Fidelity Account Balance Doubled

EMMETT SWAN

My Fidelity employer 401k account balance doubles every time I do a one-step update. The only way to correct the double balance that I am aware of is to edit the cash balance to $0. I have to do this every time and it's annoying.

Quicken Jasmine

Hello @EMMETT SWAN,

Thank you for contacting the Quicken Community, though I do apologize that you are also experiencing this error. 

First, I suggest creating a test file and adding the Fidelity Employer 401k account(s) to see if it produces the same error message. It is recommended to save a backup before proceeding with troubleshooting steps in the event that you would like to return to your original starting position. Below are instructions on how to create a test file:

1. Choose File menu > New Quicken File.

1. Select New Quicken File.

1. Click OK.
2. In the File name field, enter the name of the new file, then click Save. Use a name like "Test File" to tell it apart from your main file. 

Don't use any of these characters: * ? < > | " : \ / (asterisk, question mark, left and right-angle bracket, pipe, straight quotation marks, colon, BACKSLASH, FORWARD SLASH). Also, don't add the .qdf extension; Quicken does that for you.

1. Sign in with your Quicken ID. If you are prompted to create a Quicken ID but already have one, click Sign In under the Create Account prompt. 

1. Select to not use Mobile.
2. Click Add Account to start adding accounts to the new file.

After adding accounts, see if you are experiencing the same problems in this test file. 

Please let me know how this goes, I look forward to hearing your response. 

Chris_QPW

EDITED:

Note, if one is using the Simple investing mode and a Fidelity 401K account it is a known problem that it will double the value of the account by including a cash value that is equivalent is the same as the securities value even though there isn’t really any cash in the account.