An account appears in normal list and also in the broker account. How to fix that ?

henryd1
henryd1 Member
edited February 6 in Investing (Windows)
I have Investments whos amounts are listed twice on the balance sheet. How can I delete the duplicate in the broker account ? Need help urgently.

Best Answer

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited March 26 Accepted Answer
    Hi again @henryd1

    Okay, so I've reviewed the information you provided above, and it tells me that you have somehow managed to record the investments of Amanda and Brigette twice in your Quicken file.  Apparently their total "investments" appear both "in the Pershing account" and "outside of the Pershing account".  Obviously, the duplicates are in the Pershing account (since only Arnold, George and Marcus should have Pershing investments).

    Here's a spreadsheet to illustrate:


    So the fix is to simply delete whatever transactions have been recorded in the Pershing account register that are attributable to Amanda and Jessica.  Those transactions add up to the sum of their two accounts - which are highlighted in yellow in the spreadsheet.

    Hope this helps; let me know if you have any additional questions.

    Frankx

    [edited for typos]


                           Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @henryd1,

    It sounds like you may have added either an "investment" or perhaps an "account" twice.  But I can't tell which it is from your title and post.

    To fix that, first make a backup of your datafile, in case something goes wrong.  Then the action depends on whether it is an investment or an account.  If it is an investment (such as a single stock, simple open the register > locate the "buy" or "shares added" transaction (or transactions) that are duplicates and delete them by right-clicking on each transaction and selecting "delete".

    If it is an entire Quicken account that has been duplicated - you can open the "account" in Quicken > click on the "Gear" icon in the upper right > select "Edit Account Details" > then click on the "Delete Account" button in the lower left > and finally confirm the deletion by typing "YES" in the box.

    Let me know how that goes.

    Frankx


                           Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • henryd1
    henryd1 Member
    To Frankx
    I had a medical emergency (wife) and could since then not work on my computer. Hopefully my situation will improve soon.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @henryd1,

    I am very sorry to hear of your wife's emergency and hope all is well,  If I can be of help with your Quicken issue, please don't hesitate to contact me.

    Frankx


                           Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • henryd1
    henryd1 Member
    edited March 25
    Dear Frankx

    Finally I can get back to my problem with Quicken. Thanks again for your advise of Feb 6. which I
    tried. The last part, "Duplicated Quicken Account" , that worked perfectly. I tried it only to see if that worked even though that wasn't the problem.
    I will try to make a picture of how my problem is on the Balance Sheet :

    Investments
    AMANDA 11,677.67
    BRIGITTE 8,500.00
    VERONICA 7,200.00
    JESSICA 24,500.00
    VANESSA 35,750.00
    PERSHING 111,177.67
    -------------
    Total Investments 198,805.34 (Should be: 162,627.67)

    Pershing is the broker account holding the stocks of : ARNOLD, GEORGE, and MARCUS with a combined total of 75,000.00.
    On the balance sheet it should show the 75,000.00 of these three stocks in PERSHING but the total for Pershing also includes now the amounts of AMANDA and JESSICA for a total of 111,177.67

    Total Investments is overstated by 36,177.67 This affects the rest of the balance sheet.

    I hope this explains my dilemma and that you can figure out how to fix this.

    Thankfully,

    Henry

    [deleted email]







    Actions
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Your description is somewhat confusing. Do the names represent different investing accounts in Quicken, or are they actually securities like mutual funds, ETFs, and stocks?

    In Quicken, an Account corresponds to an actual brokerage account, which can hold one or more securities. At a brokerage like Pershing, you might have several accounts - Mine, Spouse's, IRA, etc. and Quicken tracks these separately.

    Can you explain what is going on using that terminology?

    Thanks


    QWin Premier subscription
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Also, from your list, both the 1st and last line end in .67 ... which added together IS .34 (and carrying the one dollar).
    Why do you believe that the total should end in .67 as all other amounts end in .00?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited March 26 Accepted Answer
    Hi again @henryd1

    Okay, so I've reviewed the information you provided above, and it tells me that you have somehow managed to record the investments of Amanda and Brigette twice in your Quicken file.  Apparently their total "investments" appear both "in the Pershing account" and "outside of the Pershing account".  Obviously, the duplicates are in the Pershing account (since only Arnold, George and Marcus should have Pershing investments).

    Here's a spreadsheet to illustrate:


    So the fix is to simply delete whatever transactions have been recorded in the Pershing account register that are attributable to Amanda and Jessica.  Those transactions add up to the sum of their two accounts - which are highlighted in yellow in the spreadsheet.

    Hope this helps; let me know if you have any additional questions.

    Frankx

    [edited for typos]


                           Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Thanks for sorting all this out, @Frankx.

    Another observation on this situation: When using Quicken to track the investments of several people, it is generally better to have a different Quicken file for anyone who files their own tax return. Quicken lets you have as many files as you want.

    This simplifies any privacy issues and makes it easy for Quicken to keep track of the gains and losses that are reported on each person's or couple's return.
    QWin Premier subscription
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