401(k) account balance shows 2x actual balance - why?

Just added my 401(k) with Fidelity to my investment register. It found all the mutual funds with correct balances but then added a 'cash' entry that was the total of all my investments and then included that cash entry in the account balance. The result is that the balance shown is 2x the actual balance. There is no cash in this portfolio, how do I get rid of it and why is there in the first place?

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    How are the funds recorded in your 401(k) account?  What action was used?
    It SHOULD be a BUY, which will use up that cash.
    I suspect that it's a "Shares Added"
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • MrsHungryAsian
    MrsHungryAsian Member ✭✭
    I have my 401(k) set up in Quicken, when I download transactions they show up with a Type "Buy" which seems to decrease the Market Value of my account. If I change the Type to "Add Shares" it increases the Market Value of my account. What is the difference and which one should I be using?
  • Quicken Francisco
    Quicken Francisco Moderator mod
    Hello @MrsHungryAsian

    Thanks for letting us know more details about the issue. I'm wondering here if we might be able to manually change the amount inside of the account bar. I would try see if you're able to click on the account under the account bar. From there in the bottom right see if you're able to click on the cash balance amount in the bottom left. If you are you should be able to adjust the amount of cash down to 0 and will adjust the account.

    Once you get the chance let us know if this helps with the issue. If not we'll see what we can try next.

    Thanks,
    Quicken Francisco
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