How to fix Total market value for securities showing double what it should be?

Arthur5
Arthur5 Member
edited January 7 in Investing (Windows)
HI. I am trying to track stocks through an account with Merrill Lynch and a separate account from Computershare. In both accounts I self funded the accounts from the checking account. When I look at the account overview in Merrill Lynch or Computer I see a line item for the "security value" and a separate line item for the cash balance. This causes the total market value to show more than double the actual amount. Is there a way to set it up so it shows an accurate value? I saw someone else posted a similar question a year ago, but no one had an answer. I hoping someone has an answer now.

Thanks

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    I can only guess as to what's causing this, but my guess is that the security purchases are recorded as "Add" actions instead of "Buy" actions.  A Buy action reduces cash, an Add action does not. 
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Building on @Tom Young's comment, if you look at the account's transactions, you should see XIns in the Action column that move the cash into the account. You should see Bought for the transactions that buy the securities. These should reduce the cash. What do you see? 
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  • Arthur5
    Arthur5 Member
    I read your comments and went to my account in Quicken and realized there was no option to view "add" or "buy." I checked the settings and saw I was in simple view. I then changed to advanced view and the two separate deposits showed up. From there all I had to do was delete the extra deposit, and the problem was fixed. Thanks!
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