Quicken: the short way to mess up your brokerage accounting

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joincto
joincto Member ✭
edited September 2022 in Investing (Windows)
[Removed - Disruptive] Every few weeks now there seems to be some rush bug fix that needs to be installed -- and the software still appears to be full of bugs. Right now I have some downloads from Schwab which are described as conversions. meaning that the stock from one fund was transferred into another I guess without any tax consequence. Quicken does not seem able to handle that. Before that there was some [mess]up about treating Schwab sweep securities as cash. Not surprising, given the ongoing internecine squabble between Schwab and Quicken. But I [Removed - Language] pay Quicken to sort this out. I have spent hours trying to sort out the mess that this software has made of my accounts. I will certainly not upgrade to their next major release.

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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited August 2022
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    Quicken's Mutual Fund Conversion action is the best way to handle the conversion downloads. Back up your data file, then delete the related downloaded transactions. Click on Enter Transactions and select it from the list.

    It will create one Removed transaction for all the shares of the old fund and one Added for each tax lot of the new one. It preserves your original cost basis information.

    We can help with any questions you may have.
    QWin Premier subscription
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