how to record non-tax conversion of shares

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Bob3005
Bob3005 Member ✭✭
edited April 2022 in Registers & Transactions (Windows)
The class of mutual fund shares were recently changed which resulted in a change in value per share and change in the number of shares assigned. How should I record the transaction?

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  • Sherlock
    Sherlock Member ✭✭✭✭
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    I suggest you use the Mutual Fund Conversion wizard:  open the account, press Ctrl + N, select Mutual Fund Conversion in the Enter transaction: pull-down menu, ...

    If you're using single mutual fund account registers, you should have two registers.  Deactivate the Online Services of the register that held the original mutual fund, set the register to support multiple securities, perform the Mutual Fund Conversion, and move the generated Added transactions to the new register.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    Extending @Sherlock's comment.
    The ONLY good reason for using a Single Mutual Fund account is because your fund company requires such.  And, in that case, it's NOT one fund at a time that can be held in the account, bur rather ONLY the one original fund EVER.  Thus, you need the 2nd account to hold the converted shares.
    IF your fund company doesn't require an SMF account ... don't use such.

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

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