Can't "CLOSE" Investment Account

SimonSezSo

Ed Vanyo and me, one other thing to try is after the Ctrl-Z process completes, close Quicken, and restart.  I wasn't sure it would work, but I thought it was worth a try.

Ed Vanyo

SimonSezSo said:

Ed Vanyo and me, one other thing to try is after the Ctrl-Z process completes, close Quicken, and restart.  I wasn't sure it would work, but I thought it was worth a try.

Thanks, didn't work.

SimonSezSo

Ed Vanyo and me, sorry it didn't work.  The only other suggestion I have is to do a MOVE command in the account you want to close, and see if that will flush out any "hidden" securities.  If there are indeed no investments in the account, your move list will be blank.

Good luck.  There has got to be a solution to this issue.

SimonSezSo

Ed Vanyo and me, sorry that didn't work.  The only other suggestion I would have is to create a new investment account, and then use the MOVE command to move all transactions from the "problem" account to the new one.  And then try to close the "new" account.  If you can close the "new" account, you would simply then Delete the old "problem" account.  Depending on your version of Quicken, the investment "MOVE" command may or may not be available.

The following is copied from Quicken Help.  I think you can find or get additonal information from this forum, or in Quicken Help:

**********************************************************************************************

"Move Investment Transactions 

Move
Investment Transactions is an advanced feature that allows you to move multiple
investment transactions from one Quicken investment account to another account
within the same file. Because of the ability of Move Investments Transactions
to affect large numbers of transactions, we recommend that you make a backup of
your Quicken file before using it.

· 
Move Investment Transactions can be accessed from the “gear” menu
above investment registers.

· 
In the Move Investment Transactions window, select the transaction(s)
you want to move, chose the destination account from the “Move to account:”
list, and click “Move”.

· 
To save time selecting transactions to move, you can use the Select
All, Clear All, Select Open Positions and Select Closed Positions
buttons. Select Open Positions selects all transactions for any securities
whose current share balance is non-zero. Select Closed Positions selects all
transactions for any securities whose current share balance is zero.

· 
By default, selecting any transaction to move also selects all other
transactions in the account for the same security. This minimizes the
possibility of cost basis changes – though these can still occur if
transactions are moved to an account which already contains transactions for
the security being moved. You can override the “move as group” default
by clearing the checkbox below the list of transactions; doing so creates additional
scenarios where the cost basis, gains and losses could change. Note that
employee stock options and securities with lot tracking will always move as a
group, regardless of the checkbox setting.

· 
Because of the complexity of the operation, after you click Done, if you
have moved any transactions, Quicken will perform a file validation. Depending
on the file size, this can take several minutes."

************************************************************************************************

Good luck.  There has got to be a solution out there somewhere.

(I have done the investment MOVE command several times without issues.)

Arctic Hare

me said:

Not sure what is special about these accounts but that doesn't work. 

Did you try the process that I provided to clear residual small fractions of shares that round to zero? You weren't specific in your reference to "that doesn't work".

Arctic Hare

SimonSezSo said:

Ed Vanyo and me, one other thing to try is after the Ctrl-Z process completes, close Quicken, and restart.  I wasn't sure it would work, but I thought it was worth a try.

Did you try the process that I provided to clear residual small fractions of shares that round to zero? You weren't specific in your reference to "that doesn't work".

Unknown

Interesting. That worked for me.

SimonSezSo

Wt Riker said:

Interesting. That worked for me.

Which suggestion worked?

Arctic Hare

Wt Riker said:

Interesting. That worked for me.

@Wt Riker: could you please be specific as to which process worked for you.

Unknown

Wt Riker said:

Interesting. That worked for me.

SimonSezSo

me

me said:

Not sure what is special about these accounts but that doesn't work. 

I went to the last transaction and clicked sell all shares. 

geekette

I have the same problem - a Stock Option account (which only had whole shares) that has been "empty" since the final shares were exercised, sold, and the cash transferred out over 2 years ago.  

When I try to close it, I get the message "This account has securities balances, please clear the securities before you close the account."

I've tried cntl-z to recalculate.  No dice.  Apparently my version (Q '17 Dlx) won't allow me to move investment transactions to a new account, so that option won't help.  I really, really don't want to attempt to recreate 20 years of stock option transactions...

The account shows all zeros, the portfolio view shows all zeros.  I can hide it, but it still shows up on the front page of quicken in my investment and retirement accounts area.  

me

geekette said:

I have the same problem - a Stock Option account (which only had whole shares) that has been "empty" since the final shares were exercised, sold, and the cash transferred out over 2 years ago.  

When I try to close it, I get the message "This account has securities balances, please clear the securities before you close the account."

I've tried cntl-z to recalculate.  No dice.  Apparently my version (Q '17 Dlx) won't allow me to move investment transactions to a new account, so that option won't help.  I really, really don't want to attempt to recreate 20 years of stock option transactions...

The account shows all zeros, the portfolio view shows all zeros.  I can hide it, but it still shows up on the front page of quicken in my investment and retirement accounts area.  

If it makes you feel any better, my account (starting this thread) also contains stock options so that might be the underlying cause.


In the meantime, you can hide the account and it shouldn’t cause you any problems.

q_lurker

geekette said:

I have the same problem - a Stock Option account (which only had whole shares) that has been "empty" since the final shares were exercised, sold, and the cash transferred out over 2 years ago.  

When I try to close it, I get the message "This account has securities balances, please clear the securities before you close the account."

I've tried cntl-z to recalculate.  No dice.  Apparently my version (Q '17 Dlx) won't allow me to move investment transactions to a new account, so that option won't help.  I really, really don't want to attempt to recreate 20 years of stock option transactions...

The account shows all zeros, the portfolio view shows all zeros.  I can hide it, but it still shows up on the front page of quicken in my investment and retirement accounts area.  

I don't know if this might apply or not -- If Quicken has both a short position and a long position in a security, it will only report the net of those as the current holding.  So if it sees the holdings as long 10 shares and short 10 shares, it will show in portfolio views (and elsewhere I suspect) 0 shares held.  

Normally, that would be an unusual situation, but if somehow some regular sale got tagged internally as a short sale and there was not CvrSht to close that short position, the situation could develop.

I think in a portfolio view grouped by account, the user could expand the holding (the + icon) and see both the long and short positions identified, but I have not been in that position to confirm that.  

markus1957

geekette said:

I have the same problem - a Stock Option account (which only had whole shares) that has been "empty" since the final shares were exercised, sold, and the cash transferred out over 2 years ago.  

When I try to close it, I get the message "This account has securities balances, please clear the securities before you close the account."

I've tried cntl-z to recalculate.  No dice.  Apparently my version (Q '17 Dlx) won't allow me to move investment transactions to a new account, so that option won't help.  I really, really don't want to attempt to recreate 20 years of stock option transactions...

The account shows all zeros, the portfolio view shows all zeros.  I can hide it, but it still shows up on the front page of quicken in my investment and retirement accounts area.  

Stock options are the underlying problem.

It's a known issue for as far back as I can remember. I have an account like this also. Many years ago, I hid it and forgot about it. If it is still activated for downloads, you should also deactivate the account from online services.

I might be wrong on this but as I recall, the issue arises not because stock options resided in the account, but that some of the options expired without being exercised. Quicken is erroneously flagging them as existing holdings.

geekette

geekette said:

I have the same problem - a Stock Option account (which only had whole shares) that has been "empty" since the final shares were exercised, sold, and the cash transferred out over 2 years ago.  

When I try to close it, I get the message "This account has securities balances, please clear the securities before you close the account."

I've tried cntl-z to recalculate.  No dice.  Apparently my version (Q '17 Dlx) won't allow me to move investment transactions to a new account, so that option won't help.  I really, really don't want to attempt to recreate 20 years of stock option transactions...

The account shows all zeros, the portfolio view shows all zeros.  I can hide it, but it still shows up on the front page of quicken in my investment and retirement accounts area.  

I'll bet you're correct.  This account started before the .com meltdown, and this was a tech company.  Some options definitely expired without being exercised.

Unknown

Ed Vanyo said:

Any update to this issue? Still have the problem...

I fixed mine by adding entries to each of your holdings. In my case, sometimes the share ends up changing the symbol or what not it was not properly indicated somehow.  Your total investment must equal 0 in to properly close the account.  See my previous comments.  

Unknown

I have the same issue. When Scottrade and TD Ameritrade merged, the Scottrade accunt still stayed in Quicken and I cannot close because of this error. In the Holdings section, I have a lot of securities. Some of them have negative shares. Although the market value is very less, this issue messes up with my Net Worth report that shows a high market value under the 'Unrealized gain'. Is there an easy way to clear all these securities so I can close the account ?

markus1957

cool_anil said:

I have the same issue. When Scottrade and TD Ameritrade merged, the Scottrade accunt still stayed in Quicken and I cannot close because of this error. In the Holdings section, I have a lot of securities. Some of them have negative shares. Although the market value is very less, this issue messes up with my Net Worth report that shows a high market value under the 'Unrealized gain'. Is there an easy way to clear all these securities so I can close the account ?

The easy method is to use Add/Remove Shares to zero the balances of incorrect holdings. While this perturbs the actual transaction history, in your case it's not correct in the account as it stands now.