CD PRICES TD to Schwab Transition

[ricbertsch]

Everything went well except with the CD's. We are receiving out of Balance Shares on all CDs. Example: 11 CDs at TD value of $11,000 were priced at 100 and when reconciled both Price and Number were correct. After the Transition I am getting an error on the number of CDs. In the given example when reconciling I have an out of Balance # of Shares. FM showing the 11 shares and Schwab showing 11,000, pricing them at $1.00 for a value of $110. While I can correct the price to reflect the correct value of $11,000 I will still have an out of Statement Balance of 10,890 shares. Any suggestions on correcting this? Thanks

[Mark]

Hi ricbertsch,

Interesting... Probably the easiest way to deal with this is to record a reverse split in your CD with a ratio of 1 for 100. On this same date, also start recording the price at $1 instead of $100. This will get you 11,000 shares at a price of $1/share.

[ricbertsch]

MArk - Thanks I will give that a try