Need expert advice on updating brokerage account...

Posted by Terri on February 13, 2008, 3:27 pm

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Using Quicken Premier 2006 and have not done any updates on my brokerage
account since the end of 2005. What is the best way to do this now? Online
One Step Update? I do think I tried that some time ago and it combined
accounts somehow. Need some expert advice please.

Posted by Don on February 13, 2008, 3:46 pm

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wrote:

>Using Quicken Premier 2006 and have not done any updates on my brokerage

>account since the end of 2005. What is the best way to do this now? Online

>One Step Update? I do think I tried that some time ago and it combined

>accounts somehow. Need some expert advice please.

From the manual:
Quicken needs both cost basis/amount invested and market price
(historical and/or current) information to perform investment
calculations. Derived performance measures such as gain (realized and
unrealized) and average annual return (IRR) will be affected if this
information is missing. If you are currently in the process of setting
up your investments in Quicken, or if you want to track only your
holdings and do not wish to perform detailed performance analysis or
tax tracking, then incomplete information and placeholder entries are
not a problem. It is important to be clear that certain performance
and tax calculations are not to be considered reliable unless Quicken
can work with complete and accurate historical information.

Posted by P.Schuman on February 13, 2008, 3:55 pm

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Terri wrote:

> Using Quicken Premier 2006 and have not done any updates on my

> brokerage account since the end of 2005. What is the best way to do

> this now? Online One Step Update? I do think I tried that some time

> ago and it combined accounts somehow. Need some expert advice please.

well - how active are they ?
what kind of transactions do they have ?

I mean, are they idle with respect to "trading"
and only are sitting there with basic Divs, LT/ST gains ?

I would try the One Step Update and see what you are able to download.

Then I would manually go thru your statements and just add those
transactions
up to the point where a One Step Update made it current.

Posted by Terri on February 13, 2008, 4:00 pm

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They are still active accounts in my portfolio and they are either
buys/sells/dividends etc. They are up to date at 12/31/2005 but I have not
entered anything since then

Would the information have to be put in for the years separately? I want to
do this the easiest way possible so they are updated to 12/31/2007 with the
proper final totals so that I can update more frequently in the future.

> Terri wrote:

>> Using Quicken Premier 2006 and have not done any updates on my

>> brokerage account since the end of 2005. What is the best way to do

>> this now? Online One Step Update? I do think I tried that some time

>> ago and it combined accounts somehow. Need some expert advice please.

> well - how active are they ?

> what kind of transactions do they have ?

> I mean, are they idle with respect to "trading"

> and only are sitting there with basic Divs, LT/ST gains ?

> I would try the One Step Update and see what you are able to download.

> Then I would manually go thru your statements and just add those

> transactions

> up to the point where a One Step Update made it current.

Posted by Oilcan on February 13, 2008, 9:31 pm

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I would always be safe to load the oldest first and move forward. You can
do a one step update (to see how much data is returned) or possible you
might be able to be able to load specific dates on the brokers site (likely
90 days per transaction). However, I recommend you do not accept the one
step update transactions until you get caught up to that point.

Also, you do not need to reconcile each month - when I dealt with history, I
reconciled quarterly. Saves a little time.

If you are not concerned with history and want to start with 1/2008, you can
simply do a Remove Share for items you don't own and Add Shares for Items
you do Own. You will need to add shares for each lot you purchase to have
the correct basis in the future.

Oilcan

> They are still active accounts in my portfolio and they are either

> buys/sells/dividends etc. They are up to date at 12/31/2005 but I have not

> entered anything since then

> Would the information have to be put in for the years separately? I want

> to do this the easiest way possible so they are updated to 12/31/2007 with

> the proper final totals so that I can update more frequently in the

> future.

>> Terri wrote:

>>> Using Quicken Premier 2006 and have not done any updates on my

>>> brokerage account since the end of 2005. What is the best way to do

>>> this now? Online One Step Update? I do think I tried that some time

>>> ago and it combined accounts somehow. Need some expert advice please.

>> well - how active are they ?

>> what kind of transactions do they have ?

>> I mean, are they idle with respect to "trading"

>> and only are sitting there with basic Divs, LT/ST gains ?

>> I would try the One Step Update and see what you are able to download.

>> Then I would manually go thru your statements and just add those

>> transactions

>> up to the point where a One Step Update made it current.