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How To Reconcile an Investment Account Statement

Updated: 8/19/2011 | Article ID: GEN82476

  1. Open the account that you want to reconcile.
  2. Choose Investing menu > Investing Activities > Reconcile an Account.
  3. Using information from your account statement, fill in the starting and ending cash or share balances, as well as the statement date.
    • 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.
    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 Finished when all the transactions on your statement have been marked.
    Or, 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.

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

 
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