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Fidelty Netbenefits not adding bought fund & incorrect cash after rebalance

Scotsaver

I just did a major rebalance. All the sold funds were correctly handled by QC but the new fund purchase was omitted. All I got was a transaction called Exchange and an amount. I think this might be the second time recently where funds bought are not being added correctly.

I fixed it manually (sort of). I added the bought fund shares but then the balance was way off vs cash position. I had to create a new transaction to fix cash position to ero because the manually bought funds were also deducted from the account value. It looks like the cash from the sales and the purchase never appears is the account register.

Hard to reproduce this as the entire rebalance download can't be replicated again.

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Comments

Quicken Kristina

Hello @Scotsaver,

Thank you for sharing your experience. To help troubleshoot, please provide more information. Which fund was not reflecting in your investment account after the rebalance? You mentioned that adding the bought fund shares partially corrected it, but you then needed to correct the cash balance also. To clarify, when you added the shares, did you create a buy transaction (which would reduce the cash balance), or did you do an Add Shares (which would add the shares without impacting cash balance). How was the cash balance incorrect? Was it too high, too low, off by the amount of the purchased shares, etc.?

I look forward to your response!

Scotsaver

Thanks for jumping in. I bought shares as you had guessed. I modified the transaction to create an add shares transaction instead. It seems to have fixed the cash balance to zero for today 12/29.

However I still have an incorrect cash balance for each day since 12/22, the date of the transaction. This is not a big deal but it would be nice to clean up the history. Whats the correct way to fix this.

q_lurker

All the sold funds were correctly handled by QC …

QC = Quicken C___??

Exactly how were the sales handled? I would have expected the sales to put cash into the account, but it does not sound like that is the way it was handled. Perhaps they were SoldX transactions with the X=transfer account being the same account. Or perhaps the cash was automatically rolled into a Fidelity MM fund that is not getting managed and reported properly between Fidelity and Quicken (a significant issue for many I believe).

The real world transactions on a rebalance are sales and buys. That is what I would want to have my Quicken files show.

Scotsaver

None of of the funds was a money market fund. Several were non public versions of mutual funds.

I fixed my transaction record by changing to an 'Add' rather than a 'Bought' which kept the cash position the same (thks to the suggestion by @Quicken Kristina )

Quicken Kristina

Thank you for the follow-up,

I'm glad to hear that changing the transaction from bought to add corrected the issue.

If you need further assistance, please feel free to reach out!