Fidelity Net Benefits 401k balance doubled, and then cash only, new quicken file, reproducible

bwwalk

Starting this thread back up since I have seen no resolution. I have been going in and zeroing out the cash balance but starting today I'm unable to do that as well. I get the message "No Adjustment Required".
Quicken Team, is there a resolution to this?

Quicken Kristina

Hello @bwwalk,

Thank you for reaching out to the Community and telling us about this issue.  I'm sorry to hear you're running into this problem. When did this issue first start? You mentioned its happening in a new file also. Is it always cash balance that is throwing things off, or are there other factors involved? Is this happening when connected via Direct Connect? To check which connection method you are using for the account, go to Tools>Account List. Click the Edit button next to the account name, then click the Online Services tab. It will list financial institution and connection method there.

Since you said this is reproducible, would you be willing to list the steps you took to recreate the issue and perhaps include screenshots of the issue (with any personal information obscured or blurred out)? If needed, please refer to this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop screenshots to your response if you are not given the option to add attachments.

Thank you.

bwwalk

The issue started about 4-5 weeks ago. It was not an issue before that.
The connection type is
Fidelity Netbenefits and Direct Connect

The issue is that all the individual funds are added up correctly but then I get another entry under CASH for the same amount, so it is double counting. I was able to $0 the CASH out for a while but now it will not let me. Now when I try and $0 the cash I get the error attached. Even when I was able to $0 the CASH amount once I downloaded it from Fidelity again CASH was added back again.
Hope this helps identify the issue.

Jim_Harman

When you click on the account name in the Account bar, usually on the left side of your screen, do you see a list of transactions, similar to a banking account, or do you see a dashboard with 4 large rectangles?

If you see the dashboard, the account is in Simple mode, which causes the balance to be doubled with Fidelity NetBenefits accounts. Click on the gear at the top right of the dashboard, select Edit Account Details, and set the Tracking method to Complete. The detailed transactions will be missing for the time the account was in Simple mode. See this discussion for more information

https://community.quicken.com/discussion/7923036/fidelity-netbenefit-401k-showing-double-the-value-edited

Please post back and let us know if this was the issue.

bwwalk

Thanks, I made that change on two separate accounts under fidelity and one corrected the amount so it was not double but there is another account that the total value is still double.

bwwalk

This is a very small leftover account that will go away but this is how it is reporting. You can see how the 'R" amount and the second posting make the amount double when it should only be the last item of $11.53

bwwalk

Screen Shot

Jim_Harman

Added transactions put the security in your account without affecting the cash balance. Simple mode uses these because it is not tracking the detailed Bought, Sold, Reinvest, etc transactions but ust trying to make the cash and share balances match what is downloaded.

If you edit the Added transaction so that it is a Bought of 1.481 shares for a total of $11.52 rather than Added, that should use up the leftover cash.

bwwalk

ok, that fixed it. Thanks for the help I find the way transactions get recorded sometimes is incorrect. I have been doing a lot of moving around and bringing other accounts into Fidelity, so maybe that is why it gets confused

Jim_Harman

If you have been moving securities between accounts, the downloaded transactions are often inaccurate. That is a different problem from the NetBenefits/Simple mode issue. See this FAQ for more info

https://community.quicken.com/discussion/7930273/faq-changing-brokerages

bwwalk

Thanks again for the help

Jim_Harman

Were both of your problem accounts NetBenefits 401(k) accounts? Were they both initially in Simple mode? Did both accounts involve securities that had been transferred from another account or another brokerage?

I am trying to sort out what Quicken/Fidelity may have fixed and what is still broken.

Thanks

bwwalk

They were both Netbenefit accounts. The problem happened before any other accounts were moved into Fidelity. It started about a month and a half ago. All of a sudden the duplicate cash started showing up.