Removing Shares

D Naumann

For the last 15 years, each quarter my 401K administrator levees certain administrative and record keeping fees against my 401K account. They do this by removing shares from my account.

 In the Quicken investment register under "enter transactions" there is an action called "remove shares". When selected, in the box that pops up, there is a statement "Record the removal of shares of a security from this account without affecting the cash balance."

For 15 years that's exactly what it did. WHEN THE SHARES WERE REMOVED, THE CASH BALNCE WAS NOT EFFECTED."

Until this week, when I removed some shares and the cash balance was affected. Now my cash balance in the account is WRONG and I can find no way to fix the problem.
[removed]  PLEASE FIX IT!!


[post edited to add line breaks]

volvogirl

Actually I think they are doing a Sell to generate the cash to pay the fees.

I have old Quicken 2013 and this is how I record mine.  There is probably a better way or more proper way.

This is how I manually enter my monthly 401k fees which are less than 1 dollar……
1. Do a SELL
2. Enter:  Date, Name, # of Shares, Price
3. Change the Sale Amount to the amount of the Fee then TAB back to Lots
Recalculate box should open - Choose Price - OK
4. Then TAB back to Commission and put the Fee into the Commission Box
Sale Amount should change to zero!

Jim_Harman

The method @volvogirl recommends will work, but I use a more straightforward approach which IMO preserves the investing performance more accurately. I record these as 2 transactions:

1. Do a Sell
2. Enter Date, Security Name, # of Shares, Total Sale = Amount of Fee
3. Click on Enter/New, Cash for amount of fee should appear in the account
4. Enter a MiscExp for the amount of the fee. Choose an appropriate Category
5. Click on Enter/Done

D Naumann

both commentators miss my point. This is a NEW problem. Open the "action" that says remove shares and read what it is supposed to do. It has always done what it says before, but now it's changed. You should be able to remove shares without affecting your cash balance. You're not selling them.

Greg_the_Geek

Can you post a screenshot of what you're seeing (removing any personal information)?

Jim_Harman

I entered a Remove in a test account and it works as it has always - the share balance goes down and the cash balance is unaffected.

Are you sure thare are no hidden Placeholders or other odd transactions in the account around the time of the Remove? Go to Edit > Preferences > Investment Transactions and make sure Show hidden transactions is checked.

D Naumann

Thank You Jim Harman: After reading you post I went back and deleted all the recent "remove shares". That didn't change a thing. WOW, so I had to look farther and found it. Too embarrassed to admit my mistake, but problem solved. Thank You