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Author	Topic: Old Security Acq Dates Not Properly Handled
ahgatto Member	posted 11-12-2001 10:59 PM I have clients that own securities which have very old acquisitions dates like 1925 and 1930. Often these securities were received as the result of a trust distribution and have carryover holding period and basis to the recipient. The program does not seem to be recognizing these old dates properly. When I try to update investment prices I get an error message that says XYZ stock was not owned on that date update anyway? The program is reading an acquisition date of July 1, 1930 as July 1, 2030 and thinks it has not been purchased yet. Also, when I run a portfolio analysis report those securities are not found because the program thinks they do not exist yet. ------------------ ahgatto IP: Logged
John Administrator	posted 11-14-2001 08:59 AM Dates entered with the year less than 40 are consisted to be 20xx. In this case enter the dates such as Jul 1 50 and it will be consisted as 1950. Since all these dates will be consisted as long term for tax purposes then the exact year is not critical. IP: Logged
ahgatto Member	posted 11-14-2001 09:55 AM The problem with your suggestion is that makes me input an incorrect date just to force the software to work correctly. I agree that for tax purposes it is still long term but there is more to life then tax. Every investment report or capital gain report I print out will have the wrong dates and the integrity of the information is comproprised. I will need to go and manually change every report by hand so that it will be correct and keep a separate list of what the real dates are. Say I list 10,000 shares of GE on an investment report with a cost basis of $600 and an acquisition date of July 1, 1950. Someone looking at that would say that does not make sense for such a low basis. However, If the acquisition date was 1925 it would make more sense. FN is the only accounting software product where I have encountered this problem. I am sorry if it sounds like I am venting but it is very frustrating to have to deal with so many "work arounds" and limitations with a program that is as expensive as FN is. ------------------ ahgatto IP: Logged

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