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Resolving placeholders in Quicken 2018 for Windows

Henry Dieterich
Henry Dieterich Member ✭✭
edited November 2018 in Investing (Windows)
I am using Quicken Deluxe 2018 for Windows, version R5.15, Build 27.1.5.15. I recently started two new Roth IRA accounts with my money managers. They took some cash from another account, added it to the Roth accounts, and proceeded to buy securities. I was able to download transactions from these accounts. However, the cost of the securities was not downloaded, so Quicken created placeholder entries. The entries had N/A in the Cost field. I went to resolve the placeholders, using information provided by the money managers. They performed as the instructions said, not reducing the cash balance. In fact the cash balance had been reduced since the full amount of cash had been spent on the securities. I have not been able to enter these transactions in such a way that the cash balance is correct, even by adding them separately rather than resolving the placeholders. Now the account in Quicken shows a value approximately twice the actual value, since the securities are combined with the cash value, including the original cash which should all be shown as spent.

How do I get the transaction entered in such a way as to show the correct cash balance?

Comments

  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    edited July 2018
    Hey Henry,

    How are entering the transactions?  Are you using Buy transactions or adding shares?

    I would review this FAQ for an overview of placeholders and how they work in Quicken https://getsatisfaction.com/quickencommunity/topics/quicken-faq-managing-placeholder-entries-in-quic....  

    Hope this helps!
    ~~~***~~~
  • Henry Dieterich
    Henry Dieterich Member ✭✭
    edited February 2018
    I am downloading the data from the money manager via the online update function. I will check the link you suggest and see how it works. Thank you.
  • Henry Dieterich
    Henry Dieterich Member ✭✭
    edited February 2018
    Thank you for the article, but it still doesn't work. I was able to reenter one transaction and get it to take the price from the cash balance, but trying to reenter the others didn't work, even after I had completely deleted the placeholder transactions. The cash was transferred into the account 1/04/18; the securities were bought 1/08/18. Quicken entered placeholders for them when I first downloaded from the account 1/30/18. It shows the correct share value, but shows the cash as though none of it had been spent. How do I persuade it that the shares were actually purchased on the date shown with cash from the account?
  • Henry Dieterich
    Henry Dieterich Member ✭✭
    edited February 2018
    I managed to get it to show what I wanted as follows. I entered the transaction with today's date, and saved it. The cash deduction showed up. Then I changed the date to the date I wanted (the date of the placeholder). Then I deleted the placeholder. It seems there should be an easier and more direct way of doing it.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
    The transactions with the N/A in the Cost field are not the Placeholders. Unfortunately Quicken defaults to hiding the actual placeholders. To make them visible, go to Edit/Preferences/Investment Transactions and make sure Show hidden transactions is checked. The actual Placeholders will have an Action of Entry and they will have a gray background.
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  • Henry Dieterich
    Henry Dieterich Member ✭✭
    edited February 2018
    Thank you. I would not have guessed that in a thousand years. That clears up my misunderstanding. About the placeholders. Quicken also creates a Balancing Cash Adjustment when I resolve the placeholder into a Bought transaction. However, if the real source of the cash is entered (this is important because it is a Roth IRA contribution), the balancing entry does not go away, so it shows both all the original cash and the value of the securities, making the account about twice its actual value. How do I fix this other than the cumbersome process I just outlined?
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
    Can you just delete the balancing cash entry?

    When you are all done, you should just have
    <Cash transferred in>
    <Buy with correct price>
    <Buy with correct price>
    <Buy with correct price>
    <Buy with correct price>
    ...


    When done, the cash balance should be zero.
    QWin Premier subscription
  • Henry Dieterich
    Henry Dieterich Member ✭✭
    edited February 2018
    That's what I thought, but if I remove the balancing cash entry, it removes the buy entry as well. Even with the two entries entered, the placeholder is still there. If I edit the placeholder, choosing "Enter missing transaction," the bought entry comes back, along with the balancing cash entry. Neither of them appears to change the cash balance column. Also, after editing the placeholder entry, it doesn't go away. It's still there.
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