tag:infinitekind.tenderapp.com,2009-01-14:/discussions/switching-from-another-personal-finance-program/89-transfer-of-quicken-transactionsInfinite Kind: Discussion 2018-03-17T10:03:00Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-04-19T21:22:02Z2015-04-22T17:06:12Ztransfer of Quicken transactions.<div><p>Using Quicken for Windows and would like to migrate to MAC
financial software. Your user guide does not show an investment
transaction equivalent to Quicken's "Adjust shares in account"
which I have used frequently. What will happen to all the
placeholders created by that transaction when I try and transfer to
Moneydance?</p></div>Aileentag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-04-20T16:30:03Z2015-04-22T17:06:11Ztransfer of Quicken transactions.<div><p>Hi Aileen,</p>
<p>I'm not familiar with that function in Quicken, so I'm not
exactly sure how it will be handled. We do, however, offer a free
trial version of our software that you can use to test to find out
and see if the results work for you.</p>
<p>If you haven't already, I encourage you to download our free
trial version and experiment with the program before you decide if
you would like to purchase it. The demo version is fully functional
and allows you to manually enter 100 transactions. Imported
transactions are not limited, so you'll be able to fully test
connections with your bank. If you decide to purchase the program
at a later date you can keep all your data, the license key simply
unlocks the ability to manually enter more transactions. You can
download the trial version of Moneydance from here:</p>
<p><a href="http://infinitekind.com/downloads">http://infinitekind.com/downloads</a></p>
<p>For more information on how to get the most out of your trial
period, check out our <a href="http://infinitekind.com/blog/getting-the-most-out-of-your-moneydance-trial">
blog post on the subject</a>.</p>
<p>Please let me know if I can be of further assistance, and thank
you for your interest in Moneydance!</p>
<p>Scott Meehan<br>
Infinite Kind Support</p></div>Scott Meehantag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-04-20T18:10:23Z2015-04-22T17:06:11Ztransfer of Quicken transactions.<div><p>Hi Scott</p>
<p>Thanks for getting back to me. Regardless of how the transaction
is handled on conversion, I would want that functionality as a
transaction in Moneydance. So, is there some way to just adjust the
number of shares in an investment account other than with a buy,
reinvest, sell or transfer? If not, is it something you would
consider for a future enhancement?</p>
<p>Aileen</p></div>Aileen Fishertag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-04-21T18:28:53Z2015-04-22T17:06:11Ztransfer of Quicken transactions.<div><p>I am curious as to the event that causes the shares adjusting.
Moneydance is programmed on double entry accounting. The changes in
the various accounts are based on transactions occurring and the
consequences of those transactions on your accounts.<br>
Allowing the ability to make changes to accounts in the absence of
transactions justifying such is a difficult case to make to the
developers.</p>
<p>Tom Freeman<br>
Infinite Kind Support</p></div>Tom Freemantag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-04-21T21:57:33Z2015-04-22T17:06:11Ztransfer of Quicken transactions.<div><p>Tom,</p>
<p>there are a number of usage cases even some that Quicken
recommend, I can think of a couple from my days using the
software</p>
<ol>
<li>
<p>When using Dividend reinvest when the company tells you the
value of a share the software does a division that usually would
result in a fractional number of shares. Add/Remove is used to
round to a whole number of shares, the company would usually state
beforehand how they do the rounding.</p>
</li>
<li>
<p>There is a type of Mutual fund that invests in other mutual
funds where the investor determines which funds to invest in and
what ratio of funds. Thus the fund you invest in does NOT have a
unit price just a total value. In many cases it is difficult or
just plain too much work to maintain data on the individual funds
and transactions (i have one of these master funds that invests in
18 individual funds) In quicken you use Add/Remove (and the
software understands that in mutual funds it means
increase/decrease in value) to maintain the funds value in the
software.</p>
</li>
</ol>
<p>Tom, are you saying that MD is doing double entry transactions
based on the share price downloads to provide the displayed current
values? If so that would mean a lot of hidden revaluation accounts
and transactions. I doubt it would. Splits are also something that
while it does not change total values changes individual values, in
accounting books this would likely be a journal entry somewhere. So
while I am convinced MD follows many double entry practices I
believe there are some departures. It is in Investments is where I
believe these departures would be most often seen as what a user
wants and needs to do for personal financial management differs to
what is strictly done in a set of accounting books.</p>
<p>My 2 cents</p>
<p>Des</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-04-22T16:04:24Z2015-04-22T17:06:11Ztransfer of Quicken transactions.<div><p>Hi Tom</p>
<p>My use for this transaction is to correct user lapses in
updating dividend reinvestments in mutual funds. If you have over
20 mutual funds and the bond funds have monthly dividends it's a
lot of data entry when you only do it at the end of the year or
only if you buy or sell. So occasionally when you go to sell all
the shares of the fund you find there's some shares missing or
extra it's very time consuming to go back and find the error. In
that case I just update the number of shares which get sold so the
dollar amount of the sale and share price are correct. Not
necessarily a good excuse for this transaction but Quicken must
have added it for a reason as it is a relatively recent
capability</p>
<p>S</p>
<p>Sent from my iPad</p></div>Aileen Fishertag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-04-27T12:50:35Z2015-04-27T12:50:35Ztransfer of Quicken transactions.<div><p>@dwg Moneydance does have a number of hidden transactions for
the revaluation of Investments because of splits and other
transaction types. This is why programming the investment accounts
have been so problematic.</p>
<p>Specifically addressing the fractional shares for dividend or
splits, if a company does not allow fractional shares there is
usually a transaction for "cash in lieu of" which increases your
cash balance in the investment account. This also adjusts the cost
basis appropriately</p>
<p>As for #2, we have had some issue with certain UK investment
types such as unit trusts which don't fit the traditional share
price model. Since the funds are based on a total value it is
easier to class these as asset account rather than investments. An
investment is a type of asset account and the asset account gives
more options in transactions.</p>
<p>@Aileen. When you get your year end statement, you should be
able to run a investment transaction report edited for this account
and this year and it should mirror your statement. So finding
missing entries should be easy. Also many people use the online
banking feature to download transactions into their investment
account and only use their statements to reconcile.</p>
<p>The issue that the developers want to to avoid is that allowing
a user to change share count and share price without corresponding
transactions could lead to errors in cost basis reporting as well
as deviating from the double entry bookkeeping that Moneydance is
based on.</p>
<p>Tom Freeman<br>
Infinite Kind Support</p></div>Tom Freemantag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-04-27T22:05:42Z2015-04-27T22:05:42Ztransfer of Quicken transactions.<div><p>Tom,</p>
<p>When I first migrated to MoneyDance I did try the Asset type for
these investments, however I was not satisfied with the performance
monitoring reports I could get out of this type.</p>
<p>I did work around the fraction share issue by not using DivReinv
but by doing a Dividend then a Buy then a Misc inc or Exp to get
rid of the remaining cash balance when I was faced with this
situation.</p>
<p>There needs to be some hidden transactions for Return of Capital
too :)</p>
<p>I'm thinking there needs to be a concerted effort to get share
transaction handling up to the level it should be at.</p>
<p>The other usage case for add and remove shares is splits now
that you mention them. I see many cases where they result in a
fraction number of shares that needs to be dealt with, fiddling
with the split ratio gets rather tiresome and doesn't always
work.</p>
<p>Des</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/366193542015-05-04T12:02:12Z2015-05-04T12:02:12Ztransfer of Quicken transactions.<div><p>I will pass this feedback on to the developers</p>
<p>Tom Freeman<br>
Infinite Kind Support</p></div>Tom Freeman