win version of quicken - schwab transaction
the Added 500 shares is incorrect and should be deleted.
Edit the StkSplt transaction to be 6 for 1 rather than 1 for 0.166667.
@leonard kearney,
Schwab, inappropriately, sent an "Add Shares" transaction rather than a "Stock Split". Their fault, but they're not the only brokerage that does such.
But the StkSplit that you had already input didn't/couldn't match with the Add, is why you ended up with a doubled quantity.
updated today - got this
this in transactions
this from online center comparison
FYI, I did not enter any of these transactions. I did delete one that I thought would balance the systems.
As a former IT exec, I am dumbfounded that these types of errors, from major brokers (Schwab, Fidelity), are an ongoing problem for quicken. Just curious, has Quicken outsourced development?
Len
At what point do you expect Quicken to be more knowledgeable about your finances than your chosen financial institution? If your FI sent an Add Shares to Quicken, why on earth would you expect Quicken to ignore it or override it?
The investor is supposed to be in control and know or learn what is correct. If the FI sent a 1-for-0.166667 stock split, the user needs to see that as creating a problem and correct it to a 6-for-1 split. If the FI sends an Add Shares for the increase in share count creating a problem, the investor needs to see that as a problem and delete that bogus transaction.
I also received an Added transaction from Vanguard for the VUG split on 4/21. This was in addition to a StkSplit like the one above, which apparently came from Quicken's quote provider. The split adjusted price was recorded starting on 4/22. When I accepted the Added, I got a dialog asking if this was actually an Added, a split, or something else.
To record this split correctly, I did the following:
@Jim_Harman curious why you would delete the stock split and retain the Add Shares. Is there some advantage to the Add Shares?
Actually I should have kept the downloaded StkSplit and edited it to be 6 : 1 rather than 1 : 0.166667. That corrects the rounding issue and avoids continued reminders that the split might be missing.
I should have deleted the downloaded Add Shares rather than converting it to a StkSplit.
Apparently Quicken keeps track behind the scenes of whether you have kept its downloaded split and keeps nagging you about the seeming discrepancy even if you have entered your own split on the same date.
This is news to me @Jim_Harman since I have never experienced it. Thank you.
Fidelity downloaded Add Shares transactions @ $0.00 cost on 4/21 (into 2 different accounts) for an 8:1 split of VGT (VANGUARD WORLD FD INF TECH ETF) instead of downloading stock split transactions. My portfolios now show the correct number of shares held and the correct average cost basis. I accepted them and kept them as-is instead of changing what Fidelity downloaded (except to add a "8:1 stock split" memo).
Generally I prefer to keep the transactions that Fidelity downloads as-is instead of changing them when changing them would provide no actual benefit. And in this case I see no benefit for changing the transactions since these 2 accounts are IRAs.
If this occurred in one or more of our taxable accounts I probably would have changed those transactions to stock splits to ensure that each individual share has the correct actual cost basis because not changing the transactions would have an adverse impact on Cap Gains/Losses when those shares are eventually sold. But for IRAs this is not an issue because there are no Cap Gains/Losses implications.
