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Reconciling Shares held by your brokerage account vs Quicken

jjrichards

Within the past three months I converted from Q Win to Q Mac. One of the features Quicken for Windows had was that when you downloaded transactions from your brokerage account into Quicken , and if the share balance was off ( comparing your brokerage account to Quicken) , they would show you the difference from Quicken for Mac to your brokerage account .

This was very useful on Q for Win since there were times the balances were off .

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Reconcile

Quicken Mac

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Status: Reviewed

Comments

jjrichards

I was a Q for Win user for 30 years . One of the great feature of Q for Win was that when you had a stock transaction , buy , sell , reinvest dividend if the number of shares differ from Quicken to your stock brokerage account there would be a notice of the number of shares which are different .

Q for Mac does NOT have this feature . This would be a great upgrade.

NotACPA

I'm a QWin user, but I've view this request as a basic function … since the info is already being downloaded from the brokerage.

I voted it up.

Chris_QPW

I believe this suggestion is already "planned":

https://community.quicken.com/discussion/7861875/reconcile-using-share-balance-instead-of-cash-value-in-mac-version-4-legacy-votes

I will note though that from what I understand Quicken Mac does make use of the share information that the financial institution sends. What it does is create placeholders when it doesn't match. I personally wouldn't want that; I would want to be notified so that I could take care of the problem, but that is how it currently stands as far as I know.

jacobs

I will note though that from what I understand Quicken Mac does make use of the share information that the financial institution sends. What it does is create placeholders when it doesn't match. I personally wouldn't want that; I would want to be notified so that I could take care of the problem, but that is how it currently stands as far as I know.

@Chris_QPW You're correct about how it uses placeholders to force share balances to agree with the financial institution. And the two problems with this approach are: (a) there is no notification to the user of a share imbalance and the creation of a placeholder transaction to make them agree; and (b) the placeholder transaction is date prior to the first transaction date for the account, and many people don't know or think to look back to the beginning of their register to see if any placeholders have been created.

As you noted, the ability to reconcile to a share balance instead of (and/or in addition to?) a cash balance is a "Planned" feature for Quicken Mac. How they plan to implement this is anyone's guess. As is when it will rise to the top of the queue of many planned feature requests.

jjrichards

An update I called Quicken Support team . I shared my screen to determine why my one of four Etrade accounts does not match the Net Worth report. They had me scroll down all of the transactions looking for one with "Red Dot". They had me run number of other checks for 1 hour with no success The person I was dealing with called her " Escalation " team for advice guidance .

Their only recommendation was for me to reinstall the previous version 8.4.0 which came out late December since I mentioned to them that my Net Worth by year reports were accurate

I did not unininstall / reinstall the prior version since I told them very concerned on any data loss . My sidebar is 100% correct. Even if I have a current version that I have as a backup to restore , still concerned

The escalation team will review if other Q for Mac users have similar issues . Not sure if anyone else has suggestions