Can I download a qfx transaction file from Interactive Brokers into Personal Plus?

Shane Smith

Can I download a qfx transaction file from Interactive Brokers into Personal Plus? I have an account with U.S. based Interactive Brokers. I set it up with the base currency as AUD and I have ASX shares and U.S. listed shares, which of course use USD. In Reckon Personal Plus (2015) I set up two accounts to manage the ASX and U.S. shares. I want to download a qfx file (Interactive Brokers allows download to Quicken with a qfx file)? Can I set it up to do this?

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Shane Smith

Kevin, thanks for the reply.
I just checked it again and it is definitely a qfx file. I presumed it stood fro Quicken transfer file. They, IB, allow download to Tradelog, Quicken or Money, and Excel or Word with a HTML web file.
When I contacted Interactive Brokers some time ago (years), they said it was possible to download to Quicken, but when we tried and it failed, they suggested that it may be some problem because I had an Australian version of Quicken, or that I had opted for a base currency in AUD rather than USD. What do you think?
Perhaps I need to somehow separate my data download from IB into two files reflecting my ASX and U.S. share accounts, to download into each separate account on Reckon? 
Can you offer any suggestions? Or do you have any knowledge of the Interactive Brokers system?
For a long time I have just entered all my data manually, and with around 100 stocks, half U.S. and half ASX it would save a lot of time if i can download automatically. Much obliged for any help.  Shane

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John G

Hi Shane,

Yes, QFX is the file format to transfer share transactions from a broker account into your Reckon Accounts Personal Investing portfolio.  Its sort of the share counterpart to the QIF file for bank transactions.

However, Reckon Accounts Personal (the old Quicken) is configured to use this file with just one broker - E*Trade - and to work in Australian Dollars.

Its possible to use a qfx file from another source if it matches our qfx configuration and version, but if that file is in a foreign currency, the amounts will still be listed as Australian Dollars.

So unfortunately for your US Interactive Broker details, you will not be able to get those transactions in the right currency.


regards,
John

Shane Smith

Hello John, 
Thanks so much for the comprehensive reply. So it looks like I will have to see if they will separate my files somehow (they probably can't do it anyway), and see how much time it saves me. I have a large portfolio and any time saved would be good. But it is not going to kill me if it can't be done.

John, I realise your just responding to my query, but is it possible for you to answer another question for me? I am wondering why we have always been able to get fundamental data (P/E ratio, Div. Yld., P/Book, etc.) and yet we have never been able to get fundamental financial information on Australian stocks? Since Reckon is now more focussed on Australia, will we soon be able to get this data download with our prices?

And if I have some suggestions for the software, where can I send them?
Regards,
Shane

John G

Hi Shane,

If you have a large portfolio why not run your US investments in a separate file?  It will still show as AU$ but you will know its US$.  (You may need to set the AUD/USD rate at 1.0000.)

Then have an asset account in your main file for the US portfolio file's net worth.

For more stock information see HUBB Investor - a link is provided at Tools > Reckon HUBB Investor.

For suggestions, you can either enter a post here in the Community as an Idea, or inside the software at Help > Submit Feedback on Reckon Accounts.

Hope this helps.

regards,
John

Shane Smith

Thanks for the suggestion John. Since it is a SMSF I have to account for the exchange rate on the date of every transaction, so the U.S. side of it is quite involved. I rely on IB for the end of financial year dividend reports, which saves me having to find the X-rate for any given day's dividend, and I manually enter the trades with the correct day's X-rate. So I think it is better to keep going like this to satisfy the auditor. Thanks again for your input.
Shane