discrepancy

MICHAEL FIRESTEIN
MICHAEL FIRESTEIN Member ✭✭
edited September 17 in Investing (Windows)
after doing a 1-step update, for one brokerage account, there is always a discrepancy between the amount in the account list and the amount shown in the holdings. the amount shown in the holdings matches with the broker while the account amount is often different by thousands of $'s. the only way I found to correct this is to do an update of quotes or another 1-step. is there something else that can be done to avoid the double work

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Click on the gear at the top right of the Account bar to see if it is showing the current balance or the ending balance of your accounts. You want it to show the current balance.

    If you have future dated transactions in the account, that might explain the difference.

    Alternatively, you may hold a security that has an incorrect ticker symbol. Quicken's quotes are based on the ticker symbol but the share prices downloaded from the broker are based on what you actually hold. When the Account bar is showing the wrong amount, go to an investing > Portfolio view and check the prices Quicken is showing for the securities in the problem account.

    Is the discrepancy equal to the amount you hold in a money market fund? Sometimes Quicken downloads a price of zero rather than $1.00 for these funds.
    QWin Premier subscription
  • Click on the gear at the top right of the Account bar to see if it is showing the current balance or the ending balance of your accounts. You want it to show the current balance. i don't see that option when i clcik on the gear. there are no future transactions. i have to do two updates for the account list amounts and the holdings totals for an account to agree. i do all this after the markets are closed. the holdings total always agrees with the balance the broker shows. i see no valid reason that the two amounts shouldn't agree especially since it's only one a/c that has the issue.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited August 16
    So you do a One Step Update (OSU) at the end of the day and for one of your investing accounts there is always a large discrepancy between the balance in the Account bar and the Total Market Value shown at the bottom of the account's Transaction List (register). The Total Market Value is the same as that shown when you click on Holdings in the account and also the same as that shown on the broker's website. If you do a second OSU or update quotes, the discrepancy is always resolved. 

    Do I have this right? Is the discrepancy really always there after the first OSU, and always resolved by the second one?

    [edit to add] Is this the same problem with a Schwab account that you posted about here?
    https://community.quicken.com/discussion/7904315/value-of-a-c-in-a-c-list-vs-value-when-viewing-holdings#latest

    Is the issue resolved if you do the second OSU immediately after the first one, or do you have to wait a while?

    Is the issue resolved if you wait until after 7:30 PM Eastern time before running the first OSU?

    Is the issue resolved if you exit and restart Quicken rather than running the second OSU?

    This might be a mixup between the broker's price for one or more of your securities and the price from Quicken's quote provider. Did you check the security prices when there is a discrepancy as I described above?
    QWin Premier subscription
This discussion has been closed.