Why does Fidelity 401K Account (Tracking Method = Simple) double everytime I update?

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rjstephan
rjstephan Member ✭✭
To correct it, I use Update Cash Balance and set it to $0.00. But the next update will set the cash balance back to the account balance resulting in a doubling.

If only it was that easy to truly double your 401K balance!

Best Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
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    That is a bug in the communication between Fidelity and Quicken when you use Simple mode. The only workaround I know of is to use Complete mode.
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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    Are your other accounts 401(k)s? Apparently this problem just affects Fidelity NetBenefits accounts.
    QWin Premier subscription

Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
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    That is a bug in the communication between Fidelity and Quicken when you use Simple mode. The only workaround I know of is to use Complete mode.
    QWin Premier subscription
  • rjstephan
    rjstephan Member ✭✭
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    Thanks Jim. Your answer makes sense because the account used to be in Complete mode and it didn't happen then. However, I have 3 other Fidelity accounts in Complete mode that do not exhibit the behavior. Can you 'splain that too?
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
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    Are your other accounts 401(k)s? Apparently this problem just affects Fidelity NetBenefits accounts.
    QWin Premier subscription
  • rjstephan
    rjstephan Member ✭✭
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    Ah, okay...the other accounts are not 401Ks. Thanks again.
    @Intuit @Quicken when does this bug get fixed????
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    Intuit hasn't owned Quicken in years. The new company is called Quicken Inc.

    As for the problem with Fidelity I suggest contacting Quicken support, and report it as a problem with Help → Report a problem. The more people that do this the more likely that it will get addressed. BTW I have a feeling that the problem is on Fidelity's side, so contacting them about it might be in order too.

    https://www.quicken.com/support#contact-support

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