Money Market cost Basis
I recently imported my investment data from Quicken for Mac 2007 and all in all it went pretty well. The only issue I have right now is that my cost basis for my money market account is different than what was exported and what the present value is. (Since money market's always trade at $1.00, the cost basis and market price should be the same, they are not in this case.) I have reviewed all of the transactions imported and find all the trades occurred at the $1 value, so my cost basis should equal the market value.
Any help in rectifying this is appreciated.
2 Posted by -Kevin N. on 03 Jan, 2012 09:59 PM
Hi James,
Access the Investment account that holds the MM fund in question. In the 'Portfolio View' click on the MM fund.
This will bring you to the 'Securities Detail' view of the MM fund. Look to the graph it should be a flat line @ 1.00. Above the graph, the 'Price' should be 1.
If it is not, then click the 'History' button. In the resulting form, make sure that the 'Current Price' is set to 1. If not, make it so and click 'New'.
If you see that there are many erroneous prices listed in the Currency / Security History table, rather than manually deleting them all, you may want to click on the 'Clear' button. Next click the 'Import' button. In the resulting 'Import Price History' form, select the 'Import From Transactions' radio button, click 'Import'.
Afterwards check the 'Price' the 'Current Value' and the graph.
Finally, If you are using the Quotes & Exchange Rates updater, open it and un-check your MM fund so that the Q&ER Updater no longer updates it's price.
HTH -Kevin N.
3 Posted by jhvanhorn on 04 Jan, 2012 12:50 AM
Hi Kevin and thanks for your reply.
In my first import I noticed that Quicken exported some incorrect prices, so I went back and corrected them in Quicken and reimported the quicken file. After doing so, the graph is flatlined @ $1 and the current price shows $1. The history file also shows no values other than $1.
The discrepancy between the cost basis and the market value is only $0.03 which is probably not meaningful, but even so it should not be off. Any other thoughts?
James Van Horn
4 Posted by -Kevin N. on 04 Jan, 2012 01:07 AM
Hi James,
I'm afraid that your issue is beyond my understanding of 1's and 0's. I will yield to those more knowledgeable to help you further.
I do recall another user having an issue of their entire Net Worth having a discrepancy of a few cents but I don't think it was ever resolved. You can read about it here:
http://help.infinitekind.com/discussions/problems/2843-net-worth-am...
Sorry, I couldn't be of more help.
-Kevin N.
5 Posted by -Kevin N. on 04 Jan, 2012 01:20 AM
Hi James,
Pondering this a bit. I can come up with a scenario of a DivReinvest or a Buy txn being entered for zero shares for a total of .03 cents. I thnk this would create the discrepancy that you are experiencing.
Go to the 'Securities Detail' view of the MM fund, look to the upper left-hand quadrant at all of the txns for the MM fund. See if any of them are for zero shares but with a figure in the Amount column.
HTH -Kevin N.
6 Posted by jhvanhorn on 08 Jan, 2012 07:37 PM
Thanks but that does not help either. I have no transactions of zero shares.
7 Posted by -Kevin N. on 08 Jan, 2012 09:38 PM
Hi James,
A couple of longshots...
Looking to that same list of txns in the 'Securities Detail' view, do they all reflect the $1.00 NAV?
While viewing the Home Page, type .03 into the Search field in the upper right-hand corner to see if it reveals any errant txn that might account for the discrepancy.
Yours is an interesting anomaly.
-Kevin N.
8 Posted by jhvanhorn on 09 Jan, 2012 01:27 AM
Thanks for your help, but he mystery remains. All transactions reflect the $1 NAV and no money market transactions appear in the search results.
James
Support Staff 9 Posted by Tom Freeman on 09 Jan, 2012 08:51 PM
James
Have you run a cost basis report and tried to narrow down when the discrepancy started?
Tom