Random Remove Shares transactions created for Reinvest Dividends download in 401k

mannyg

I am using Quicken Deluxe 2019 v5.12.5 for macOS 10.14.6.

On 9/30/19, six reinvested dividend transactions (for six different securities) were downloaded from NetBenefits for my 401K. For each of those reinvested dividend transactions, Quicken added a Remove Shares transaction for the same amount of shares the security; and they were dated 10/5/2006 (random!).

My balance in is off by each of those Remove Shares transaction. If I delete the six remove shares transactions, then the account balances.

Why did Quicken create a Remove Shares transaction for each of those reinvested dividends? I saw other reinvested dividends come in without a corresponding Remove Shares transaction?

John_in_NC

Those are placeholder transactions that get created at the beginning of the register. (It isn't random, 10/5/06 is probably your oldest transaction for that account.)

They serve as balance adjustments to make your share balance "correct" as the financial institution reports. For whatever reason, Fidelity is pushing out the wrong share balance, so Quicken adds the placeholder adjustment.

Deleting is fine, and I wouldn't worry. Usually, though, future updates will cause the placeholder to go away on its own when the financial institution updates their records. I have one brokerage house where I will get a placeholder on the day of a buy. Next day, it is gone.

John_in_NC

Those are placeholder transactions that get created at the beginning of the register. (It isn't random, 10/5/06 is probably your oldest transaction for that account.)

They serve as balance adjustments to make your share balance "correct" as the financial institution reports. For whatever reason, Fidelity is pushing out the wrong share balance, so Quicken adds the placeholder adjustment.

Deleting is fine, and I wouldn't worry. Usually, though, future updates will cause the placeholder to go away on its own when the financial institution updates their records. I have one brokerage house where I will get a placeholder on the day of a buy. Next day, it is gone.