Sale of shares of a security in brokerage account not added to cash balance. Why not?

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rgantos2
rgantos2 Member ✭
edited April 2022 in Errors and Troubleshooting (Mac)
Quicken for Mac states "Enter the total sale price, commission and number of shares sold and Quicken will calculate the price per share. The total sale will be added to your cash balance."
The total sale is not added to the cash balance.
I have macOS Mohave, version 10.14.6. Quicken.app, version6.0.3.
In an earlier versions of Quicken, total sale was added to the cash balance. Hopefully Quicken for Mac will fix this transaction in its current version.

Thank you.

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    I'm not seeing this, and in testing, I'm unable to reproduce it. And I haven't seen any other reports of a problem in this area. Could you post a screen shot of the transaction? Was this a manually-entered transaction, or one you downloaded? Have you checked your investment account to see if Quicken has inserted a placeholder transaction? (Go back to the beginning of the account to look.)
    Quicken Mac Subscription • Quicken user since 1993
  • rgantos2
    rgantos2 Member ✭
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    Thank you for your response. Unfortunately for me I get this same problem when I manual-enter transaction of a sale of shares in my Brokerage account in Quicken.
    For example I sold 300 shares @ $34.4649 for a Total Sale of $10,277.24 of a security in the Wells Fargo Advisor Brokerage account. Quicken says this total sale will be added to my cash account with Wells Fargo Bank. Not true. The $10,277.24 cash is in my Brokerage Account. I now have cash in both accounts. Security sales in the brokerage account and dividend, interest , deposits, debits, etc. in my cash balance account. In a prior version of Quicken this transaction worked as promised by Quicken. I called quicken support a while back to report this problem. The support associate produced the same problem. I asked her is this due to the situation that my macOS is not the latest version. She said no this transaction will happen with macOS Catalina. I give up until Quicken fixes this problem, I'm accepting the situation that both accounts (Brokerage and Cash) will have cash. Thanks for your help.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    If you have a transaction to sell shares of a security, the cash will appear in that account. To move the cash to another account, it takes a second transaction of the type "Payment/Deposit" with the Category being transfer to the destination account. Here's an example of a Sell transaction resulting in $5,000 in cash, followed by a transaction (highlighted in blue) moving the cash to a checking account:



    If you previously used Quicken Windows, there is type of transaction called "SellX" which allows you to sell a security and move the proceeds to a different destination in one transaction. If you previously used Quicken Mac, in a "Sell" transaction you could specify the a transfer destination. In the current Quicken Mac, you can do the same things; you simply need to do it as two separate transactions.
    Quicken Mac Subscription • Quicken user since 1993
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