Microsoft KB Archive/194568

Duplicate Dividends After Downloading Brokerage Statement

PSS ID Number: Q194568 Article last modified on 10-22-1998

WINDOWS:

WINDOWS

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The information in this article applies to:

 Microsoft Money 99 == Microsoft Money 98 == 

= SYMPTOMS =

After you download your brokerage statement from Fidelity Investments, your Dividend transactions are entered twice. As a result, performance and gain calculations in Money are incorrect.

= CAUSE =

This problem occurs because of the format of the data being downloaded into your Money account. Fidelity sends a Dividend transaction followed by a Reinvest Dividend transaction. While this process is similar to the way in which these transactions are reported on a paper statement, this is not how Money enters a Reinvested Dividend transaction. Money handles a Reinvested Dividend as a special-case activity.

In Money, a Reinvest Dividend transaction is interpreted by the program as a Dividend plus a Buy transaction. Therefore, when you download the separate transactions from Fidelity, Money stores the information for two Dividend transactions and a Buy transaction.

= RESOLUTION =

To resolve this issue, change the Reinvest Dividend transaction you downloaded to a Buy transaction. To do this, follow these steps:

  After you download a brokerage statement from Fidelity Investments, enter it into your account register as you normally would, and then make a note of all Dividend transactions that are followed by Reinvest Dividend transactions.   Go to the Investment Account Register.   In the register, click the Dividend transaction. Note that the Transfer To field shows that the funds for this dividend were transferred to the Associated Cash Account.   In the register, double-click a Reinvest Dividend transaction.   In the Activity field, click Buy. </li>  In the Transfer From field, click the appropriate Associated Cash Account. </li>  Click Enter. </li>  Repeat steps 3-7 for each combination of Dividend and Reinvest Dividend transactions you downloaded from Fidelity. </li></ol>

NOTE: Financial Institutions are responsible for the formatting of data sent to their customers in Microsoft Money. If you have any concerns regarding this issue, please contact your financial institution.

= STATUS =

Fidelity is aware that a Reinvest Dividend transaction is a special case in Microsoft Money. Fidelity is currently investigating ways to resolve this problem.

= Additional query words: w_money 7.0 6.0 OFX dup double extra twice wrong =

Keywords : kbonline mnyinvest Version : WINDOWS: Platform : WINDOWS Issue type : kbbug Solution Type : kbpending ============================================================================= Copyright Microsoft Corporation 1998.