Downloaded transactions incorrectly labeled as Div or Buy when they are DivReinvest

CJ's Avatar

CJ

16 Feb, 2020 01:22 PM

I am currently on a MD trial period to determine its usefulness to me.

I have downloaded transactions from my financial institution and these downloaded transactions are incorrectly labeled as Div or Buy when they are DivReinvest. This then changed the cash balance in the account and now it is incorrect. There is no way to determine which Buy or Div transaction is really a DivReinvest without logging on to your financial institution and browsing your transaction activity FOR EACH ACCOUNT ON EACH FINANCIAL INSTITUTION WEBSITE. How is this better than downloading to a spreadsheet for free.

If there is another way to determine incorrectly downloaded/translated transactions, I would sure like to know the secret. It is a SERIOUS flaw in this program that it can not seem to read these actions correctly. The MD customer base will not increase with these kinds of bugs and is NOT worth the money.

  1. 1 Posted by dwg on 16 Feb, 2020 08:27 PM

    dwg's Avatar

    I'm a fellow user.

    A financial institution could represent such a transaction as either a Dividend Reinvestment or as a combination of a Dividend and separate buy transactions, either is quite valid.

    If they are only showing a buy transaction there is little any software could do to correct this, software can only work with the data is provided to it.

    If you are manually downloading the transaction files you could open it in an editor or word processor to see if the transactions are correct in the file.

  2. 2 Posted by dantdavis on 16 Feb, 2020 09:12 PM

    dantdavis's Avatar

    CJ - as I stated in the other thread you started: (edited below)

    I have found that OFX information from companies can often be incorrect. Even in Quicken, day to day, I often have to "correct" info (like dividends/reinvestment) to make it work in Quicken. So, I have found similarly that MD can't do anything different with the same bad input.

    Also, during this test, you may get long historical data that might work during the present day, but when downloaded as history, is no longer accurate, when at one point it was.

    I had a lot of issues with the MD conversion, but tried to note when it was the same issue within Quicken. QIF imports are problematic, but I saw that MD imports QIF files BETTER than Quicken does. As to this issue, imports are basically the same.

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