How do I reconcile an investment account statement?
When you receive a statement from your broker, you can clear eachtransactionthat 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.
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 shouldupdate your balanceinstead.
Click(the Account Actions icon), and then chooseReconcile.
Using information from your account statement, fill in the starting and ending cash or share balances, as well as the statement date.
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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 themarket valueof 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 anRin 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.
ClickOK.
For eachtransactionthat 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.
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For each transaction you select, a check mark appears in theClrcolumn. If you have a large group of transactions to select as cleared, you can select them in a single operation.
ClickDonewhen 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.
