How can I correct Account Total Market Value which not same as Market Value

dilloneq

I have an investment account with 2 mutual funds. Both funds have the proper # of shares and NO future transactions. One fund shows the proper cash balance and matching total market value. The other shows the proper cash balance and an incorrect total market value that is double the cash balance. I've logged out and back in and updated the cash balance. How do I correct this?

Jim_Harman

I am confused when you talk about separate cash balances for the funds. If the funds are held in the same account in Quicken, there will only be one cash balance.

The Cash balance in an investing account shows the money that is in the account but not invested in any security. When you buy a security, the cash balance should go down by the amount of the purchase. The Total Market Value is the Securities Value plus the Cash Balance.

If an account has a cash balance that is close to the Securities value, perhaps the security was Added rather than Bought.

dilloneq

This is a single 529 Plan account with 2 mutual funds. The account is set up through Quicken wizard. The total account balance was more than double, even though share are correct and account is reconciled. I had to update cash balance of each fund. 1st fund cash balance and market value are equal (as they should be). 2nd fund cash balance is correct and market value is cash balance x2. The account balance is the sum of the market value of each fund. Does that make my issue clearer? Thank you.

Jim_Harman

As I tried to explain above, Cash Balance and Market Value should NOT be equal unless there are no securities in the account. 

When you transfer money into the account, you will see that in the Cash Balance. When you use the cash to buy securities, the Cash Balance should go to zero. You should not need to update the cash balance manually.

Tom Young

In both of your posts concerning two mutual funds in one Quicken Account I stumble over the concept the each fund has a "cash balance."  That doesn't comport with how Quicken works so sounds like you have two Quicken Accounts in play here - one for each mutual fund.  That is, if I have a Quicken Account with some cash in it and two different mutual funds and then click on the "Holdings" button, I should see 3 lines in the Account Overview window: one line for each fund and one line for the cash.  There's no way to somehow associate that cash with one fund or the other as it's really a "security" in the Account.

If you really do have 2 Accounts here then the fact that one of the Accounts "shows the proper cash balance and an incorrect total market value that is double the cash balance" suggests that the fund in that Account got "Added" instead of "Bought."  A Bought action "consumes" cash in the Account while an Added action does not, it simply "magically" puts securities into the Account.  Any chance that's what's going on here?

A screen shot of what you're seeing might clear things up a bit.