questioning net worth report [edited]

leonard kearney
leonard kearney Member ✭✭
edited January 7 in Investing (Windows)
i have old accounts that have no holdings and a zero balance - yet they show up on the net worth report - example - the mutual shares account was closed in 2011 - yet now shows with a negative 24,000 balance

Comments

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Quicken is a retail-level accounting program and doesn't guard your accounting data as robustly as big-boy accounting programs designed for businesses, so data corruption can and does creep in.  That may be the case here.
    If you open that Account's transaction list, is the balance in that Account actually $0 or does the Account have some entries of some sort that support that negative figure?  In my own file I've seen Accounts where entries that should not be in that Account have somehow ended up there, and other cases where the Account detail was correct but for some reason Quicken (elsewhere) still showed some kind of balance.
    I'd suggest going through the Validate and Repair process with "Rebuild investing lots" checked to see if that fixes anything.  If it doesn't fix things but your Net Worth with only your current Accounts selected is correct, then about the best you can do is make sure those old Accounts are selected for the report.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Have you done a File > Validate and repair? Sometimes that fixes this sort of issue.

    One thing you can do to track down this type of issue is to set the ending date for the report (Net Worth in this case) back in time until the error goes away. Zero in on the date when it first occurs and look for a transaction on that date that might explain the issue.

    If a balance is left (sometimes just a few pennies) after the final sale for a security, make sure the Sell all shares in this account box is checked in the Sold transaction.

    Sometimes deleting and re-entering the transaction will fix a problem like this.

    Be sure to back up your data file before altering historical data, just in case ...
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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Another thought: How are you accessing the Net Worth report? Some issues have been reported when users click on the Net Worth Summary report button from the Home page Net Worth by Assets and Liabilities panel. Removing and restoring the panel on the Home page may fix this.

    If you are running this or a saved report, try the default report at Reports > Net Worth and Balances > Net Worth
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  • Todd Bachamp
    Todd Bachamp Member ✭✭
    edited January 7
    I just experienced a problem with the net worth object on the home screen. The amounts were substantially lower than they should have been. I ended up fixing the problem by removing the net worth object from the home page, saving the change, then adding the net worth element back to the home page.

    I played around a bit to try to determine what the problem might be. There were a couple of times I clicked on Customize and saved the report without making any change and the amounts and graph changed. When things were out of whack, I could remove the object from the home page, save the page, add the net worth object back onto the home page and save it, and the graph matched the amounts in the account list.

    I have never seen this issue before tonight.

    Running the Net Worth report from Reports > Net Worth & Balances seems to always produce the expected results.

    I'm running Quicken Home & Business R37.66 Build 27.1.37.66.