How do I reconcile an investment account statement


When you receive a statement from your broker, you can clear each transaction that appears on your statement and then adjust the transaction list if necessary. You can reconcile investment and mutual fund accounts in the same way as you do a checking account, except that in a checking account, you reconcile a cash balance, and in an investment account, you reconcile a cash balance and share balance.

  • Transaction - In Quicken, a transaction is any item that increases or decreases the balance in an account register (such as a payment, deposit, or transfer

A single mutual fund account has no cash balance, so you reconcile only the share balance. After you reconcile the share balance of a mutual fund account, Quicken displays your new market value in the Share Balance Reconciled window. Quicken automatically adds the latest price to the price history for the security.

You can't reconcile a single mutual fund account when a stock split transaction is present. You should update your balance instead.

  1. Open the account that you want to reconcile.
    • Reconcile - Making sure that there is agreement between the statement you receive from your bank or financial institution and your Quicken register.
  2. Click Account Actions icon, and then choose Reconcile.
  3. Using information from your account statement, fill in the starting and ending cash or share balances, as well as the statement date.
    • Tell me more
      • Starting Share Balance displays the share balance as of the last time you reconciled. If you're reconciling for the first time, this is the share balance for the initial ShrsIn transaction.
      •  Enter the total number of shares from your statement (Ending Share Balance).
      • Enter the ending price per share. Quicken uses the price you enter in the Ending Price per Share field to update the market value of the account.
      • Starting Cash Balance displays the cash balance as of the last time you reconciled. If you're reconciling for the first time, it's the cash balance for all transactions marked with an R in the transaction list (ShrsIn transactions and balance adjustments).
      • Use the Ending Cash Balance field to enter the cash balance from your statement.
      • If necessary, change the Statement Ending Date field to reflect the statement.
  4. Click OK.
  5. For each transaction that appears on your statement, click the corresponding transaction in the on-screen list. At the end of this process, the difference in the lower-right corner of the window should be zero.
    • Tell me more
      For each transaction you select, a check mark appears in the Clr column. If you have a large group of transactions to select as cleared, you can select them in a single operation.
  6. Click Done when all the transactions on your statement have been marked.
    • What is meant by Finish Later?
      Click Finish Later if you want to suspend the reconcile process and come back to it later. The next time you reconcile, the window will show the transactions marked and unmarked as you left them.

Notes

If your account is reconciled, Quicken gives you an opportunity to update your security prices.

If your account is not reconciled after following the steps above, then Quicken lets you make adjustments to your account.

 

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