Incorrect balance calculation still causes large errors in reports

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  • Bill
    Bill Quicken Mac Subscription Member ✭✭✭
    edited August 2018
    Rich Cook said:

    Thanks for all the answers.  I have tried all of them so far and there is still a huge discrepancy.  The difference lies in my investment account.  As @John Burgess said above, regardless of why, why is it my job to hunt through the interface to see how too different definitions of "net worth" can possibly make sense in one piece of personal finance software?  

    I am experiencing the same problem with month-end net worth reports not matching the left column amount for one investment account. However, by the time I prepare the next month's net worth report, the previous months value is corrected for that account. So it would clearly appear too be date related, but still doesn't excuse the discrepancy.
  • Quicken Marcus
    Quicken Marcus Quicken Mac Subscription Employee ✭✭✭✭
    edited August 2018
    Rich Cook said:

    Thanks for all the answers.  I have tried all of them so far and there is still a huge discrepancy.  The difference lies in my investment account.  As @John Burgess said above, regardless of why, why is it my job to hunt through the interface to see how too different definitions of "net worth" can possibly make sense in one piece of personal finance software?  

    Rich and Bill, I'm sorry you're running into these issues.  As many posters have stated, you shouldn't have to debug issues you're finding but the reality is if you want them fixed we need details to be able to reproduce the issue.  If we can't see the problem, we can't fix it. 

    Your point about having Options might be a clue.  As I'm sure you know, Quicken Mac doesn't handle Options very well.  We're now starting to make improvements in 2018 but that probably hasn't affected your account yet.  Bill do you also have Options? 

    As many posters have stated, the sidebar uses a different time frame than the report since the sidebar looks at today and the report is looking at monthly intervals so they may or may not be the same and this is by design.  The other issue is that the sidebar now converts foreign currencies into your home currency but the reports are still single currency which could also result in differences.  Bill, it sounds like things normalize for you over time.  The issue you could be encountering is that the brokerages send Quicken data in different batches.  Sometimes they will send us an updated balance but not include the transactions that make up that balance.  Therefore on a particular day, the balances may be off but are then corrected the following day when the transactions are downloaded.  With 14,500 financial institutions sending different data with some not following the agreed to spec, Quicken may or may not handle the data the same way.  This is why people have different experiences and quality of data.  

    In any case, the more detail you can provide the better.  If you'd be willing to share your files with us, we probably could find the issue faster.  I'll email you both directly.
  • Rich Cook
    Rich Cook Member ✭✭✭
    edited August 2018
    Rich Cook said:

    Thanks for all the answers.  I have tried all of them so far and there is still a huge discrepancy.  The difference lies in my investment account.  As @John Burgess said above, regardless of why, why is it my job to hunt through the interface to see how too different definitions of "net worth" can possibly make sense in one piece of personal finance software?  

    Thanks @Quicken Marcus for your help and for your private email to me.  @Rick0, When we find a resolution I'll let the forum know.  The process has started (again) and I hope to find a resolution this time!  Yay!  
  • Bill
    Bill Quicken Mac Subscription Member ✭✭✭
    edited August 2018
    Rich Cook said:

    Thanks for all the answers.  I have tried all of them so far and there is still a huge discrepancy.  The difference lies in my investment account.  As @John Burgess said above, regardless of why, why is it my job to hunt through the interface to see how too different definitions of "net worth" can possibly make sense in one piece of personal finance software?  

    I also heard from @Quicken Marcus via email. He left on vacation yesterday so I expect to resume troubleshooting with him in a week or so. Replying to Marcus's specific question, I do not have options.
  • goodvonlehman
    goodvonlehman Quicken Mac Other Member
    edited August 2019
     My net worth statement is $50 million+ more than the account statement on the left side of the screen. This IS NOT a user error. If I look at the pro folio view, it matches the left column. Only the Net Worth statement varies. How can I fix this issue?
  • dnfinance
    dnfinance Quicken Windows Subscription Member ✭✭✭
    edited August 2019
    ---------------------------------------Ignore Original Post------------------------------------

    -----------------Resolution Described at the bottom if you are interested---------------

    Quicken Windows R21.16. @Quicken Marcus, I realize I am posting to a Mac thread. Just hoping to provide information that indicates a possible "bug" that is common to both operating system Quicken versions.

    The Net Worth reports and graphs display account balances that include cash, which was withdrawn from an investment account. I observed this after withdrawing cash and the Net Worth report continued to show the balance as if the cash amount is still in the investment account. The withdrawal date is 10 days prior to the observed reports and graphs. The Portfolio Report includes the cash just like the Net Worth report and graphs.

    I read the comments that explain certain reports and graphs use end of month balances versus the current balances that are displayed on the sidebar. The Net Worth and Portfolio report dates are set for today's date, which indicates to me that the Net Worth and Portfolio reports will display today's balances. I have a number of accounts and the balances for all but the one with the cash withdrawal tie to today's balances as displayed in the sidebar.

    I have performed a file validation, cleared the transaction ("c") and reconciled the cash balance in the account (transactions marked "R"), none of which changed the reported Net Worth.

    -------------------Resolution: I found the problem that caused the observed results. At the time I sold a money market fund to create cash that could be withdrawn, the money market fund was a hidden security. Simply unhiding the money market security did not cause the correct balance to be displayed. After unhiding the security I deleted and reentered the "sold" transaction, which caused the Net Worth reports to recognize the sale.

    I'll just quietly be on my way now................
  • KenP
    KenP Quicken Windows Subscription Member
    I’ve been struggling with this for quite a while.

    I have big discrepancies in the net worth of all my investment accounts and in none in my cash accounts. Zero balance investment accounts show non-zero account balances in the net worth report forever after the account is zeroed. The value carried forward appears to be the sum of all the entries in the “Cash+Invest” column of the register report.

    This algorithm requires you manage cost basis very carefully (no adjustments to correct balances) and even then may still retain capital gains/losses after assets have been liquidated.

    The Account Balances report is a good substitute for the Net Worth report, and it can also show a graph of how it has changed over time. It does what I need, but unfortunately can’t be added to the Home tab.
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