Brokerage Rounds Shares (sometimes)

Community UserCommunity User Member ✭✭✭✭
edited October 2018 in
My brokerage (TDW) rounds shares to two decimal places in their on-line history file, yet when I receive their paper statement, the shares are given to four decimal places. This, of course, is the source of a lot of errors and endless corrections. I gave up downloading from them a long time ago because of the placeholders it generates.I was wondering how common this is with other brokerages and how people have handled it?Stan

Comments

  • Rocket J SquirrelRocket J Squirrel SuperUser ✭✭✭✭✭
    edited October 2018
    Variations in rounding are fairly common. In my experience, the best thing to do is to download your data and refuse all placeholders. Placeholders are evil and will only screw you up.Not sure what an "on-line history file" is. You mean something you view on TDW's web site? I have the same issue with Smith Barney. The transaction history on the web site rounds to 2 decimal places. If I were to enter those numbers into Quicken manually, my data would always be off by the amount of the roundoff error. But by downloading from Smith Barney via One Step Update, I get sufficiently precise data.Did I mention never to accept any placeholders? If a verifiably true discrepancy has occurred (e.g., because of a failure of a transaction to download (it happens)), I manually enter a transaction rather than accept a placeholder.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win7 Pro & Win10 Pro.
  • Community UserCommunity User Member ✭✭✭✭
    edited July 2016
    > Placeholders are> evil and will only screw you up.Amen!> > Not sure what an "on-line history file" is. You mean> something you view on TDW's web site? Yes. I guess history "report" would be more accurate.I check it after making a sale to see the precise commission charged and when I do, I often manually update any other transactions that have occurred recently (reinvested dividends, etc).> But by downloading from Smith Barney via One> Step Update, I get sufficiently precise data.> I don't download from TDW because I don't like all of the extra "transactions" with the sweep account they send when settling trades.> Did I mention never to accept any placeholders? And did I mention all the placeholders I get that I have to get rid of because I don't download from TDW?The placeholders may help some people, but for me, they just cause extra work. I can manually enter my transactions (20-50 per month) in less
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