ContribX issue

Question

Is there a way to exclude a single ContribX transaction from cash flow? When I export my fund performance report to Excel, filter out all of the fees, my IRR is off about about 50 bps from what my Morgan Stanley performance (less fees) report says. If I zero out one particular odd looking ContribX transaction, my IRR comes within 3 bps of Morgan's, which is good enough for me. This suggests that Morgan doesn't treat that transaction as a cash flow, but a cash sweep (it happened during a conversion of one CEF to another.) If I zero out the ContribX transaction, my cash balance goes bonkers, negatively.

Quicken Kristina · Answer

Thank you for the follow-up,

I'm glad to hear you found and corrected the issue!

Mike Judd · Answer

Thanks. I figured it out. Quicken botched the cash sweep of an Eaton Vance conversion back in 2021. It thought it was a negative cash flow, but it wasn't. I reclassified the transaction as "misc income." This removed it from the IRR calculation without contaminating my cash balance. All good.

Chris_QPW · Answer

You can't zero out the amount because you really need the amount to be transferred so that it appears in both accounts.

I would try editing the transaction and change it from "Cash Transferred in" to "Deposit".  For the category change that to [Other Account] where "Other Account is the account where the money is being transferred from.

If that still doesn't fix the reporting, another approach would be to use "balance adjustments" instead of a transfer in both of the affected accounts.