Net Worth Report

Bill Conyer

The IRA account in my Net Worth report doesn't balance with the actual IRA account. I have matched the two holdings files and found a security in the Net Worth report holdings that isn't in the actual account and vice versa. They are similar iShares but different number of shares and of course different symbols. My actual IRA is in balance with the provider (UBS). How can I get into the Net Worth File to make the necessary corrections without screwing up my working transaction file ? I had always thought the same file was used for both reports.

Jim_Harman

I am not following your terminology. There is no separate "Net Worth file". All of the data you mention is in the same Quicken file, right?

Go to the IRA account in Quicken and click on Holdings. Are the securities, share prices, and share counts are correct?

Open the built in Net Worth report at Reports > Net Worth & Balances > Net Worth and set the ending date to today. Click on the gear to customize the report and select Account Detail. Are the securities the same as in the Holdings display? Are the balances the same?

Please explain.

Bill Conyer

Thanks for advice. I have done what you suggested previously but I did it again this morning. The holdings file and the net worth file do not agree. They have common securities, but each has securities not in the other file. I agree there should be only one file for both reports. My IRA is a managed account with over 100 securities. What is strange is in the net worth report all other accounts agree with the holdings file. The IRA totals in the net worth report will run from 15,000 to 30,000 difference. I have been adjusting the net worth manually, and will continue to do so until I get that glitch straightened out. Any suggestions will be appreciated. I hope I have explained this so that you understand my problem. Thanks.

Bill Conyer

One more thing, the securities, share prices, quantities are correct and in agreement with the broker.

Bill Conyer

Another thing I forgot to mention. The share prices and quantities of those securities in both accounts are in agreement.

Jim_Harman

Please don't call what you are seeing the "Holdings file" and "net worth file". Unless you are going to the File menu and changing Quicken files, they are called the Holdings view and the Net Worth report, and everything is already in one file.

From what you have said, I take it that your problem is just in one account, the IRA. The Holdings view for that account agrees with the broker but shows different but overlapping securities when compared to the Net Worth report. Do I have that right?

Here are some things to check:

• Make sure the end date for the Net Worth report is today.
• Click on the gear to customize the Net Worth report and on the Securities tab, make sure All Securities is selected.
• Back up your data, the go to File > Validate and repair file and validate your file, including rebuilding the investing lots.

What have you been doing to adjust your net worth manually? That might be causing more problems than it is fixing.

Please let us know what you find.

Boatnmaniac

@Jim_Harman said:

Click on the gear to customize the Net Worth report and on the Securities tab, make sure All Securities is selected.

It is my experience that all securities not being selected is the most common reason for discrepancies between account values shown in the side bar (and Holdings view) and Net Worth report. At least for me, when new securities are added to Quicken they are not automatically added to the Net Worth report. When I see that these two don't match each other I will usually go to the Securities tab in the Customization popup of Net Worth and click on Select All. That will usually (not always) resolve the discrepancy issue.

Being that the IRA account in question what is causing the discrepancy is a managed account it means that once in a while the brokerage is likely adding new securities from time-to-time and it is these that are perhaps not being included in the Net Worth report.

What have you been doing to adjust your net worth manually? That might be causing more problems than it is fixing.

I agree. If you have been routinely entering manual adjustment transactions into your IRA account register, it might be worthwhile to save a backup of your data file and then delete all of those manual adjustment transactions. Then do a comparison, again, and see if that helped to resolve or at least minimize the issue or if it made it worse. If you don't like the results you can then restore that backup file and all will be as it was with no harm done.

Bill Conyer

I validate my file regularly and have adjusted my investing lots while working on this,problem. I am pretty sure the other settings mentioned are ok but I will double check. Yes, only problem is IRA. My manual adjusting of the Net Worth is outside Quicken.

I keep an Xcel net worth spread sheet and use the Holding View (which agrees with brokers statement) to post.
I have been with Quicken for probably 20 years and never looked at “Net Worth” report. I don’t know why it bothers me now.GRN

Thanks for your time

Jim_Harman

Also note that when you save a report, "All securities" actually means "All securities that were in the selection list when the report was saved"

There is an option when saving (now under Advanced settings on the Save menu) that controls whether you are prompted to include newly added securities when running the saved report.

Bill Conyer

I have always believed there is one transaction file and one holdings file for each account. I also assumed when you ran a report such as Net Worth you acessed the necessary files to compute and display the report. Am I mistaken?

q_lurker

Let's go back to the beginning (also considering subsequent statements) —

The IRA account in my Net Worth report doesn't balance with the actual IRA account.  I have matched the two holdings files and found a security in the Net Worth report holdings that isn't in the actual account and vice versa. They are similar iShares but different number of shares and of course different symbols. My actual IRA is in balance with the provider (UBS). 

In Quicken, your IRA account holding view matches with your real world account. Correct? It matches security by security?

But in a Net Worth Report for that same IRA account, the report shows different iShare securities with different numbers of shares and thus a different ending account value. Correct?

Frankly, that the Holding view shows one security and the Net Worth report shows a different security is baffling because as you expect, they are accessing the same database (your one Quicken file) for both view of the data.

It is possible that the securities being downloaded from UBS have been associated to the wrong security in your Quicken file. That would then have a UBS transactions for iShares-B showing in Quicken as iShares-A. Is this what is happening?

If that security association is bad, the remedy is to Edit the security details for iShares-A and iShares-B, and uncheck the box about "Matched with Online Security". You can then from the account transaction list options, select Reconcile Shares. You will get a chance to create the correct security association. Any previously recorded transaction with the wrong security name would need to be manually corrected to the correct security name (if not already done).

Jim_Harman

I have always believed there is one transaction file and one holdings file for each account. I also assumed when you ran a report such as Net Worth you acessed the necessary files to compute and display the report. Am I mistaken?

You are mistaken. Prior to Quicken 2010 your Quicken data was stored in multiple files, but now there is one Quicken data (QDF) file which has all the accounts, transactions, holdings, price history, reports, etc for one set of Quicken data. If you are managing the finances for multiple independent people, yourself and a parent for example, you can create additional QDF files and each person's data, including accounts, transactions, reports, etc will be stored separately from yours.

The deep dark history is in this Support article

https://www.quicken.com/support/quicken-data-file-set-extensions