Mutual Fund Transfer / Placeholder Error Message

memmelaars

I am getting a "You cannot transfer into your mutual fund account prior to a placeholder transaction" whenever I try to download my transactions for any account not just mutual fund accounts. Then Quicken crashes and I have to restart my machine. I have followed all the steps in this post, and all my investment accounts have 0 placeholders but I am still getting this error. Any help would be appreciated.

https://community.quicken.com/discussion/7907967/mutual-fund-transfer-placeholder-error-message

memmelaars

I was able to solve this by going through ALL my closed investment accounts and removing any placeholders in those.

memmelaars

This happens regardless of the account I am currently trying to download. My credit card and bank accounts that don't have any mutual funds in them even give this warning.

Boatnmaniac

Please confirm that you have your global Preferences for Investments set to Show hidden transactions. What you are describing sounds pretty classic for Placeholder transactions that are hidden. If the box is not checked, check it and click OK. Then go back to the Account Registers and see if there are now Placeholder transactions visible.

memmelaars

That box is checked.

Boatnmaniac

Are you saving and running you data file on you local drive or from a network drive or cloud account?

memmelaars

I am running it from a local drive.

memmelaars

I was able to solve this by going through ALL my closed investment accounts and removing any placeholders in those.

Boatnmaniac

Glad to hear you got the issue resolved.

I'm pretty sure you figured it out already but Placeholders are intended to be only temporary transactions to help one identify when there is an issue with securities holdings. They do need to be resolved by either adding real transactions to replace them or by deleting them in a prompt manner or they will eventually cause issues that can be difficult or at least time consuming to resolve, especially if the securities involved are shared among multiple accounts regardless of whether or not they are open or closed accounts.