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Investment price being multiplied by 100???

I have a paycheck set up in Q 2006 basic to transfer a fixed amount to a tax deferred investment every paycheck. The transfer appears to take place but the numbers in the investment account register are really screwed up. It's not a new problem. I had something similar happen in Q2005.

The lines in the "Edit Buy - Shares Bought" screen of the regester appear to be:

Number of shares = (Amount Invested) / (Cost per Share) It looks like it is using the last recorded Cost per Share.

Price Paid = (Number of Shares) * (Cost per Share) * 100 Where did that 100 come from?

Commission = (Amount Invested) - (Price Paid) Turns out to be a large negative number.

Total Cost: = Amount Invested

For example: With invested amount = $50 Cost per share = $1.00

The register reflects: The Number of Shares is 50 The Price Paid is $5000 (!) The Commission is -$4950 The Total Cost is $50

I go through occasionally and enter the correct numbers into the register and into the price history. It appears to work OK for a while, However, days/weeks/months later, I go to the register and the old *100 values are back. Apparently, something causes Q to re-calculate the numbers.

As I said, I had a similar problem in Q2005. It showed a correct Price Paid, the same screwed up Commission, and a large negative Total Cost.

Do I have some setting screwed up somewhere to get the price paid calculated at 100 times its actual value?

What's happening????

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Reply to
BC Berry
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Perhaps; just a guess.

Go to the Summary tab for the account, then

Edit Account details > Transaction fees

and see if you have some value in the Commission % (or anywhere in that dialog for that matter).

Reply to
John Pollard

Don't options or something use a 100 for their value--maybe bonds?

Are you simply transferring the money into an investment account and then using the investment account to do the actual purchase transaction?

To be more accurate, I have been using the shares purchased and the amount invested to determine the share price, or at least it seems a little more accurate to me (depending on decimal places). If you do use share price, I would think it would use whatever price it had at the time--maybe from a previous trade, or an update of some type prior to the transaction.

Are you downloading transactions directly from the investment firm?

Clark

Reply to
Clark

Is this a bond? Some investment firms download bond transactions with contradictory pricing.

For example - if you buy $1,000 face value of a bond at par, it may show as 1000 shares, but the pricing will be $100. I've also seen cases where the purchase transaction is OK but the next price downloaded is off by a factor of 100.

The normal way to carry bonds in Quicken is in multiples of $100 'shares', and with prices based on 100. But you're at the mercy of whatever your brokerage house downloads to you.

Reply to
Walt Bilofsky

That was the first thing I tried - no settings for commission or any of the other fees.

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Reply to
BC Berry

It is an employer sponsored tax deferred fund, the actual purchase is made by my employer and just shows up as a line item on my pay stub. I have the paycheck set up to in Q to transfer into [fundname] when the check is recorded. Q makes the transfer to [fundname] automagically and fills in all the blanks. Number of shares and cost per share appear to be estimated by Q using the last known cost per share. This estimation appears to be where the 100x comes into the picture.

When I get a statement from the fund, I adjust the number of shares purchased and let Q recalculate the actual price per share (which it does correctly or at least I've never seen the 100x thing happen when I adjust the number of shares purchased).

It's not too bad when only the current transaction gets screwed up since I have to manually adjust the transaction anyway. However, occasionally, all the register entries for the fund appear to get recalculated and all the entries in it become FUBAR.

It is not set up as a bond. I thought of that too. It does sound like something similar though. I can't find any options indicating a 100 anything.

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Reply to
BC Berry

It's not a bond. It's a company sponsored tax deferred fund. As such, no download is available. I have it set up as a tax deferred investment. See my reply to Clark for details.

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Reply to
BC Berry

So it is a 401K--there is a special line for that on the setup paycheck. If you don't call it a 401K, it might be something similar. I am not familiar with the way you set Quicken to buy the shares directly. I just did it manually or waited to download the transactions from the fund.

Is the funds transfer being handled correctly as far as Tax indications go? If you run a Tax Summary Report, do they show up in the correct box, i.e. not as income?

Clark

Reply to
Clark

I have manually corrected all the data. Next time it screws up, I will check.

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Reply to
BC Berry

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