Quicken not handling stock splits correctly
Tony Reina
brokerage account records. However, my Quicken account for the stock
is off a fraction of a share (like -0.578). This seems to be the case
for all of my stocks that have had stock splits. I'm wondering if
Quicken is adding fractional shares of stock in with the stock split
(?) For my Schwab account, I think only whole shares are actually
split and I receive cash-in-lieu of the fractional shares.
Has anyone run across this before? I think if the Quicken software
would simply truncate the number of shares before the split that my
amounts would come out correctly.
Thanks.
-Tony
John Pollard
> I've entered in my stock's DRIP transactions exactly according
> to my brokerage account records. However, my Quicken account
> for the stock is off a fraction of a share (like -0.578). This
> seems to be the case for all of my stocks that have had stock
> splits. I'm wondering if Quicken is adding fractional shares
of
> stock in with the stock split (?)
Well, stock splits can create fractional shares; I do not think
Quicken is "manufacturing" any shares.
> For my Schwab account, I
> think only whole shares are actually split and I receive
> cash-in-lieu of the fractional shares.
Actually I think your actual holding would be split, then
fractional shares sold. (What if you held 101 shares and there
was a 1 for two split, you won't have fractional shares until
*after* the split). And if you are receiving cash-in-lieu-of
fractional shares, you would have to record a "Sell" transaction
in Quicken to dispose of the fractional shares; a transaction
that should agree with its counterpart on your brokerage
statement.
> Has anyone run across this before? I think if the Quicken
> software would simply truncate the number of shares before the
> split that my amounts would come out correctly.
Quicken would have to round/truncate exactly the same as your
broker did for this to work; and Quicken doesn't know how your
broker rounds or truncates. But if the difference is
represented by fractional shares having been sold by your
broker, then, as mentioned, you need to record the same sale in
Quicken.
--
John Pollard
First Last at Bellsouth dot net
Tony Reina
> fractional shares sold. (What if you held 101 shares and there
> was a 1 for two split, you won't have fractional shares until
> *after* the split). And if you are receiving cash-in-lieu-of
> fractional shares, you would have to record a "Sell" transaction
> in Quicken to dispose of the fractional shares; a transaction
> that should agree with its counterpart on your brokerage
> statement.
That makes sense. Thanks.
-Tony
Hank Arnold
should enter the number of shares and the total value of the transaction and
then let Q calculate the price or NAV for the transaction. Stock and mutual
fund transactions are always recorded at more decimal places than shown on a
report. Q also tracks the numbers at a higher accuracy than shown. If you
enter the price and total cost, you will always be off in the number of
shares. There will always be a "creeping" inaccuracy over time. that you
have to adjust by adding or removing shares to get the totals to match.
Some DRIP is charge a fee for processing the transactions. If this is the
cause, then I would
1) Enter the number of shares bought and the total cost as a Reinvestment,
2) Enter a DIV for the amount of the fee
3) Enter a management fee for the amount in 2).
--
Regards,
Hank Arnold
"Tony Reina" <rein...@hotmail.com> wrote in message
news:272e4be7.04031...@posting.google.com...
John Pollard
> Stock and mutual fund
> transactions are always recorded at more decimal places than
> shown on a report. Q also tracks the numbers at a higher
> accuracy than shown.
One thing you can do to increase visability a bit is to tell
Quicken you want to see prices and shares reported to six
decimal places; the default is three.
With a report visible, you can click "Options" then enter the
number of decimal places in "Decimal Digits of the Price and
Shares".