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Posted by jo on December 3, 2007, 3:11 pm
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Due to rounding, Quicken [H & B, 2006, and other versions] sometimes
get out of whack with what the brokerage says you have in terms of the
# of shares in mutual funds with reinvesting. In order to get the
total cost correct, I've played with either the price or the number of
shares a bit sometimes. What I'd like to know is what the best/most
practical way of bringing my holdings back into sync with the
statement. It's a very small fraction off in one mutual fund, but it
annoys me, obsessive that I am. I tried simply removing that
fractional number from the portfolio but Quicken wants a cost value
entered, I don't know what to use, and treats it like a sell. Is
there a better/easier way?
jo
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Posted by Eric on December 3, 2007, 5:24 pm
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Yes, it is rounding errors. What happens in the "real" world is you buy or
sell shares at a total cost and then the price per share should be
calculated.
Use the Total Cost and the exact number of shares that you broker shows and
let Quicken calculate the cost per share which really does not have to be
exact.
To correct your situation I suggest going back to each purchase/sale
transaction and let Q do its thing. Then your share quantity will match and
so will your costs.
Eric
> Due to rounding, Quicken [H & B, 2006, and other versions] sometimes
> get out of whack with what the brokerage says you have in terms of the
> # of shares in mutual funds with reinvesting. In order to get the
> total cost correct, I've played with either the price or the number of
> shares a bit sometimes. What I'd like to know is what the best/most
> practical way of bringing my holdings back into sync with the
> statement. It's a very small fraction off in one mutual fund, but it
> annoys me, obsessive that I am. I tried simply removing that
> fractional number from the portfolio but Quicken wants a cost value
> entered, I don't know what to use, and treats it like a sell. Is
> there a better/easier way?
>
> jo
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Posted by Fred Smith on December 3, 2007, 7:01 pm
Please log in for more thread options The best way: Fix the original transactions. Go back and change the quantity to
match the broker's statements. Quicken will recalculated the price to as many
decimal places as it wants, but that's fine. In the future, always enter the
exact number of shares from the broker's statement.
Most practical: That's up to you. If you don't want to go to the work of
correcting the original transactions, just do an Adjust Share Balance.
--
Regards,
Fred
> Due to rounding, Quicken [H & B, 2006, and other versions] sometimes
> get out of whack with what the brokerage says you have in terms of the
> # of shares in mutual funds with reinvesting. In order to get the
> total cost correct, I've played with either the price or the number of
> shares a bit sometimes. What I'd like to know is what the best/most
> practical way of bringing my holdings back into sync with the
> statement. It's a very small fraction off in one mutual fund, but it
> annoys me, obsessive that I am. I tried simply removing that
> fractional number from the portfolio but Quicken wants a cost value
> entered, I don't know what to use, and treats it like a sell. Is
> there a better/easier way?
>
> jo
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Posted by John Pollard on December 5, 2007, 12:15 pm
Please log in for more thread options Fred Smith wrote:
> The best way: Fix the original transactions. Go back and
> change the
> quantity to match the broker's statements. Quicken will
> recalculated
> the price to as many decimal places as it wants, but that's
> fine. In
> the future, always enter the exact number of shares from the
> broker's
> statement.
> Most practical: That's up to you. If you don't want to go to
> the work
> of correcting the original transactions, just do an Adjust
> Share
> Balance.
Users should be advised: an "Adjust Share Balance" transaction
is a Quicken "placeholder" and it comes with some interesting,
and often confusing, side effects.
When I want to adjust my share balance, I use Add Shares or
Remove Shares.
--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup
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Posted by R. C. White on December 4, 2007, 9:38 am
Please log in for more thread options Hi, Jo.
I second Eric's advice.
This question comes up very often here. The answer is always the same. You
are never going to get a check from your broker or fund manager for a
fraction of a cent. And your broker's statement or mutual fund balance is
never going to show that you hold a millionth of a share of anything. Cash
is always rounded to the nearest penny - and no further. Shares in your
account are rounded to the nearest whole share for individual securities and
to the nearest 1,000th of a share (.001) for mutual funds.
So, always record cash transactions rounded to the nearest penny. Always
record share transactions to the nearest whole share or the nearest .001
share, as appropriate. Calculate the per-share price to as many decimal
digits as you like, but don't use that price in calculations, except as a
check on the reasonableness of the actual cents or shares recorded. When
Quicken asks which of the factors to adjust, let it adjust the price per
share, leaving the exact total amount and total shares as you know them to
be "in the real world".
Quicken provides a shortcut way to adjust the shares balance, and sometimes
it makes sense to use this method. But purists (like me) and obsessives (as
you say you are) will always want to go back and delete all the incorrect
entries and record them properly. When done correctly, this will eliminate
the fractional-share differences.
RC
--
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
rc@grandecom.net
Microsoft Windows MVP
(Currently running Quicken 2008 Deluxe in Vista Ultimate x64)
> Due to rounding, Quicken [H & B, 2006, and other versions] sometimes
> get out of whack with what the brokerage says you have in terms of the
> # of shares in mutual funds with reinvesting. In order to get the
> total cost correct, I've played with either the price or the number of
> shares a bit sometimes. What I'd like to know is what the best/most
> practical way of bringing my holdings back into sync with the
> statement. It's a very small fraction off in one mutual fund, but it
> annoys me, obsessive that I am. I tried simply removing that
> fractional number from the portfolio but Quicken wants a cost value
> entered, I don't know what to use, and treats it like a sell. Is
> there a better/easier way?
>
> jo
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