American Century Brokerage Account Shows Inaccurate Values for Marginable Funds

gbm

I am trying use Simple Tracking (positions only) for American Century brokerage funds. Quicken appears to count the marginable value of these funds as cash, at least as best I can tell. I have called American Century about this, and they informed me that they do classify marginable portions of funds as "available cash" internally. However, these amounts do not show up as cash on statements since no margin investment loans have been taken. Quicken apparently takes the classification and counts it as literal cash, and it does not include the cash amount in the value of the fund. Thus, simple tracking displays a total value that is wrong by multiple zeros. Has anyone else run in to this issue? Is there any solution other than to discontinue use of Quicken to track these investments? Thank you.

Quicken Alyssa

Hello @gbm,

Thank you for taking the time to visit the Community with your questions and concerns, though I apologize for the delayed response.

Can I have you try the Complete Investing option, to see if this will give you more detailed tracking? Let us know if this changes anything or not. 

Thank you.



Quicken Alyssa

gbm

Quicken Alyssa, as far as I can tell, there is no Complete Investing option in my Quicken for Mac. However, I did select the Detailed (positions and transactions) tracking method under the assumption that this is what you were recommending. The result was essentially the same. Quicken shows an online balance that is off by multiple zeros from the American Century actual online balance. Again, it appears to be counting the marginable accounts as cash.

Quicken Alyssa

@gbm, 

Thank you for taking the time to come back and update this discussion with your progress, though I apologize that the issue wasn't resolved with the first suggestion. 

I apologize for using incorrect wording in my previous suggestion, but you did accomplish what I was asking you to try. 

There is one more thing I would like you to try if that's ok. Can I have you open a new(test) file and add this account there? This way we can rule out this being an issue with your current data file. 

To do this;
1. Got to File and select New.
2. Choose Start From Scratch and click Next.
3. Click Next again and then type, "American Century" into the "Add Account" window that opens up. 
4. Enter your credentials and add the account.

Does the account come into this file displaying the same way that it does in the original one? 




Quicken Alyssa