securities comparison mismatch error

Coonhound24

I am attempting to reconcile the balance in my 401k account. When I download the transactions the account balance is overstated by some $120K vs what the brokerage balance is. I am using the 'Reconcile Shares' function in the settings, which opens up the 'securities comparison mismatch error' window. Quicken correctly identifies the differences in each of the holdings, so I click on Details button and ask Quicken to create placeholder txns to correct the discrepancies. Everything appears to work but after I finish and close out the window my $$ balance is still incorrect and the share totals are still wrong (and reappear when I click on the 'reconcile' button again)

I tried deactivating online download for the account and then reactivating it but that did not work.

running W10, Quicken Premier Build 27.1.23.18 Thank you

Jim_Harman

Make sure you can see the Placeholders that are being created. Go to Edit > Preferences > Investment transactions and make sure Show hhidden Transactions is checked.

Perhaps you have a future-dated placeholder or other transaction that is messing with your balances.

Coonhound24

Thanks Jim but that's not my problem- I did as you suggested but nothing changed. My securities balance is still wildly overstated and when I go back into the Reconcile Shares function everything is the same as it was before I created placeholders. It's as if I did nothing at all

Jim_Harman

OK, when viewing he account, click on Holdings. This will show what Quicken thinks you own on the As of date you can set. 

For each security, the Market value should be the Quote x the number of shares, and the total of the security market values and the Cash in your account should be the total market value of your account.

Look at that and see what is wrong. Share quantities? Prices? Cash? the securities in the account? it has to be one or mor of those.

Let us know what the problem is and we can help straighten it out.

Tom Young

I'm really not at all familiar with the ins and outs of placeholders because I never, ever, ever allow them into my file.  Accordingly, I've never used that "Reconcile shares..." function.  (I understand that Quicken is a tool to help you do your accounting, not "do your accounting for you" - which it can't.)  Accordingly, this is a shot in the dark.

Allowing placeholders into your account in no way can be considered "reconcilling" as that term is properly used.  The better description would be "Plug in some shares to make the shares Quicken has equal the number of shares your financial institution says it has."  But, allowing placeholders into the file should make the number of shares balance, no matter what, so is there an "accept all placeholders" button you're failing to click on using that Reconcile shares... feature.  When you exit out of that feature are you actually seeing the placeholders in your file?  It sounds as if the placeholders aren't "sticking" in the transaction list (register) so that invoking the Reconcile shares feature is looking at the same (wrong) number of shares each time.

If the placeholders are there but the share numbers in Quicken still don't equal the financial institution's, if you delete the placeholder and substitute an "Added" action instead, does that work?

Coonhound24

Jim, when I look at the Holdings that Q has listed, they are all off (including some negative holdings added during these attempts at corrections- one listed as "unidentified security") Tom, I'm not a fan of placeholders either- my whole intention was to make what I was tracking in Quicken equal what was listed in my actual brokerage account- a simple prospect, so I thought. If there were discrepancies, you identify them and allow the program to make entries to correct them and start fresh

As it is I have attempted several times over the past few months to fix this and I'm tired. I use this program to allegedly make my life easier, not to aggravate the piss out of me. I finally said "frig it", stopped electronic updates of my existing account in Q and created a new one. That (finally) has the correct name, number and # of shares for each of my holdings- but it also lists my cash holdings as equal to my securities holdings, so my account value is doubled!

Tom Young

"That (finally) has the correct name, number and # of shares for each of my holdings- but it also lists my cash holdings as equal to my securities holdings, so my account value is doubled!"

"Bought" actions should be the correct action to record a purchase.  In those downloads what action is used to acquire securities?  "Added" actions could get the correct share numbers without reducing cash.

Coonhound24

Thanks Tom. I used the "update cash balance" option to set the cash to $0.00 and it balanced out fine. securities are all listed correctly, and cash is where it should be. So for one shining moment I am balanced and reconciled! Happy New Year indeed!

Thanks to you both for attempting to help me out