Why are my QFX downloads producing the wrong holding balance?

Dave Robinson

Upon setting up my investment account in Quicken, I downloaded the financial institution's QFX file. This populated my quicken account with all of my holdings. The holding value was in agreement with the financial institution's value... all is well.

BUT

Upon downloading further updates, Quicken erroneously posts an incorrect holding value which is several times more than it really is.

I have spoken with my agent and he simply shrugs Saying only that it appears that quicken treated each transaction or transfer as new and re-added them to the account.

I am wondering if when setting up the account in Quicken, I made an incorrect choice which forced Quicken to handle the transactions differently.

I am using Quicken "2020", ver R23.14 Build 27.1.23.14
When I first signed up, the investment account appeared to be working properly and remained in agreement with my financial institution. Then several updates ago, everything went "south". Someone must have an idea and can offer me some guidance. Quicken themselves do not seem to acknowledge there is a problem and does not seem to understand what I am complaining about. It would be GREAT if they actually employed properly trained individuals in their 'boiler-room' customer service department. Not all are bad but concerning this particular issue, there is a lot to be learned.

Theresa McTier

I have the very same issue. It seems that they are double counting the cash holdings. This is VERY aggravating! Quicken needs to fix this.

Dave Robinson

Regarding placeholders, I simply ignore them as I always have (when present). This is even when everything has been working properly. All it wants me to do is enter the "cost" which is information I don't have at my fingertips. I have been less concerned about complete "performance and tax information".

In my list of holdings, I do not see duplicates... same with the register transactions. Is very confusing to me. Someone is handling these transactions differently than they used to.

I can delete this account and recreate it in Quicken and the first setup completion, everything will be in proper synchronisation and balance. Only after I perform a download update does the balance begin to grow. Prior to my subscription service with quicken have things gone astray.
Dave

Theresa McTier

I have the very same issue. It seems that they are double counting the cash holdings. This is VERY aggravating! Quicken needs to fix this.

Jim_Harman

@Dave Robinson if you look at the account's transaction list (register) are there duplicate transactions that lead to the incorrect share balances? If you click on Holdings, do you see the correct list of securities, or are there duplicate securities? Or do you just see wrong balances with no apparent explanation?

If duplicate transactions or securities, you will have to delete the transactions that cause the duplicates and investigate why your FI is sending them.

If just wrong balances, go to Edit > Preverences > Investment transactions and select "Show hidden transactions" if it is not already checked. Then check your account for Placeholders to see if they are the cause of the discrepancies.

Dave Robinson

Regarding placeholders, I simply ignore them as I always have (when present). This is even when everything has been working properly. All it wants me to do is enter the "cost" which is information I don't have at my fingertips. I have been less concerned about complete "performance and tax information".

In my list of holdings, I do not see duplicates... same with the register transactions. Is very confusing to me. Someone is handling these transactions differently than they used to.

I can delete this account and recreate it in Quicken and the first setup completion, everything will be in proper synchronisation and balance. Only after I perform a download update does the balance begin to grow. Prior to my subscription service with quicken have things gone astray.
Dave