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Quicken adds share removal transaction that is not in register

Unknown
Unknown Member
edited September 2018 in Investing (Windows)
Quicken Windows 2016: I have been patiently trying to learn how to resolve Placeholders. Here is a situation that one of you might suggest a solution. One current position in my broker account is listed as follows:


AMEX 259 shares, basis $15,296. This consists of two lots: #1 - 5/1/12: 109 shares, basis $6,662


#2 - 7/26/12: 150 shares, basis $8,635



In Quicken today : Lot #1- 5/1/12: 8 shares, basis $1,307 Lot #2 - 7/26/12: 150 shares, basis $8,635


Placeholder 5/15/16 101 shares (enter missing transaction)



I am at a loss as to how to correct the erroneous share total for Lot #1. The original Register entry for this Lot was 210 shares, of which 101 shares were sold on 6/24/16. The Placeholder insists that I enter a correction date for these shares prior to 5/15/16. How do I handle this?

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 2018
    I don't quite understand the exact sequence of events of all the Buys and Sells performed. Help me out here, please.
    You originally bought how much when? (just date and # of shares, prices not needed here)
    You sold some shares ... is / was this recorded correctly and was the correct lot selected?
    It's very important that Buys and Sells are recorded in proper chronological order in Quicken.
  • Unknown
    Unknown Member
    edited October 2016
    I decided to go back to the beginning. I printed out a Find-All search for this holding that covered both the old and new broker accounts (same firm) starting in 2007. In the current account for this stock there were only two buys:
    Buy 5/1/2012 210 shares @ $61.115 = $12,834
    Buy 7/26/2012. 150 shares @ 57.767 = 8,665

    Total 21,499

    and one sell
    Sold 6/24/2016 101 shares @ 60.75 = 6,136

    Currently, this holding is 259 shares with basis $15,363 This approximates my brokers' accounting..
    However, the Quicken Holdings Value Page for today shows this:
    Total holding = 259 shares , basis $18,248 ($2,885 high)
    Lot 5/1/2012 8 shares, basis 1,307 (should be 210 shares)
    Lot 7/26/12 150 shares, basis 8,635 (OK)
    Placeholder 5/15/2016 = 101 shares basis ??
    Shares owned on 5/15/2016 360, basis $30,593 (should be 21,499)
    Shares sold 6/24/2016 101, basis (6,136)
    Basis for 259 shares owned = 30,593 -6136 = 24,457. (should be 15,363)
    The placeholder equals the difference between the Transaction Register and the Value Register. I could not make any correction. I fail to see how the Placeholder holdings can differ from the Transaction register holdings, and what to do about it. This is very frustrating.
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited March 2017
    The first thing I would do is delete the placeholder.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • Unknown
    Unknown Member
    edited October 2016
    The bottom of the Register says 23 placeholders. Last time I tried "Delete All" the 23 items kept coming back over and over with a different date of entry. It seemed that Quicken had entered a placeholder each time I downloaded data from the broker. I had to repeat the Download All command over and over. Finally all the placeholders were deleted - but the Account Balance was way off- nearly doubled. I believe I would have to back through the 70+ shares and make correcting entries maybe as far back as 2007. If the number of Placeholders (23) were actually that number of entries, I would try this. But based on my Delete-All experience, the number might be much larger. So I restored the file from my most recent backup. I welcome your suggestions.
  • Unknown
    Unknown Member
    edited October 2016
    Later on, I went back to Quicken (after watching election commentary on the web, for a change). I unchecked the Hide Transactions box. Now the total of Placeholder transactions in this account is 2,973. Next I forwarded thru the list of Placeholders to see how many were recorded for several different individual stocks. For the one we are discussing, there were 66 Placeholders. Some others were about the same, but several were well over 100.



    At this point it appears that Quicken should caution that the account should be checked after each download and any Placeholders that show up should be immediately removed as they will accumulate.



    Another thing I discovered is that with Transactions Not Hidden, I can delete individual Placeholders (not using Delete All). Most of the Placeholders that were revealed had a balance of 0 - some had + or - shares.



    Finally, I checked the holding we have been discussing. The Placeholder showed the two purchases and one sale correctly, adding up to 259 shares today with a net cost of $15,317. However, at the bottom of the Placeholder window shows the 259 shares cost $18,248, which is $2,931 too high. If I delete this simple, uncomplicated placeholder, as was suggested, should I delete all the others as well?



    Before I forget: I found that each change to the Transaction Register with all transactions revealed took somewhat more than a minute to register, making an extended correction of Placeholders a laborious process.
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited March 2017
    Personally, I think placeholders are nothing but trouble. I do not allow them in any of my accounts. This does mean that I have to download or enter the correct transactions. I find this to be less work and less headaches than dealing with placeholders.



    One key point to prevent the build up of placeholders is to turn off the auto acceptance of downloaded transactions. There is a bug that will continually add placeholders if you have the auto accept for downloaded investment transactions selected.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • Unknown
    Unknown Member
    edited October 2016
    I found this note in another thread:


    "I'm adding this because R8 is now out for Quicken 2016, and I want to try let people know about how it affects this issue. I would actually like to put this information in another question where the person has 100s of placeholders to delete, but that question is closed. First off R8 doesn't fix this problem, the zero placeholders will still get created if you have the automatic entry option on for the investment account(s).What R8 does add to the picture now though is that it will allow you do delete all the placeholders at one time, instead of having to delete them one at a time."

    I've had Auto-add downloaded transactions deselected for some time.
This discussion has been closed.