Adjust share balance doesn't work and actually screwed up my 401k account
Adjust share balance just adds whatever number you put in there to your total shares... it does NOT do what it is supposed to do, which is put in an adjustment (add or subtract) to get you to the right # of shares.
Not only that, but now my acct is screwed... the register (correctly) shows 6k shares, but when I click on holdings it shows 12k and the balance is calculated off of the latter which means my acct balance shows double what it should.
Spoke with tech support and they agree it's a bug, but they have no idea how to fix my account right now.
Using Quicken 2019 on PC.
Not only that, but now my acct is screwed... the register (correctly) shows 6k shares, but when I click on holdings it shows 12k and the balance is calculated off of the latter which means my acct balance shows double what it should.
Spoke with tech support and they agree it's a bug, but they have no idea how to fix my account right now.
Using Quicken 2019 on PC.
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a) just delete the transaction that was created by the Adjust share action, or
b) revert to a backup that you created prior to this action
Also, what Q product are you running? What country? And what Build/Release of the product?
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Go to Edit > Preferences > Investment Transactions and make sure that "Show hidden transactions" is checked.
The Placeholder will have "Entry" in the Action column and will have a gray background even if it is not selected.
Once you can see the Placeholder you can correct it or delete it if you want.
One way the "Adjust Share Balance" can result in twice as many shares as you expect is if you have two similarly named securities, and/or downloaded security data is not matched correctly to the security in Quicken.
There's no adjustment transaction to delete now. That's exactly what I did the first time... I deleted the adjustment transaction once I saw things were's right. That corrected it in the register, but holdings still shows 2x the correct amount.
There are no hidden transactions; I already had that checked.
i also do not see more than one security in my holdings (to your point on similarly named securities).
I have a back-up but I made other changes in the account since then and am not going to go back and redo it all (it was messed up before where some transactions never appeared in the register from Vanguard... I had to enter those manually).
If that doesn't fix your problem, go to your Holdings view and click on the little plus sign next to the security name. That will show all your tax lots. See if there is an obvious place where the extra shares came from and investigate transaction(s) on that date.
Also you can go back in time by changing the date in the Holdings view to see when the extra shares appeared.
Also make sure there is not an incorrect stock split that might have doubled your shares.
Very very annoying. Quicken needs to fix this bug. I guess I can try the chat help or call again, but last time they were useless (granted they've been helpful with the numerous other bugs Quicken has).
I'm a user since something like like 1995 and a current subscriber. Can someone from Quicken help me out here? At least let me know if this is still a bug, have new suggestions for fixing, and/or think there is new info. that warrants another support phone call? Thank you,
There are several suggestions above and other than "none of that works" you have not provided any detail on what you have tried and what the result was.
-- Have you made the Placeholders visible? Are there any Placeholders in the account?
-- Have you tried going back in time in your register and Holdings view to see where the discrepancy first occurs, and if so what was the result?
If you want to contact official Quicken support, go to Help > Quicken support in Quicken and scroll to the bottom for support info.
Didn't realize there is no Quicken presence here. Thanks for the clarification on that as well.
Cheers
For future reference, the option to display hidden transactions is at Edit > Preferences > Investment Transactions, where you check the box "Show hidden transactions." For some reason this box is un-checked by default, leading to much confusion.
When visible, Placeholders will have a gray background even if they are not selected, and will have an Action type of Entry.
If you have been trying to resolve Placeholders by entering Buy or Sell transactions prior to the date of a Placeholder, you may also see Xin transactions with a Description of "Balancing Cash Adjustment" which magically appear when you make the hidden transactions visible. These do not have the gray background, so they are even harder to spot and remove when you resolve the Placeholders.
However the problem I see in QWin 2019 is that with the default setting of the Placeholders being hidden, the Placeholder count is shown as zero when you open the file. Clicking on the Placeholders tab does not display them. Even if you change the setting to show hidden transactions, the count remains at zero until you click on the Placeholders tab or re-open Quicken.
I can easily see why this would cause users to think they had no placeholders. IMO it would be much better if hidden transactions defaulted to visible.