Reinvested dividends showing up as dividend+purchase

[jc76fundman]

When retrieving transactions from one particular financial institution, the retrieved transactions get logged in Fund Manager as an non reinvested dividend + subsequent purchase. I would prefer it get logged as a reinvested dividend.

I presume this is determined by the financial institution. Is there anything I can configure in Fund Manager to log it as a reinvested dividend?


Thanks

John

ps I am using:
Fund Manager 2014
Personal Version: 2014.13.8
Quote Module: 518
Transaction Module: 229

[Mark]

Hi John,

There is an option in the current FM 2018 version in the transaction retrieve (Advanced Options...) dialog called "Record Matching Purchase/Distribution as Reinvestment" designed to handle this situation. I don't recall if that option was available in FM 2014, but you can look. If so, turn that on, and if the distribution is the same value and date as the purchase then FM will combine them into a single reinvestment instead of 2 separate distribution/purchase transactions.

[jc76fundman]

I have upgraded to FM 2018 and retried downloading the transactions with ""Record Matching Purchase/Distribution as Reinvestment" enabled. The transactions are still being recorded as non reinvested dividend + purchase because my financial institution, in their infinite wisdom, has the date of the purchase two business days after the date of the dividend. So in one case, the distribution is on 4/30 and the buy is on 5/1. In another, the distribution is on 3/29 and the buy is on 4/2.

[Mark]

Hi jc76fundman,

Yes, that would prevent this feature from automatically recording them as a single reinvestment transaction. You could either manually change them, or leave them as separate distribution/buy transactions.

[jc76fundman]

You could either manually change them,

Can you elaborate on this option? I see a "edit data" option when right clicking on a row on the "Preview Importing Transactions" dialog, but it appears to only open the Data Register which doesn't yet contain the transactions.

Is there an easy way to convert a purchase into a reinvested dividend or non reinvested dividend into a reinvested dividend? The only way that I know is to delete the entry in the Data Register and then readd the entry to the Data Register as a different data type. Is there an other options?

Thanks..

[Mark]

Hi jc76fundman,

You'd have to do the manual entry after the transaction retrieval is complete. Use the Data Register. Note (or copy) the number of shares in the purchase and the purchase price. Delete the purchase transaction, and edit the distributed distribution transaction, and change it to "Reinvested", and then enter the shares/price, such that the total distribution value remains un-changed, and the shares were the number of shares from the deleted purchase. You should end up with no default cash transactions due to this distribution.

[sspeed]

I'm having the same issue. I have the "Record Matching Purchase/Distribution as Reinvestment" option checked and all transactions are on the same date.

In my case it looks like Fidelity split out the distribution as Dividend received, Short-term cap gain and Long-term cap gain. Fund Manager then just takes all 3 and logs them as a Purchase.

[Mark]

Hi sspeed,

For that option to work, the value/date of the distribution and purchase must match. So, if you have 3 different distributions, plus a single purchase summing those 3 distributions, that wouldn't be a match. It only works if you have a distribution for $X on date Y, plus a purchase for $X on date Y.