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handling reinvest dividends in Quicken for MAC

Concordman
Concordman Mac Beta Beta
edited August 2018 in Investing (Mac)
Would like to confirm what I plan to do is correct: I download my investments from the Fi, presently the download consists of two transactions , a dividend income & corresponding buy transaction. I recall from QW days that the software allowed one to edit the transactions into a reinvest dividends transaction prior to accepting . 

So the question: In QM is this strictly a manual transaction ? that is , do I edit the dividend income , change type to Reinvest, fill in the shares bought then delete the downloaded buy transaction? Is this the only way to do this & if it is , what is the downside ?

Comments

  • RickO
    RickO SuperUser, Mac Beta Beta
    edited November 2017
    Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

    I don't believe this has any impact on basis and gain reporting, although other may have different experience.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited August 2018
    What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
    reinvested dividend transaction which matches the behavior in Quicken
    Windows."

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
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    (Canadian user since '92, STILL using QM2007)
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited February 2017

    What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
    reinvested dividend transaction which matches the behavior in Quicken
    Windows."

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    Interesting. I missed that in the release notes. But it sure isn't working for me with Fidelity Investments downloads. 
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Unknown
    Unknown Member
    edited February 2017
    If merging them isn't working, I would recommend changing the buy transaction - which already has the number of shares, the purchase price, and the cash amount - by just changing the type to reinvest dividend. Then delete the cash dividend transaction. Much easier!
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited February 2017
    RickO said:

    Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

    I don't believe this has any impact on basis and gain reporting, although other may have different experience.

    Correction: As smayer97 points out below, this was supposed to have been added in 4.4.0. 

    It is not working for me (hence my bad info above) in 4.4.3 with Fidelity Investments downloads as of 1/31/17. 

    Concordman .... what brokerage are you downloading from? What version of QM2017? What are the transaction dates?
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Concordman
    Concordman Mac Beta Beta
    edited February 2017
    RickO said:

    Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

    I don't believe this has any impact on basis and gain reporting, although other may have different experience.

    Using. 4.4.3 , Wells Fargo , as of 2/1/17
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited February 2017
    RickO said:

    Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

    I don't believe this has any impact on basis and gain reporting, although other may have different experience.

    Are there multiple securities generating dividends in a single download? Do you have any cases where there is a single dividend/buy transaction pair in a download? 

    I have a theory that perhaps Quicken is not merging the transactions when there are multiple dividend/buy pairs in a single download because the individual transaction pairs are not consecutive in the download sequence.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Concordman
    Concordman Mac Beta Beta
    edited February 2017
    RickO said:

    Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

    I don't believe this has any impact on basis and gain reporting, although other may have different experience.

    Indeed had a single transaction in one of my accounts on 2/1/17.
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited February 2017
    RickO said:

    Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

    I don't believe this has any impact on basis and gain reporting, although other may have different experience.

    So much for my theory. :-(
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Concordman
    Concordman Mac Beta Beta
    edited February 2017

    What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
    reinvested dividend transaction which matches the behavior in Quicken
    Windows."

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    Not working for me on V4.4.3
  • Concordman
    Concordman Mac Beta Beta
    edited November 2017
    +1 Andy..just "did it your way" in my beta file. Works per your inputs
  • Concordman
    Concordman Mac Beta Beta
    edited November 2017
    I am going to play with this a bit, going to modify transactions  to reinvest dividends for 2017 only. Too much work going backwards. Wondering if perhaps QM can learn on its own, yeah I know its a stretch but why not 
  • RCinNJ
    RCinNJ Member ✭✭✭✭
    edited February 2017

    What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
    reinvested dividend transaction which matches the behavior in Quicken
    Windows."

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    It is working for me at Vanguard. V4.4.3. 
  • Concordman
    Concordman Mac Beta Beta
    edited February 2017

    What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
    reinvested dividend transaction which matches the behavior in Quicken
    Windows."

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    Yes it works with Vanguard
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