tracking cost basis

[resolution]

I was wondering what methods you all use to track your cost basis on investments, or is this something that is OK to let the brokerage do? I opened my first taxable account last year at Vanguard, and I had just assumed I could let the brokerage track it. However I have been reading and it seems like I should also be tracking it personally. I haven't been printing out my transaction receipts but it is not too late to print them all out and file them.

What is the best way to track? I have an old version of Quicken that can track it, but it is just using the same numbers that it downloaded from Vanguard. Right now I have just been buying the S&P 500 once a month and reinvesting dividends. Once I get more money in the account I may try adding other funds and some individual stocks.

[ModE98]

I use my confirmation slips dowloaded from Scottrade and retain them. Also, download my monthly statement which covers all transactions. And, use Microsoft Excel to list everything in simple, printable chronological order in spreadsheet form. Works for me.

[Deleted]

Keeping your own Set of Books for your Transactions, Dividends, Etc. Is ALWAYS a good idea. It allows you to spot a Discrepancy as and if it happens..
Which makes it a lot easier to figure out what is going on and what questions to ask, at the right times..

I personally keep Extensive Personal Records of everything. I want to know where every Penny is and where it goes - and why and what for.

LOL, When you are talking to a Brokerage and they know you keep your own set of Books - They take you a fair bit more serious and will go to great lengths to track down an error..

But this is my opinion and My experience.