When linking fidelity 401(k) investments showing as cash balance & investments

Question says it all.

I have a 401(k) from a previous employer (yes I'll roll it out eventually). When I link the account in quicken, it shows both a cash balance and an investment balance, both of which have equal value. This causes the "value" of the account in quicken to be double what it actually is. There is no cash balance actually in this account.

Is there a way to fix this? I would love to track it in quicken but seeing double makes it useless to me.

Best Answer

  • Quicken Francisco
    Quicken Francisco Moderator mod
    Accepted Answer

    Hello @broburke

    Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. I was wondering here if we might be able to easily adjust it by selecting the register under the account bar. From here in the bottom right see if you're able to click on the cash balance and adjust it to 0 out the cash. I'll leave a photo down below. 


    Please let us know if this helps resolve the issue for you.

    Thanks,

    Quicken Francisco


Answers

  • Quicken Francisco
    Quicken Francisco Moderator mod
    Accepted Answer

    Hello @broburke

    Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. I was wondering here if we might be able to easily adjust it by selecting the register under the account bar. From here in the bottom right see if you're able to click on the cash balance and adjust it to 0 out the cash. I'll leave a photo down below. 


    Please let us know if this helps resolve the issue for you.

    Thanks,

    Quicken Francisco


  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    Hi, @broburke .  There are several different things that could be causing this.  My guess is the mostly likely thing that happened is that Fidelity downloaded the cash contributions made to your 401K but then downloaded the securities as Add Shares transactions (which does not decrement the cash balance).  This commonly happens when first setting up investment/retirement accounts.
    Another way to fix it is to do the following.  I prefer this method because it decrements the cash by assigning it to securities purchases (even if the purchases are not historically accurate) an I am a little OCD in that regard.
    • Backup your data file for quick recovery should anything go wrong.
    • Change each of the Add Shares transactions to Buy Shares transactions making sure that cash comes from the account cash balance.  (For the price paid you can use the per share cost from Add Shares transaction that was downloaded.)
    Did either of these options resolve the issue you are seeing?
    If not, get back to us regarding the following:
    • Is this a Fidelity Investments or a Fidelity NetBenefits account?
    • Do the holdings in Quicken match what Fidelity has downloaded?  You can get this information a couple of different ways but a fast way is to click on the upper right Gear icon of the Account Register and then click on Reconcile Shares.  You will either get a message that they match or if they do not match where the mismatches are will be be identified for you.  If there are mismatches identified, which securities are they?
    • Does the Cash Balance in Quicken match what was downloaded by Fidelity?  A fast way to check this is to click on the underlined blue Cash Balance amount shown at the bottom right of the Account Register.  
    • Does your Fidelity 401K account include a Core Account for settled Cash?  Fidelity often assigns a Money Market Fund (MMF) for this purpose.  If your account does include a Core Account MMF it will be identified in your online account Positions tab and the ticker for that MMF will be followed by "**" (example:  SPAXX**).
    (QW Premier Subscription: R34.15 on Windows 10)
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