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Posted by Oilcan on February 15, 2008, 10:17 am
Please log in for more thread options You need to combine the Accounts to match the broker if you want to do an
automatic download. Search this Group in Google as this has been discussed
many times on different ways to accomplish this.
Oilcan
>I have finally realized another problem. My brokerage company shows only 4
>accounts but I have broken those accounts that have mutual funds down to
>say 6 or 8 separate funds. When I go to update, it only shows the MASTER
>account and of course, not the separate funds. Now what? Start all over?
>Out of the 4 accounts, 2 have been broken down by me and entered manually
>for years, but am still at that point where I got lazy and have not updated
>since 2005....Any further suggestions?
>
>
>
>>> OK - what if I deleted ALL the prior information from ALL the accounts
>>> and
>>> just went to One Step Update and began anew with, let's say December 31
>>> 2007 - would this be disastrous? It is just too much work to go back and
>>> do
>>> everything by hand.
>>
>>
>> One problem with this approach is that you most likely would lose cost
>> basis information for older securities that you still have in your
>> portfolio.
>>
>> Say, for example, you originally purchased a stock in various lots in
>> 1990, 1991 and 1992. From 1993 to to the end of 2005 you sold some
>> of those shares from time-to-time, specifying different lots for
>> calculation of capital gain/loss. At the end of 2005 your Quicken
>> file would be carrying that lot/cost basis information for the stock
>> that remained, and that information would all be lost with the
>> deletion. It's almost a certainty that the downloaded information
>> would not include this kind of cost detail.
>>
>> If, at this point, you did a One Step Update the FI would send along,
>> and Quicken would enter, transactions from the present back to however
>> long the FI provides this information (probably no more that 2
>> years.) Then Quicken would create "placeholders" (adjusting entries)
>> in your account to balance the sum of the transactions with current
>> balances provided by the FI. You'd end up with correct current
>> balances for securities but no reliable cost basis information for
>> older securities.
>>
>> If you're unwilling to enter this information manually but still want
>> to have good cost basis figures for older stocks then the only other
>> option is to do a One Step Update and go back and "fill in" any gap
>> between the end of 2005 to the point the One Step Update information
>> begins, followed by deleting placeholder entries created by Quicken.
>>
>> What I'd recommend you do is to back up your current files, do your
>> One Step Update, and see how far back the information goes.
>>
>> Tom Young
>
>
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