Account Balances & Net Worth Reports include Closed Accounts and show balance

Beijing Mac

I ran an "Account Balances" report (from the list of Reports and Graphs under section Net Worth & Balances. Report date was today.

The report pulled up 2 accounts that are closed and have zero balance in the account but the report shows one with a balance of $13 and other with a balance of $23.

One of the accounts was zeroed out with last activity in 2018 and account has been "closed" in quicken. Other account was zeroed in 2022 and I "closed" it in Quicken and reran report, but is still showing up in the report. I have closed and reopened Quicken.

Both accounts are retirement (IRA & Thrift plan) type accounts. I can go into settings and manually uncheck the account so it is excluded. But I should not have to do that, it is a bit puzzling. It is not pulling any other zero balance or closed accounts, only the 2 referenced. (and there are others that are closed and zero balance)

Anyone seen anything similar and able to fix?

Running Windows Quicken Classic Business & Personal: R59.35; Build 27.1.59.35; Windows 11 Home.

Beijing Mac

Update: ran a Validation / Repair (after saving a backup) and it reported this:

Above are 2 accounts I referenced. Reran the report and got same results as before:

as you see, Accounts are closed in Quicken:

I have 17 othere closed accounts under Investing and none of them are appearing in the report and showing a value. So, not sure where to look next. Or just to manually exclude them from report.

Jim_Harman

You may have small fractions of shares remaining in these closed accounts, caused by rounding errors in the transaction history. These can occur if there are reverse splits or a lot of reinvested dividends buying fractional shares.

To see what is happening, go to Edit > Preferences > Reports only and set the number of decimal places to 8.

Then go to the Investing > Portfolio Value report and group by account. This will show any securities that have residual balances.

The normal recommendation is to find the final sale of these securities and make sure the "sell all shares" box is checked, keeping the proceeds the same.

Please let us know if that fixes it.

[update] I found one of my accounts with a similar issue. It had 3 lots of a security with long fractional share counts in each. A final sale of 13 shares did not zero out the share count. I checked the Sell all shares box and that changed the final sale to 13.00000032 shares, which is the correct sum of the share counts in the lots. But with that sale, I ended up with a small negative share count in the Portfolio Value report.

What finally fixed the issue was setting the end date for the Portfolio Value report to one day before the final sale. That showed a share count of 12.999997 shares. I can't tell where that number came from, but changing the final sale to that number finally zeroed out the holding.

Beijing Mac

thanks Jim, good suggestion. I did check and both accounts show up in the Investing View with no holdings; cash or anything, just blank line.

I also checked the Holdings of each account and this report is blank / shows no holdings (even residual fractional shares). As a side note, holdings were not sold but transferred to other accounts.

And even when you look at the account Quicken reports zero value:

I checked other reports to see if these 2 ghosts appear;

Portfolio Value report does not show any value; but I was able to find these residual values when checking Portfolio Value & Cost Basis Report. Could use that to search back to a specific security in each account and did double check the last activity; and made sure the "sell all shares" was checked. Did not appear to make a difference as the value still shows in the other reports.