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From: MEM on 3 Aug 2010 15:12
keywords: cost basis, portfolio value

As reported in other discussions (see "Quicken 2010 Cost Basis
problem"), Quicken often resets the cost basis for buy transactions to
zero. I haven't figured out why or when, but I've learned to pay
attention and go back to edit the transaction and resave it. Very very
annoying, but fixable on a case-by-case basis.

Now, I also noticed that portfolio value reports are overstating the
value in reports and on the overview pages, but not on the portfolio
page (thank goodness). With a bit of investigation, I've learned that
the Quicken reports calculate the balance of an investment not by
multiplying number of shares times market value. Instead the reports
start with the cost basis and add/subtract a gain/loss figure. So, if
your cost basis is incorrect (as described above) then the value
calculation will also be incorrect. This seems like a particularly
dumb way to calculate current value for report purposes since
somewhere the code must be calculating it correctly to get a gain/loss
figure.

So, if your portfolio value appears incorrect in reports, go back and
check that all your buy transactions are showing up with the real cost
and not zero.

Sigh. This is a serious bug and Quicken should be fixing it!! In
scouring the Quicken support site I found a reference to recalculating
investment transactions. It describes opening the transactions page
for an investment account and then clicking ctrl-Z. This pops up a
dialog box asking you to confirm the recalculation. I suggest you do a
backup first!

From: name on 3 Aug 2010 17:22
> keywords: cost basis, portfolio value
....
> Sigh. This is a serious bug and Quicken should be fixing it!! In
> scouring the Quicken support site I found a reference to recalculating
> investment transactions. It describes opening the transactions page
> for an investment account and then clicking ctrl-Z. This pops up a
> dialog box asking you to confirm the recalculation. I suggest you do a
> backup first!
>
I simply wish there were a way to simply update your holdings the way you
update your mortgage - I doj'ty care about all those paldceholder transactions;
I just want to be able to reconcile what the broker says I have with what
quicken says I have when the paper statement arrives.



From: name on 3 Aug 2010 19:14
>> keywords: cost basis, portfolio value
>>
> ...
>
>> Sigh. This is a serious bug and Quicken should be fixing it!! In
>> scouring the Quicken support site I found a reference to
>> recalculating investment transactions. It describes opening the
>> transactions page for an investment account and then clicking ctrl-Z.
>> This pops up a dialog box asking you to confirm the recalculation. I
>> suggest you do a backup first!
>>
> I simply wish there were a way to simply update your holdings the way
> you update your mortgage - I don't care about all those placeholder
> transactions; I just want to be able to reconcile what the broker says
> I have with what quicken says I have when the paper statement arrives.

dang new keyboard - fixed that ...


From: Jim H on 3 Aug 2010 20:02
name wrote:
>>> keywords: cost basis, portfolio value
>>>
>> ...
>>
>>> Sigh. This is a serious bug and Quicken should be fixing it!! In
>>> scouring the Quicken support site I found a reference to
>>> recalculating investment transactions. It describes opening the
>>> transactions page for an investment account and then clicking ctrl-Z.
>>> This pops up a dialog box asking you to confirm the recalculation. I
>>> suggest you do a backup first!
>>>
>> I simply wish there were a way to simply update your holdings the way
>> you update your mortgage - I don't care about all those placeholder
>> transactions; I just want to be able to reconcile what the broker says
>> I have with what quicken says I have when the paper statement arrives.
>
> dang new keyboard - fixed that ...
>
>

You don't have to accept a placeholder. I've been using it for tracking
my portfolio for years. I don't have any placeholders. Whenever it
offers a placeholder in order to reconcile holdings, I just click no.
Then, I wait for the correct transaction to download. With some accounts
it happens in the next day. I've never had any problem with Wells Trade
or the Wells Fargo Brokerage. My holdings track perfectly, and I have no
placeholders, and I have never used the recalculate option.

--
Jim
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