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entering a transaction amount in a retirement account

Ralph

i added a new account; when i entered the transaction amount, quicken gave me a totally different amount (eg my entry == $5,000, quicken amount == $8,463); please advise

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jr7107

Ralph said:

i added a new account;

Trying to dig out some details. What type of investment account? IRA? 401k?

Ralph said:

when i entered the transaction amount, quicken gave me a totally different amount (eg my entry == $5,000, quicken amount == $8,463); please advise

Was this a transfer from another account? Was this a transfer from another account that was a different currency? Let's start there if possible some more details on why the numbers would change.

Jim_Harman

What version of Quicken are you running (from Help > About Quicken) and what type of account is this - Traditional IRA, Roth, etc?

Have you downloaded transactions into this account from your financial institution?

When you look at the account's transaction list (register), are there any other transactions besides Opening cash balance?

Ralph

this is a new roth account which i entered (not a transfer); there were no other transactions listed when i entered the account into quicken (opening cash balance == 0);
quicken year == 2020; version == R23.18;
in setting up the account, i enter the information manually;

Jim_Harman

OK, so you created a new Roth account in Quicken with no securities and an opening cash balance of zero, then what?

Did you transfer $5,000 from another account, enter a deposit of $5,000, or what? How did the balance get to $8,463?

Is it possible that transactions were downloaded to this account and there is a hidden Placeholder that is affecting your balance? Go to Edit > Prefernces > Investment Transactions and check the Show hidden transactions box to make sure everything is visible.

Ralph

I manually "added" a transaction amount of $5,000, and the quicken balance was $8,463; as far as other transactions, I have created this account several times, then deleted them, then turned off quicken, and started again; each time I got a different balance.

Jim_Harman

Was the Added transaction a Shares Added transaction where you added a security to the account with a purchase price of $5,000 some time ago?

In that case your current balance would depend on the current price of the security, which may have gone up since you purchased it.

If you click on Holdings while viewing the account you will see how the current balance is being computed.

Ralph

jim -- i appreciate your help....i will call quicken on thursday....i think this is all about how the account is set up initially....i have never had this type of problem.

Jim_Harman

OK, thanks for the update. Please post back what the reolution was, or if not solved so we can provide more help if you want.