank You!

Go to Tools > Security List, find the mismatched security in question and click on it.
The Security Detail View window opens. Click the button "Edit Details" in the middle left of the window.
The Edit Security Details window opens. Uncheck the "Matched with Online Security" box.

eeciii

I have been having the same issue with Merrill Lynch in the last couple months. When purchasing a new CD the CUSPID comes down but not the Stock Symbol. The CUSPID is correct. But everytime I run online update with new trades - Merrill Lynch and Quicken do not agree on the number of shares of these CDs - this is broken - a nuisance pop up but should be cleaned up by Quicken and or Merrill Lynch. The bonds/cds that do work properly have both a cuspid and stock symbol (two different Alphas). I am not able to edit stock symbol. Always greyed out.

q_lurker

@eeciii

Working from the end, the ticker symbol field in Quicken is conceptually for stocks and mutual funds. If the Security Type for the security is Bond or CD, the ticker field is greyed out. To change the ticker for such a security, you must:

Change the Security Type to Stock
Edit the ticker field as desired
Change the Security Type field back to Bond or CD

At the end of that process, a pop-up will show allowing you to a) copy the quotes for the old ticker to the new ticker, and b) delete the prices associated with the old ticker. I would choose to do both of those actions.

But back to the beginning, the ticker field is (or should be) irrelevant for these CDs. ML should be providing all information about these securities (transactions and regular prices) based on the CUSIP that they associate to the security. I'd consider it unusual that they would send a ticker symbol for these to begin with. It fully appears to me this issue as you have described it lies with inconsistencies in the Merrill Lynch provided information.