Investments showing incorrectly for SIMPLE IRA

kylecallahan1

I've made regular Investments to a SIMPLE. The last three show up as CASH which is incorrect giving an incorrect market value. Have rebuilt the file - no change Cash should disappear and all be allocated to investment assets. It is a Vanguard fund.

Tom Young

" I have just been using the automated feature."

I expect this is the crux of the problem if you've been allowing Quicken to automatically enter transactions into your transaction list downloaded from the Financial Institution (FI) and/or automatically allowing Quicken to make placeholder entries into the Account.  If this is your situation then you're relying on the FI to download each and every transaction as a perfectly formatted Quicken entry, (they don't), and that the comparison between what the FI thinks you're holding in your account vs. what Quicken shows in it's Account, (that's how placeholder entries are created if the two don't match), is always accurate, (it isn't).

Since the account's only been open for 6 moths and since it sounds like all that's gone on in the account is cash flowing in followed by purchases of securities I'd suggest simply sitting down with the monthly statements and review each entry to see where things went awry.  Make sure that placeholders are being shown in the transaction list, (“Show hidden transactions” in Edit->Preferences->Investment transactions) and turn off automatic entry for the Account, (Edit/delete account > Online services).

Ps56k2

Doesn't the sequence normally look like......
1 - Deposit cash into the Vanguard account --->
2 - Then purchase the specific mutual fund in that account, which uses the cash balance.

kylecallahan1

It would seem so, I have just been using the automated feature. The SIMPLE is only 6 months old - so not lots of entries. I've no idea why there's an incorrect cash amount being listed as it looks like purchases are all recorded correctly in number of shares, market value, etc. There's just an incorrect negative cash amount or 3700 shown that reduces the market value from what it is to 3700 less than what it is. I have a screen shot of the transactions I could share which illustrates this.

Ps56k2

kylecallahan1 said:

I've made regular Investments to a SIMPLE.

What is a - SIMPLE ?

Guessing you mean a SIMPLE IRA -

A SIMPLE IRA is an employer-sponsored retirement plan offered within small businesses that have 100 or fewer employees.
SIMPLE is an acronym for Savings Incentive Match PLan for Employees.

Greg_the_Geek

SIMPLE IRA maybe?

Tom Young

" I have just been using the automated feature."

I expect this is the crux of the problem if you've been allowing Quicken to automatically enter transactions into your transaction list downloaded from the Financial Institution (FI) and/or automatically allowing Quicken to make placeholder entries into the Account.  If this is your situation then you're relying on the FI to download each and every transaction as a perfectly formatted Quicken entry, (they don't), and that the comparison between what the FI thinks you're holding in your account vs. what Quicken shows in it's Account, (that's how placeholder entries are created if the two don't match), is always accurate, (it isn't).

Since the account's only been open for 6 moths and since it sounds like all that's gone on in the account is cash flowing in followed by purchases of securities I'd suggest simply sitting down with the monthly statements and review each entry to see where things went awry.  Make sure that placeholders are being shown in the transaction list, (“Show hidden transactions” in Edit->Preferences->Investment transactions) and turn off automatic entry for the Account, (Edit/delete account > Online services).

kylecallahan1

A SIMPLE Is an acronym for Savings Investment Matching Plan for Employees - its an IRA for small companies

kylecallahan1

Tom - you nailed it. The first two transactions show the correct flow (also automatic - odd) and the last 4 do not. I just relied upon the software to keep functioning as it did initially. I also had single line display set on and that's apparently a foolish thing to do. I can fix it going forward - I surely appreciate the wisdom!