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Preferred Stocks: quotes, reconciliation, transactions

Questions about updating prices or transactions in Fund Manager

Postby dlevy » Tue May 13, 2014 9:17 pm

Continuing my evaluation and a new problem...

The thread http://fundmanagersoftware.com/forum/vi ... mbol#p7424 discusses some issues with preferred stocks.

The recommendation was to use the Yahoo symbol (example PRE_PD) as the symbol so you can get quotes. The thread said that transactions are matched by CUSIP, so updating transactions from a broker will apparently work. (I haven't yet tested this)

What I have discovered is that reconciliation is based on symbol. Schwab uses PRE+D as the symbol for the above preferred stock and does not reconcile with the position with symbol PRE_PD.

Is it possible to make things work for quotes, reconciliation, and transaction updates? If not, what are best practices here?
dlevy
 
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Postby Mark » Tue May 13, 2014 9:36 pm

Hi dlevy,

Are you reconciling with a statement retrieved from your broker? If so, this reconciliation is done via CUSIP if a CUSIP is recorded. If not, it will revert to using the symbol. Just make sure you have the CUSIP recorded, and then the symbol isn't used for reconciling. When you retrieve transactions/positions from your broker, and FM creates new investments, it will fill in the CUSIP with the CUSIP reported by your broker.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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Postby dlevy » Tue May 13, 2014 10:09 pm

Yes, thanks (again for such a quick reply).

Yes, I am reconciling electronically with Schwab (CNTL-R).

With your suggestion, I found a series of steps that worked.

I manually entered the CUSIP for the investment, leaving the Yahoo symbol. I still was not able to reconcile the position with Schwab. But then, I retrieved transactions from Schwab and with the CUSIP it was able to match up the transactions with the investment. And with that, reconciliation worked.
dlevy
 
Posts: 72
Joined: Tue May 13, 2014 4:42 pm


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