why does quicken track tender offers?

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leonard kearney
leonard kearney Member ✭✭✭
in Investing (Windows)
I see these in my bond account. often there is more than one on a particular bond. what's the purpose?

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  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited December 2021 Answer ✓
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    Agree with @NotACPA that these are coming from your financial institution, not anything Quicken is doing. 
    Looking at what was downloaded I'd probably delete the first two transactions and key in manual entries that more properly reflect what went on here.  An accepted "tender" is a sale of the security and should be recorded as such.  When you sell a bond you are also paid whatever amount of interest has accrued from the time of the last coupon to the date of sale, and the IntInc transaction is appropriate.  Not sure what that last "Deposit" is doing as it doesn't seem to have any dollars associated with it.  If that's the case then delete that too.

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    What exactly do you mean by "quicken track(s) tender offers?"  What entries are you seeing (from downloads, I'd think) that prompts this question?
    Quicken doesn't create transactions or entries on its own except in the case where you've set up some sort of reminder and told Quicken to post it in your Accounts.  Otherwise it ether accepts your manual entries or downloads that you've accepted into your Accounts. 
    If whatever you're seeing is coming from downloads then the financial institution that holds the account is responsible. 
    My guess here is that tenders are subject to legal and regulatory requirements that affects the underlying securities - name change?, CUSIP change? - and that the financial institution is complying with these requirements.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    A screenshot of the transaction would be helpful, to see the "action"/description.

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  • leonard kearney
    leonard kearney Member ✭✭✭
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    here is a snip showing the tender offer and follow up transactions..
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    Those transactions appear to have been downloaded from your brokerage account ... NOT Q generated.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited December 2021 Answer ✓
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    Agree with @NotACPA that these are coming from your financial institution, not anything Quicken is doing. 
    Looking at what was downloaded I'd probably delete the first two transactions and key in manual entries that more properly reflect what went on here.  An accepted "tender" is a sale of the security and should be recorded as such.  When you sell a bond you are also paid whatever amount of interest has accrued from the time of the last coupon to the date of sale, and the IntInc transaction is appropriate.  Not sure what that last "Deposit" is doing as it doesn't seem to have any dollars associated with it.  If that's the case then delete that too.
  • leonard kearney
    leonard kearney Member ✭✭✭
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    agree, thank you

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