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Corrupted after update ? I guess

Perry Smith

I opened Quicken this morning and it wanted an update so I said ok. I then updated my accounts via the icon with two arrows pointing in a circle in the upper left corner. I then noticed that one of my accounts with Fidelity is weird — my Fidelity Checking account which is just cash (no stocks). In the left hand list of accounts, its value is twice as much as it should be. When I select the account the big value number at the upper right is also twice as much as it should be. The balance column of the Transactions is correct.

I tried going back to the old version of Quicken (and said I would update later) but I have the same problem. I tried restoring to a backup on 9/11 using the new version of Quicken but it also has the same problem. If I restore from an older backup, I can't tell but it looks ok but I can't do the "Update Accounts" because of some message about Quicken Cloud — which scared me off.

I could try the old version of Quicken and the 9/11 backup but I thought I would stop and ask for help.

What is suggested?

I know things were ok a week ago (9/20) so the 9/11 backup should be good.

Update with additional info: If I select the bad account, then pick Portfolio at the top, and then uncheck the "Include cash" box, the line is $0 (as it should be) until September 17, 2025 at which point it pops up to the amount of its current value (the last transaction is on 9/15). It is like there is some hidden bogus non-cash transaction on 9/17.

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Comments

Quicken Kristina

Hello @Perry Smith,

Thank you for reaching out! If the doubling is being caused by the cash value in the account being too high, then you're likely being impacted by this known issue:

https://community.quicken.com/discussion/7966384/new-9-24-25-fidelity-investments-changes-to-money-market-cash-holdings

If that is the case, then please following these instructions from the alert to correct the issue: Customers whose cash balance is incorrect should perform a reconciliation with the online balance and enter an adjustment to correct the cash balance. From that point on, you will be good to go.

I look forward to your reply!

Perry Smith

Can you give an example of what the adjustment transaction would look like? One side will be cash but what will the other side be? I don't want it to be an expense or income and I don't see how I can make it a stock.

Update:

Ok… Now I see what has happened. The problem I now have is I don't know how the updates will occur in the future. In one account, for example, I now have an "FDIC Insured Deposit" that is equal to the cash I had at the time. I think I'm going to wait until another few transactions occur so that I know better how things will work in the future.

Perry Smith

So, as I spend money from the account, the cash value decreases (as it did before) and the amount of FDIC Insured Deposit FDIC99441 does not change. I currently have 4903.02 shares. But when I put a Remove Shares transaction, that value doubles and I still end up with 4903.02 shares. Likewise if I sell the shares, the same thing happens. This is seriously buggy and something needs to be done.

Perry Smith

To others that have this issue: Click on "All Transactions" (or at least click on Investing) and then Select the Transactions tab. Add "Placeholder" in the search box and you will see entries with a memo/note of "Placeholder". These are the entries that you need to muck with. For me, I just deleted the entry. It is EXTREMELY sad that support mention these entries.