Buy Security in 401k account does not reduce cash balance

Question

I converted a Quicken file from Windows to Mac. Everything looks good but in my current 401k account. The register shows my deposits hitting the account and the subsequent 'Buy' of the security. However, the 'Buy' transaction does not reduce my cash account. Therefore, my cash account continues to build. The securities held balances are correct so the number of shares is correct. Just the cash balance is incorrect.

I've tried to re-enter the Buy transaction but the same result. Is there a account setting or something I need to have my Buy transactions reduce cash balance? Thanks.

John_in_NC · Answer

Scroll to the beginning of the register and look for the light gray Placeholder transaction(s). Depending on your account, you might see some for securities, and one for the cash balance. These act as opening balance adjustments.

I suspect you have a cash balance one, and when you enter the buy, the Placeholder auto-adjusts by the amount of the Buy so that the final Balance remains the same.

There are valid reasons for placeholders, so I can't just say "Delete it" But, sometimes they get created when you don't want them (Brokerage reporting wrong balances, etc.) or you are entering in older transactions that you want to impact the cash balance. You will have  to look at your particular case, but looking for this Placeholder is the place to start.