OFX transaction dilemma

harphauler hurst.lou at gmail.com
Thu Feb 5 22:24:02 EST 2015


I am converting from Quicken to Gnucash and have an issue that is similar in
both Quicken and Gnucash with downloaded brokerage dividend reinvested
transactions.

To set the stage, I am able to accomplish what is needed manually in
Gnucash, and by editing the same transactions in Quicken.  I firmly believe
my brokerage is reporting reinvested dividends correctly, i.e HOLDING A pays
a dividend of $50.00 and reinvests that amount in 5.856 new shares of
HOLDING A.  HOLDING B pays a dividend of $50.00 but reinvests only in an
even number of shares so $48.00 is reinvested at 8.00/share.  As reported on
their website and month-end statement this is how it appears:

02/04/2015	HOLDING A	Dividend                   + $50.00
02/04/2015	HOLDING A	Dividend Reinvested    - $50.00
				+ 5.856 shares @ $8.54

02/03/2015	HOLDING B	Dividend                   + $50.00
02/03/2015	HOLDING B	Dividend Reinvested    - $48.00
				+ 6 shares @ $8.00

If I download these transactions in Quicken what happens is I have a $50.00
HOLDING A dividend and $50.00 dividend shown in the cash account and a
HOLDING A 5.856 shares reinvested and HOLDING B 6 shares reinvested in the
stock account.  If I accept things as is I wind up with 5.856 shares extra
of HOLDING A and 6 shares extra of HOLDING B.  I have two options:  I can
delete the dividends in the cash account but the cash will now be $2.00
short on account of the HOLDING B transaction.  The second option which I
use is to retain the dividends in the cash account and edit the two dividend
reinvested transactions in the stock account to a buy transaction.  There is
more work involved in the HOLDING B transaction, I need to go to the
brokerage website to determine the number of shares reinvested.

In Gnucash, if I do nothing with the downloaded transactions I wind up with
an extra $50.00 cash from HOLDING A and $48.00 cash extra from HOLDING B in
the cash account.  Unlike Quicken, if I use the transaction that results in
$48.00 extra, it can be edited locally because it will show the number of
shares that were bought/reinvested using auto-fill.  Regardless, there is a
little more work involved with Gnucash and it's hard to keep track of say
six to eight of these transactions weekly in various accounts.

My question then, is there an easier, more efficient way of handling these
transactions and eliminate the extra cash?

A little more back story on this.  I have been working with some very nice
people in the IT department of our brokerage; I do some limited beta testing
for them on a limited basis.  Stated briefly, they, along with a handful of
other brokerages have been working with Intuit to resolve this issue. 
Basically their hands are tied by Intuit's QFX format requirements.  I
honestly don't think they're trying to make me go away by blaming an issue
on an outside source.  Rather they're trying to report transactions in a
manner, in their opinion (and mine also) that is correct and in this case
results in an annoyance.

Thanks.



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