401-k Fidelity: doubles the balance

Question

I have two holdings in my 401-k: $50K and $70K,.

I see the correct value for every item in the 'Value' column.

And then I see  $120K  listed as '-Cash-'. I do not have a cash position in this account.

The total value of my account is listed as 240K instead of $120K. It is annoying and I could not find a way to adjust it manually.  I tried to adjust the cash position to 0, but it did not work.

I do not know whether it is Fidelity or Quicken problem. Please help.

Chris_QPW · Answer

From what I understand, the adjusting of the cash amount does work, but the moment you download again it going to be wrong.

There is a basic difference between the Complete investing mode and the Simple investing mode.

In the Complete investing mode transactions are downloaded (and manually entered) and duplicate downloaded transactions are blocked so nothing will change until new transactions are downloaded.

In the Simple investing mode, the assumption is that "Quicken's state" isn't the authority, what the financial institution sends is.  And with ever download there is a "summary" of all the shares, and balances, and Quicken "aligns" what it has with that.

Thinking about the more, it might be argued that if the user set the cash balance to something then from there on Quicken shouldn't use the one from the financial institution (which an option to allow resetting that decision).  After all, if one has to correct it in the first place than the what the financial institution is sending can't be trusted…

You might post that as a suggestion.  You can do that by going to the Community Homepage and selecting New Post → New Idea.

alex4747 · Answer

Just a possibility to manually reset the cash balance to zero will be enough. There is a dialog box that allows you to adjust the cash balance but it does not work. I switched to complete investing mode for now

Chris_QPW · Answer

Actually, I take it back, there is a workaround, you can do it. Change from Simple investing mode to Complete investing mode.

Of course, then you have to deal with making sure all the transactions are correct, but it is a workaround.  Another would be not to download at all and just maintain the account manually.