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0.000 share transactions: Quicken vs Fidelity

Special K

I have a 401k at Fidelity and use Quicken to automatically download transactions. My 401k periodically charges administrative fees that are paid by selling shares of my holdings in proportion to each holding's percentage of my overall account.

One of my mutual funds is only 5% of my portfolio, and the fees charged to the account are not large. Consequently, I have a number of sell transactions that show up in Fidelity as 0.000 shares transacted. When these transactions are downloaded into Quicken, they show up as a small number < 0.000 with 6 decimal places. This number is consistent with the amount of cash transferred into the account to pay the fees given the calculated share price in Quicken.

The problem I am having is that the difference in share balance between Quicken and Fidelity has grown over time with each fee transaction, as Fidelity is reporting them as "0.000" shares transacted, but Quicken is reporting the actual number of shares transacted. How do I correct this?

This particular mutual fund was recently converted to a different share class. It shows up in Quicken and Fidelity as a sale of the old class and a buy of the new class. Quicken now shows a negative share balance for the old class in addition to the shares of the new class. How do I fix this?

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Comments

Jim_Harman

Since this is a 401k, you presumably do not care about tax lots. If the amount is small, you can enter an Add shares transaction just prior to the share class conversion to compensate for the negative residual shares.

UKR

Mutual Funds are typically traded and reported with 3 decimal places.
Fractional shares of stocks can go up to 6 decimal places.

The important part about creating transactions involving fractional shares is to always use only
- the exact number of shares and
- the exact $-amount
as reported by the brokerage to avoid rounding errors.

Let Quicken calculate the price per share to as many decimal places as it wants to, even if it differs from the price per share as reported by the brokerage (which usually is rounded or truncated).

For example, enter 0.123 shares for total amount = $12.34 and not $12.34 @ 100.32 per share (This example may not make much of a difference when you crunch the numbers, but try other quantities and amounts and you'll see what I mean.)