have Quicken 05 deluxe and have done the coporate acquisition method to change share class to admiral mutual fund class. The only question I still have is that the admiral shares now show an average share cost and do not show individual share lot costs. Does this present an issue? Will I need to look up the costs under the original Investor share class purchases to determine this when I sell only some shares? Can I modify somehow to get the original costs shown?
thanks
alan
When you setup the admiral shares security, did you tell Quicken to use average cost?
I went back and read your thread from your posting last week, sorry I missed your further postings at the time. When you do the split method, you select keep all the old prices and do not go back and change the values for the new Admiral shares. Keeping the old prices keeps the total market value of the old shares there for value calculations etc., Quicken remembers when the split occurs and everything is fine. At least it was for my conversion. As you found out, using the corporate acquisition causes all the shares to go to average price. The only way to keep it is use the split.
Also, after you tell it to split, you did just go to the old security on the lsit and just change to the new symbol correct. The new six decimal places didn't bother you did it?
Isn't the change to Admiral share class NOT a taxable event? Your're not selling, or being forced to change anything, to your existing account. Why, then, would you modify your original costs? When you sell those shares, that is still the basis (+ any reinvestments, of course), is it not? I thought the change to Admiral shares affects the cost of the account reflected in perhaps lower maintenance fees or future share purchases, but nothing to do with existing shares already held. I could be all wrong here, however.
john I did not see an option to select average cost. Is there one or is there a way to adjust it now?
alan
I did as you mentioned in one of my securities using the split method. I was not happy about the 6 decimal places and perhaps I might go back and adjust, letting the share price get the extra decimal places.
Yes -change of share class is not a taxable event - although running a capital gains report shows the transactions but with zero capital gain. Not an issue. What I was saying is that the current admiral shows show an average cost which is not what I really want - I had noticed that last week which forced me to do the split shares approach. That worked fine but required effort in recreating theoretical share prices for years when there were no ADmiral class shares. It was manageable since I did not have that many transactions. In the conversions today, I go back 19 years or more and it is too much effort to enter all the theoretical prices although I think they can be imported if I use the right file format. I am hoping to still get "rid' of the average share price.
alan
Sorry, I don't have easy access to some earlier posts in this thread.
Either open the Security List or the Detail Security View and edit the security. There is an option to elect to use "Average Cost". I urge you to read all the Help on the subject first, and to backup your file before you elect to modify that option.
Also, if you want to utilize "lots" instead of "average costs", I would strongly support trying to revert to an earlier version of your file (just before the "Acquisition") and re-creating the new security not to use Average Cost ... though I would examine the possibility that Quicken may not allow you to create the "new" security before the "acquisition" ... I just can't remember at the moment).
As far as I know, Quicken's six decimal places option has no effect on any underlying computations that Quicken makes ... it only effects how many decimal places you see in Quicken reports. Frankly, I think you are better off seeing the results to the limit that Quicken allows.
John Thanks - I found the selection for average cost under security list - apparently Quicken uses this as a default setting but I never experienced this problem before in setting up a new fund - perhaps because downloading automatically avoids this setup. I was able to just make the settting change and everything restored it self properly with costs for each lot
alan
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