Transaction type problem


I have been using Quicken for many years and this is the first time I have encountered this problem. I am running QW 2006 and have processed the same type of transaction twice before in the last week on the same fund ("A") with no problem.
I have 1000 shares of fund "A". I enter a transaction to sell 500 shares of" "A and use the proceeds to purchase shares of fund "B". Simple transaction however today the transaction for "A" is recorded as a "short sale" rather than a standard "sell" even though there is a balance of shares remaining. The purchase of fund "B" is recorded properly. Has anyone encountered this before.
TIA
Reply to
curmudgeon

I think quite a few people have encountered that before in various forms.
You might have created this problem if you allowed Quicken to compute the number of shares you bought (rather than letting Quicken compute the price per share). To correct that you should re-enter the purchases, specifying the shares bought. You can also try just telling Quicken to "Sell all shares in this account". (You can try that anyway as a test to see how many shares Quicken thinks you own).
If the problem is something else - say some corruption, I think it is still possible that re-entering purchases could correct it; though if it is corruption, you could also try a Validate. One other possibility would be to recalculate the account (select a transaction, then CTRL-Z). Backup before Validate or recalculate - and be extremely wary of recalculating a retirement account (Intuit recommends against it most of the time).
Reply to
John Pollard

On Tue, 10 Jan 2006 21:33:44 GMT, "John Pollard" wrote:
Even though it is recorded as a short sale, the share balance after the transaction is correct.
I have tried to re-enter the transaction several times with no change. As an experiment, I made a copy of the file then validated the copy. No problems found. I then tried the transaction on the copy with the same results.
One thing came to mind. Some of these funds were initially held in a simple IRA and some in a 401(K). After retirement, I rolled any funds held in two different accounts into the single simple IRA. All transaction being FIFO in nature, could the account be reflecting that original simple IRA shares have been exchanged and that it is now drawing from the 401(K) shares ?
Curmudgeon
Reply to
curmudgeon

That balance does not have a minus sign in front of it?
If you change the Sell transaction to "sell all shares", how many shares does Quicken sell? How does that compare to the number of shares sold short?
When you say you tried to enter "the" transaction, I infer that you are trying to re-enter the Sell transaction. I was talking about re-entering the transaction(s) that added the shares into the account in the first place. (Purchases, reinvestments, Shares Added, etc.).
If I understand you correctly, I do not think so; or I should say that I don't think that is the problem ... assuming the "rolling" process had no faults (yours or Quicken's).
How did you "roll" the funds into the simple IRA (in Quicken)?
Is it possible that one, or more, of your "purchase" (shares added, etc.) transactions has a future date; giving you an "ending balance" that is correct, but a "current balance" that is not?
Reply to
John Pollard

Follow up to my own post above. Issue resolved.
In going through the full account summary, I found that my FIFO assumption was wrong and that my recent transactions were all from the 401(K) lots transferred into the simple IRA. The transaction register does not show a distinction, but going to the summary page and expanding the account all lots are shown against their original account. The recent transactions were taken first from the 401(K) account lots (which were the last in) and then the original simple IRA. The summary page now shows a negative share balance in the 401(K) portion of the account but the original IRA shows its original full balance (there were no reinvestments). The difference between the two is the correct balance as shown on the register page. Apparently QW will accept the transfer of shares from one account to the other but will shows a short sale when all shares in one of the accounts have been sold even though the overall balance is correct.
Thanks to John Pollard and others who responded to this issue and made me dig deeper.
curmugdeon
Reply to
curmudgeon

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