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why do I keep getting placeholder entries?

WileyOne

I'm tracking my IRA at Fidelity.com using Quicken Classic Desktop.

I've told Quicken to treat SPAXX as cash and not show it as a position.

Every time I receive a dividend from SPAXX, a placeholder entry appears for that amount in Fidelity Government Money Market (SPAXX) for 0 shares. I immediately erase it and all is good until the next time.

At Fidelity, I've tried configuring SPAXX to reinvest dividends, but that hasn't changed anything.

What am I doing wrong?

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Accepted answers

NotACPA

There's currently an issue with how Q and Fidelity treat SPAXX. Search on the fund name, in the box at the top of the home page, for more info.

I don't think you're doing anything wrong, it's "the issue" that's causing you problems.

All comments

NotACPA

There's currently an issue with how Q and Fidelity treat SPAXX. Search on the fund name, in the box at the top of the home page, for more info.

I don't think you're doing anything wrong, it's "the issue" that's causing you problems.

WileyOne

oh, great. So, we get to way a year or more while Quicken struggles with it.

NotACPA

Why do you think that it's Quicken, and not Fidelity, that caused the issue … and needs to fix it???

Fidelity's decision to discontinue "Direct Connect" as the download method has been the source of MULTIPLE problems.

Boatnmaniac

@WileyOne - I'm not so sure (yet) that the issue you are seeing is the same SPAXX issue that others have been reporting. What makes me think that this might be a different issue is that:

You did not say that the Cash Balance is incorrect. (Let me know if the Cash Balance is not correct because that might mean your SPAXX issue might be the same as what others are reporting.)
There is a recurring 0-share Placeholder.

This leads me to think that there is possibly a small fractional share of SPAXX in your holdings, perhaps so small that you might not be seeing it in the account Holdings nor in various reports. If this is the case, Quicken might be generating an equal but opposite fractional share Placeholder each time to offset that small fractional share in Holdings.

What you might want to try doing:

Backup your data file.
Tools > Security List > select SPAXX >
In the Investment account: Enter Transactions button > Sell - Shares Sold > security = SPAXX > check the box for Sell all shares in this account > Price Received = $1.00 > Enter/Done.
View the transaction to see what Quicken entered.

If my assumption is correct, entering this Sell transaction should eliminate the recurrence of the Placeholders going forward.