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Got an unnecessary placeholder entry when correcting a brokerage download error.

The image below shows a Quicken placeholder that is not needed. It showed up after I enter the correct transaction below it. How do I delete it?

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Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited April 2020
    Hi @ Dana,

    Is the buy transaction a recent one?  Has the "settlement" on the buy transaction been processed in the brokerage account yet?

    From the image you posted, it is likely that this is a recent transaction which hasn't been settled yet (but will be settled in a few days).  As a result the total balance of the account is overstated because the cash hasn't been deducted yet.  If that's the case, it will be back in balance once the settlement transaction is posted.  Or you could just delete the placeholder for now.

    Frankx


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  • Dana
    Dana Member ✭✭
    The transaction in question occurred on Oct. 31, 2019 (ironic, no?), but the placeholder entry didn't show until Jan. 2020. On that Oct date, there was adequate cash for the buy transaction.
  • Dana
    Dana Member ✭✭
    As an aside, the "adjustment" entry for the cash remained or returned after I deleted it. I picked a later date to enter a cash adjustment of my own in order to reconcile the cash balance at 12/31/2019. I just do quarterly cash reconciliations any way.
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