Transfer from Quicken'17 Win, stock spin-off handling issues

Skip's Avatar

Skip

13 Aug, 2019 11:37 PM

Hi all,
I've finally made the jump to attempt to move away from Quicken. I currently have Quicken 2017 for Windows. I have created the QIF, imported into MoneyDance 2019.

Generally the import went smoothly (much better than importing form Quicken Mac2007 to Quicken windows.. that was atrocious). there are few errors here and there, but so far I think I can clean it up.

One thing that has stumped me is how Quicken handled stock spin-offs, and how MoneyDance is handling it.

assume I've imported investment account name: Fidelity-Personal into MD.
1. there's a lot of "RtrnCapX" that shows up in MD, that is supposed to transfer the cost basis delta to a separate ledger account (e.g. "Fidelity-PersonalX") where all the "imaginary cash flow" funds seem to be piped through. since the funds generated by the RtrnCapX SHOULD be funneled to the "Fidelity-PersonalX". however, instead of adding/subtracting the fund in the "Fidelity-PersonalX" account, it subtracts from the cash balance of "Fidelity-Personal", which messes up my available cash balance in the "Fidelity-Personal"investment account. How do I fix this? (i have so many spin-offs, and all this subtraction is making my cash balance waaaaay into negative...)
2. Quicken, when it adjusts cash balance in the accounts, it effectively transfers money to/from the same account. meaning, if you are in account named "investment", and after balance adjustment, you need to add $200.. then in the category, it sourced the $200 from itself [investment] since Quicken must designate an account (and not category) to track the money flow. this [investment] cash transfer shows up as [investmentX] in MD. is there any way to change the category (in either Quicken before I export QIF, or in MD after I finish importing) to some non-bank account category (e.g. some "adjustment" category that I will later exclude from budget/financial reports) and get rid of these extra accounts that just clutters up the sidebar, etc?

  1. 1 Posted by skip on 13 Aug, 2019 11:47 PM

    skip's Avatar

    Actually, it's all the RtrnCap function that is subtracting from cash balance regardless of whether it's piped through to another account (see attached jpg).

    I've tried to find more about the rtrncap function in MD, but I can't find any documentation on how that is being handled...

    so perhaps someone can explain to me what does "RtrnCap" and "RtrnCapX" does in MoneyDance? it's clearly not doing what I think it should be doing...?

  2. 2 Posted by skip on 13 Aug, 2019 11:55 PM

    skip's Avatar

    oh, NVM. I found out how the RtrnCap is being handled.. both in quicken and MD...

    can delete this thread!

  3. 3 Posted by dwg on 14 Aug, 2019 04:59 AM

    dwg's Avatar

    I'm a fellow user.

    At this time Moneydance does not have a RtnCap action type. Hence what you see on the second line in the second transaction is just free form text, which is valid in bank type accounts and is also valid in the second line of a investment account transaction, the actual action type is Xfr which is just a transfer.

    If you want Moneydance to be able to handle return of capital transactions, then you can post a suggestion to add to the number of times it has been raised and/or email the developer directly.

  4. 4 Posted by skil on 14 Aug, 2019 05:17 AM

    skil's Avatar

    Hi dwg
    thanks for your reply. I guess Moneydance can enter action type that isn't supported? how can that be?

    I guess for the time being, I'll just have to keep the cost basis record from Quicken... ugh.

    I will definitely contact the developer via support. There is very litle documentation on how the stock entries work with its cryptic two-line transaction.., and it's a bit confusing. I'm still doing some trial and error to see how I can move over my Quicken file that dates back to 1997...

  5. 5 Posted by dwg on 14 Aug, 2019 06:29 AM

    dwg's Avatar

    In the Investment register the action type is on the first line of the transaction only, you cannot enter invalid action types into such accounts.

    In your screen image it means for the first transaction the action is DivReinvest and for the second Xfr, both of these are valid actions.

    There are a number of approaches that can be taken to account for the transaction. If you want to maintain lot information in Moneydance the only way is to sell each lot at its cost price then do a purchase at the reduced price, personally I find this messy and a lot of work.

    If you maintain lot information outside of Moneydance or have no need for it, you can set the investment to use Average cost and then for the value of the Capital return use a sell transaction with zero shares and the total value of the return.

Reply to this discussion

Internal reply

Formatting help / Preview (switch to plain text) No formatting (switch to Markdown)

Attaching KB article:

»

Already uploaded files

  • rtrncapx.jpeg 62.5 KB

Attached Files

You can attach files up to 10MB

If you don't have an account yet, we need to confirm you're human and not a machine trying to post spam.

Keyboard shortcuts

Generic

? Show this help
ESC Blurs the current field

Comment Form

r Focus the comment reply box
^ + ↩ Submit the comment

You can use Command ⌘ instead of Control ^ on Mac