401k Share Edits

brhutch

I have a 401k account that after an update reported that the number of shares in various funds were not consistent with the update so I did a placeholder correction on each of the offending share totals. These placeholder corrections resulted in the number of shares in each fund to be approximately double which is actually in the account. I can see that the last placeholder total is the correct number of shares in most funds so the number of shares are now reported to be double what is actually there. How do I correct this? Doing an update does not correct the share number.

Jim_Harman

Were the funds in the account changed to a different share class? For example the fund names might have changed from Blah Blah Blah Fund Class A to Class I and the ticker symbol would have changed, and in your Security List you will see pairs of similarly named funds.

If so, please post back for instructions on how to enter this conversion correctly in Quicken.

brhutch

No the funds are the same. If I bring up the holdings in the account I can see each of funds which now show the share numbers x 2. I can also see if I click on the + sign that the last placehold entry done by Quicken is the actual number of shares of that fund in the account. So the shareholder correction plus the previous total results in a doubling of the number of shares. Is there a way to just delete the latest shareholder correction? Thanks

NotACPA

Yep, you can delete that correction just the same as you can delete any other transaction.

brhutch

Thanks. I see that if I bring up the Placeholder entries by clicking + next to the fund, and then right click on a particular placeholder entry, a dropdown box appares with DELETE SECURITY and others. If I hit that does it delete just the placeholder entry or the entire security from the account?

volvogirl

How much are the shares off? I enter everything manually from statements. Then I check the holdings. There are usually several that don't match Quicken by fractions. I guess it's the decimal points. I started entering add or remove shares to Q to match the statement and then the value matches. Then I won't be so far off at the dnd of the year and have to make a big adjustment.

brhutch

When I got the page saying the shares didn't match, I saw that of the 10 funds there was usually about a 20-30 share difference. So I went through each one and did the shareholder correction. But that is what is so screwed up because the shareholder corrections double the number of share in each of the funds.

brhutch

Well alright. I could not figure out how to get back to the correct shareholder numbers. And everytime I did an update, Quicken still wanted to do more placeholder corrections. So I punted and just deleted the account, and started over. That did correct the current balance and number of shares, but as I expected the only downside is loosing the historical data of the account. I guess there is no way to correct that, right?

Jim_Harman

If you delete an account, all the historical information is gone.

If you have a recent backup, you can restore that and everything will be as it was when the backup was saved. If you post back with more details about what is happening, we may be able to help.

It sounds like the share differences and resulting Placeholders are due to a mismatch between the securities in Quicken and the downloaded securities. In general you should not accept Placeholders but figure out and correct the transactions you have recorded.

brhutch

So is there any way to download historical balances of an account. Since I deleted the screwed up account due to the placeholder entries and created a new account I'm back to the correct numbers. If I could download historical balances my cumulative graphs would not be in error.