Adjusting share balance without affecting ACB?
Is there any way that I can adjust the share balance of a security without creating a placeholder entry or adjusting the cost of the security?
This is an ongoing issue for me where my wealth management company uses NBIN as custodian, and there are monthly rounding adjustments of .001 shares up and down on some of the securities.
The only way I have managed to get these adjustments done "properly" in the past was to adjust a reinvested distribution share quantity by the adjustment amount. That way, the ACB is still correct, only the share quantity of the reinvestment is off. If I use the remove shares function, it creates a cost adjustment which messes [Edited - Language] up the ACB, and if I adjust the share balance, I get a placeholder that can never be reconciled?
Recently, most of the distributions have been changed from reinvested to cash, so that is no longer an option. These adjustments happen monthly, so a LOT of placeholders would be created, which just seems messy and unnecessary.
Does anyone have an alternate resolution?
[Edited - Readability]
Answers
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Hello @Microfiche,
Thank you for reaching out! Is this an account that you update manually, or do you download/import transactions directly from the financial institution?
If you download or import transactions, how does the change in shares appear in Quicken?
I look forward to your reply!
Quicken Kristina
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It is manually updated. Quicken is calculating correctly, however on the other side, they are constantly making .001 share adjustments - I assume rounding. I am just trying to determine how to adjust share quantities without adjusting the total cost of the security. Some of the securities have quite high unit costs, so even adjusting .001 shares using remove or add shares adds a significant cost.
Using Quicken since sometime before the beta test of Quicken 6 for Windows in 1996...0 -
Thank you for your reply,
In an earlier discussion, I can see that using Add Shares with a $0 price was recommended:
Is that effective for your use-case?
Quicken Kristina
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Looks like it can work for adding, but removing doesn't offer an option to change the cost of the transaction.
I think they must have changed something in the add shares transaction, I don't think that used to work properly. In any case, remove shares adjusts the cost.
Using Quicken since sometime before the beta test of Quicken 6 for Windows in 1996...0 -
@Microfiche One possible reason, that I've discovered over time, is that in calculating security holding values, Q uses standard 5/4 rounding … while my broker Fidelity truncates fractional pennies. Perhaps others do also.
Does that help to explain anything?
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Thank you for your reply,
I forwarded this to the proper channels for further review.
Thank you!
(CTP-17039)
Quicken Kristina
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No idea what NBIN does, my assumption is that the wealth management company and NBIN use different rounding methods, such that the wealth managements share quantities go out of sync with NBIN's occasionally and they have to reconcile them with an adjustment. I use the numbers from NBIN and Quicken always matches the NBIN numbers until they make these +/- .001 adjustments. Quicken doesn't have a way for me to make those adjustments, at least the negative ones, without throwing out the ACB. So the why isn't really the problem. It isn't a calculation issue that I have control over.
Using Quicken since sometime before the beta test of Quicken 6 for Windows in 1996...1 -
This is an ongoing issue for me where my wealth management company uses NBIN as custodian, and there are monthly rounding adjustments of .001 shares up and down on some of the securities.
I gather NBIN actually shows this adjustment in their records. That seems odd to me
I suspect the root cause is that NBIN is internally tracking shares to 0.0001 precision but only reporting transactions to 0.001 precision. In the US version, I’d tell you to specify the 0.001 share removed as being one of the zero-cost 0.001 shares added as a different adjustment. I am not sure that would work or is available since Canada appears to require use of average cost for cap gain/loss calculations.
If you have a transaction for that month, I’d tweak the last or largest share quantity up or down by 0.001 to make the fit.
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Yeah, that is the issue, I don't always have a transaction that month, and I would like to have correct buy/sell quantities in Quicken for when I reconcile at the end of each year. It just adds extra checks to the process if I have to start checking transactions to see if it was entered wrong , or done as a adjustment. That might be the only way, but I was hoping there was an alternative. Thanks!
Using Quicken since sometime before the beta test of Quicken 6 for Windows in 1996...0
