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Bug - Quicken automatically rounds Stock Total Cost to 2 decimal places.

fciani

With the latest Quicken update, the Total Cost field is automatically rounded to 2 decimal places. The additional decimal points are lost. Also, the Account Holdings screen now defaults to 2 decimal places for Market Valu, Cost Basis, etc.

This is a bug and needs to be fixed

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Comments

Quicken Carlos

Hi @fciani,

Thanks for reaching out to the Quicken Community and for taking the time to share your request.

I found an existing idea related to your request. You can vote for this idea, or if your request is different, you can create your own Idea so that other users with the same or a similar request can vote on it as well.

https://community.quicken.com/discussion/7965282/dont-round-shares-purchased-by-reinvestment-to-2-decimal-places-edited

Ideas are also reviewed by our Development and Product teams in order to improve Quicken and implement new features requested by customers.

I hope this helps!

fciani

Thanks for the feedback, but this is NOT a new idea. This is a bug. Quicken is automatically rounding dollar amounts to 2 decimal places.

mshiggins

I see the same behavior in QW2017, so it is not new behavior.

I am not aware that any brokerage allows transactions for amounts that are fractions of a penny. Isn’t the brokerage going to make the same rounding?

NotACPA

Concur. The Price Paid can be more than 2 decimals, but there is no such thing as a fraction of a penny currency.

NOT A BUG! @fciani's expectations are unreasonable.

Jim_Harman

@fciani When buying or selling a security, it is generally best to enter the number of shares and the total cost or proceeds as reported by your broker, letting Quicken compute the price per share.

When reporting on capital gains or losses, the IRS wants to know the total cost or total proceeds, not the per-share amounts.

fciani

OK. I routinely do that when I'm entering data. However, now when I do that I lose the decimal points. Compare this screen to the one above. I entered 500.6998 as the total price. Before, Quicken kept the decimal points. I am entering the same data by two different methods and I get two different results. In the method above, I get the correct price per share paid, but an error in the total cost. In the method below, I get an error in both the total cost and the price paid. This is only one transaction but multiply these over hundreds of transactions and the error grows.

I understand that in the physical world, there isn't a currency for fractional cents. However, in the digital world, where we can have fractional shares to 8 decimal places, Quicken should honor that fact. The data input should accept additional decimal points for calculations. The final result can be rounded with the caveat that Quicken can have a display option to show Total Cost with additional decimal points.

Jim_Harman

@fciani When your brokerage reports on the value of your holdings or the proceeds of a sale, does it show more than 2 decimal places? I doubt it.

bsantelli

This!!!!