Message: You should use two transactions

Overview

When selling, removing, or transferring all shares from an investment account (closing a position), you may receive the following message:

You should use two transactions: one to sell the shares you hold and one to create your short position.

Instructions

Verify that the number of shares held is correct for the selected security. Often, a duplicate security with a different spelling will hold the remainder of shares.

To verify the number of shares held:

  1. From the Quicken Investing menu, choose Security List.
  2. Click Options, and then select View hidden securities.

To verify the number of shares held by each security: 

  1. From the Quicken Investing menu, choose Security Detail View (in Quicken 2010, select Investing Tools first).
  2. Select the security from the drop-down list in the upper left corner.
  3. Under Holdings, verify the number of Shares Held:
    1. If the number of Shares Held is lower than expected, determine whether there is a duplicate security that also contains holdings.
    2. If there is a duplicate security, correct the share balances of the securities in question.

To resolve unusual ratios:

  1. From the Quicken Investing menu, choose Security List.
  2. Select the security, and then click Report to generate a Security Report.
  3. Double-click a security transaction to open the form.
  4. Enter the correct price in the Price after split field, and then click Enter/Done.

To resolve fractional shares:

  1. From the Quicken Investing menu, choose Investing Activities, and then choose Update Share Balance.
  2. Complete the Update Share Balance form, and then click OK.

    Note: To update cash balances, click the Transactions tab in the investment account.

If the message persists, it may be necessary to replace the stock split transaction. If possible, simplify the split ratio. For example, a 67 for 45 stock split could be simplified to 3 for 2 plus a small Share Balance Adjustment. (See balances, adjusting in Quicken Help for more information.) Any Sell transactions that occur after the stock split should be replaced as well.

It is possible that information may have been lost or damaged during these processes. This information can be rebuilt by recalculating the investment register.

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Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.