fidelity IRA balance incorrect

Unknown

Updated accounts this morning and everything is correct except Fidelity IRA account. Balance is off by amount of security sale that took place over two weeks ago. Anyone else experiencing problems with this sort of thing?

Lyn Buddenhagen

Hi Jane - I expect others will respond to your question, but what version of Quicken are you using?

Unknown

Sorry - I should have noted that. I am using Quicken 2017 for Mac.

Unknown

I am having a similar problem with Q 2017 for the Mac. Tonight suddenly for two of my Fidelity IRAs the download is sticking the market value into the cash available position, making the market value at the top of the Portfolio page 2X what it should be. ??? Have no idea how to fix this or why it is doing this. Something has obviously changed at Fidelity's end or Quicken's end. It would be very nice to be able to peek at the raw data that is being downloaded to see if it is a Quicken calculation going wrong, or something on the Fidelity end. Suggestions appreciated.

Unknown

wizardchef said:

I am having a similar problem with Q 2017 for the Mac. Tonight suddenly for two of my Fidelity IRAs the download is sticking the market value into the cash available position, making the market value at the top of the Portfolio page 2X what it should be. ??? Have no idea how to fix this or why it is doing this. Something has obviously changed at Fidelity's end or Quicken's end. It would be very nice to be able to peek at the raw data that is being downloaded to see if it is a Quicken calculation going wrong, or something on the Fidelity end. Suggestions appreciated.

Yes, I have done all of above. First, I have been downloading this portfolio for a long time (years) and never had this problem before, nor do I have this problem with the other two portfolios I have at Fidelity. 

In the Portfolio -> Portfolio Value view in Quicken, the problem is apparent. All of the Value columns match what my Fidelity account shows. What is wildly wrong is the Cash Balance is off by a factor of 27! That is, the cash value that Quicken is showing is MORE than the current market value of the equities (let's say, it should be $1,000 to match Fidelity's cash figure and it is showing $27,000). Further, there are NO placeholders in the Transactions on this account, and all of the transactions look correct in Quicken.

Since I can't see how Quicken is calculating or where it is getting the Cash Value figure, I am stumped as to where to go next. 

Unknown

wizardchef said:

I am having a similar problem with Q 2017 for the Mac. Tonight suddenly for two of my Fidelity IRAs the download is sticking the market value into the cash available position, making the market value at the top of the Portfolio page 2X what it should be. ??? Have no idea how to fix this or why it is doing this. Something has obviously changed at Fidelity's end or Quicken's end. It would be very nice to be able to peek at the raw data that is being downloaded to see if it is a Quicken calculation going wrong, or something on the Fidelity end. Suggestions appreciated.

No balance adjustment at the beginning. At the beginning there are shares transferred in from another Fidelity account.

Here's what is odd. In the running Balance column of Transactions, the current balance that is shown is the Cash Balance number shown in the Portfolio form. That Cash Balance number is shown at the top right on the Transactions page, and the Market Value number on the Transaction page is the sum of the (incorrect) Cash Balance number on the Portfolio page (and also shown at the top righthand side of the Transactions page) PLUS the sum of the Value column on the Portfolio page. This makes my total Market Value number on the Transactions page off by over 100%. ????

I had assumed that Quicken downloaded the asset prices and shares and either took the market value numbers from the brokerage firm or it calculated them from prices and shares. Then, I assumed it loaded the cash value down from the brokerage. I assumed that the portfolio total market value number was calculated by adding the sum of the Value column (total market value of the traded assets) and the current cash value.

Apparently, Quicken does not do it that way. Do you know how they do it??

Unknown

wizardchef said:

I am having a similar problem with Q 2017 for the Mac. Tonight suddenly for two of my Fidelity IRAs the download is sticking the market value into the cash available position, making the market value at the top of the Portfolio page 2X what it should be. ??? Have no idea how to fix this or why it is doing this. Something has obviously changed at Fidelity's end or Quicken's end. It would be very nice to be able to peek at the raw data that is being downloaded to see if it is a Quicken calculation going wrong, or something on the Fidelity end. Suggestions appreciated.

You are correct, Rick! It must have been that I never noticed this over a LONG time, but something was set up incorrectly when the account was created from some other Fidelity account. I just went in and made a balance adjustment and the numbers now look correct. So, my problem lay in having a running incorrect balance column all of the time. I was also looking at the problem backwards. The Portfolio page pulls its info out of the transactions, so if the Balance column (which is really the Cash Balance column) is out of whack, the whole summary is in error. Thanks for your patience. Problem solved.