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Number of shares for money market fund is incorrect

Unknown
Unknown Member
edited December 2019 in Investing (Windows)

I track individual transactions for the cash sweep component of my investment account. For some reason, even though all the transactions show a cost per share of $1.00, the number of shares is not the same as the cost basis. The cost basis matches my records, but the number of shares is high. I've tried "selling" all the shares, using the cost basis as the revenue. That gets my share balance to zero, but I'm still seeing a figure in the cost basis. If I "buy" all the shares, the same thing happens again. I've tried running a validate and repair that rebuilds investing lots to no effect.

Comments

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018

    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.
  • Unknown
    Unknown Member
    edited December 2019


    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.

    I tried your suggestion. I found the transaction, using the approach you suggested. The cost basis and number of shares the day before were the same, and the variance occurred on the day of the transaction in the amount of that transaction. I deleted it, and then checked the balances. The difference grew, so I re-entered the transaction. The difference is back to that of the transaction amount.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018
    How about some more details.  Could you be entering  the transaction 'backward'?  an expense rather than income, a buy rather than a sell?  (though even those should not get the data out of whack).

    If your cost basis and no. of shares matched the day before, what is this transaction doing to change that?  

    Also check that you do not have any placeholders in play for this MM fund.  Be sure that hidden transactions are shown.
  • Unknown
    Unknown Member
    edited December 2019


    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.

    This transaction is similar in all respects to others in the account. Money comes into the account from various sources, typically dividends or capital gains. For every day that cash comes in, my statement shows a purchase of the money market fund for the total of that day's receipts. That is the transaction I entered (a purchase). The reverse happens when I buy a security - there is a sell transaction against the money market fund. The amount for the day is accurate - there is nothing I can see that differentiates this transaction from literally hundreds of similar ones.

    Please help with the concept of a placeholder - I'm not familiar with this so I don't know what to look for.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 2018

    I'm told there's a pretty good description of placeholders in Quicken Help. Just click Help in the Menu bar, then click Quicken Help (or press F1 from anywhere in Quicken). Do a text search on placeholder and read up on that.


    In Edit / Preferences / Investment Transactions make sure there's a checkmark in "Show hidden transactions".


    In a nutshell, locate placeholder transactions, delete them and replace them with the correct missing Buy / Sell / etc. transaction, one by one. That should clear up your issues.


    Generally, when Quicken asks me about accepting a placeholder, I always decline the offer, research the cause and input the proper missing transaction right away.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited December 2019


    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.

    capaull wrote:  "The difference grew, so I re-entered the transaction. "

    Just confirming that you re-entered the transaction from scratch, not as a cut and paste from deleting the transaction.

    Back to the beginning, you are saying on Day 0, Quicken shows you have 100 shares with a cost basis of $100.  Data balances.  Next day, you have a purchase of 5 shares for $5 but Quicken then states your have 110 shares with a basis of $105.  Quicken is saying your share count is higher than your basis.

    You deleted the purchase of the 5 shares and "The difference grew".  So on Day 0 you had 100 sh at $100 and now you have no transactions on Day 1 and the values changed?  To what? 110 shares and $100.  

    Something is still missing.
  • Unknown
    Unknown Member
    edited December 2019


    I'm told there's a pretty good description of placeholders in Quicken Help. Just click Help in the Menu bar, then click Quicken Help (or press F1 from anywhere in Quicken). Do a text search on placeholder and read up on that.


    In Edit / Preferences / Investment Transactions make sure there's a checkmark in "Show hidden transactions".


    In a nutshell, locate placeholder transactions, delete them and replace them with the correct missing Buy / Sell / etc. transaction, one by one. That should clear up your issues.


    Generally, when Quicken asks me about accepting a placeholder, I always decline the offer, research the cause and input the proper missing transaction right away.

    Thank you for the response. I haven't had a chance to get back to Quicken to search for placeholders in this account and fund, but I will do so.
  • Unknown
    Unknown Member
    edited December 2019


    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.

    I haven't had an opportunity to get back to Quicken to delete the transaction again and record the result specifically. I can confirm that I re-entered the transaction from scratch - it was not a cut and paste. But I am wondering if in performing the original deletion I might have screwed up something else. Given the problem transaction dated back to April 2010, it is entirely possible that the shares acquired in that transaction were sold later (I use FIFO for assigning lots when there is a sale). I'm not sure what happens in that situation.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited December 2019


    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.

    I've had that sort of thing happen with respect to assigned lots.  For a MM fund, I let Quicken default to its FIFO assumption. For other securities, I have gone both ways - default FIFO or my assignments.  So if I end up doing some sort of deletion and still see something funny, I will then check and redo the lot assignments for later sales.
  • Unknown
    Unknown Member
    edited December 2019


    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.

    I finally found the problem. There was a dividend received for the money fund, which normally generates only a cash amount. For one and only one transaction, in addition to the dividend (which shows only as DIV for a type) there was also a share acquisition. I saw this only when I generated a report - it doesn't show in the transaction register. Even though I deleted it and re-created it, the same thing happened. But when I edited the transaction instead of deleting and re-creating, the shares disappeared and all is back in balance. This makes no sense to me, but I'm not going to argue with success. Thank you for putting me on the right track at the beginning so I could identify the problem transaction.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited December 2019


    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.

    Well Done.  So what type of transactions was it that was problematic until your edit?  Share acquisition transactions would normally be Add Shares, Buy Shares, or Reinvest Dividends (or interest).
  • Unknown
    Unknown Member
    edited December 2019


    Using the portfolio view that shows shares and cost basis, vary the As of date back in time to determine when the misfit occurs. Then on that date, delete and re-enter relevant MM transactions.

    It was a standard dividend transaction, which normally results in only cash being added to the account. This was downloaded, not manually entered. I did accept the transaction, so I'm presuming I saw nothing wrong at the time. The transaction register for a dividend transaction doesn't display share information. I lost a lot of time looking at the entries I manually enter (taking the cash and buying shares of the money market fund), when it was actually something else entirely. If I run into something like this again I will scrutinize all transactions - not just the ones I enter.
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