Cannot enter a fractional number of Income Units in a Managed Fund Account in Quicken 2012

Legacy KB ID: 4339

Question

Why does Quicken 2012 prevent me entering a fractional number of Units to my Managed Fund Account when I use the new Reinvest – Income Reinvested transaction type?  I can’t enter my income distribution correctly.

Answer

Quicken extends the share investment model to Managed Funds to allow users to track their Managed Fund investments.  Managed Funds are based on units not shares and a fractional number of units are allowed whereas a fractional number of shares cannot be held. 

Changes made in Quicken 2012 means that dividend reinvestment will no longer calculate a fractional number of shares, as previous versions did.  This also means that fractional number of units assigned as Managed Fund income will not be accepted. 

Furthermore, in most instances, the price per unit the income will be reinvested will be less than 1/1,000th of the total amount, so the Reinvest – Income Reinvested module will not process the transaction properly – see kb 4338.

 

Workaround:  Accept the income distribution as cash and buy the units for the reinvestment

1.    Accept the income distribution through Record an Income Event transaction;

2.    Buy the new units through Buy – Shares Bought from the Cash Balance of your Brokerage Account;

 

How did we do?

Related Articles

Powered by HelpDocs (opens in a new tab)

Powered by HelpDocs (opens in a new tab)