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Placeholders issues

melwiesel

The system does not update the placeholders at the download. This list of placeholders over time has given me a 30% total differential on my totals and left me with about 1,000 placeholders to update and correct. There has to be a way for the system to go back the next day and complete the information that is missing in the download.

Ticket number is 12569128 with Quicken Help.

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Investments

widnows

Comments

NotACPA

Placeholders get created when the position info that's downloaded from your financial institution varies from what you've got recorded in that account in Q.

How you'd get 1,000 of them is befuddling, unless you've got almost that many securities, or make changes to your holdings that aren't mirrored at the FI, because a Placeholder adjusts the particular position so that the 2 figures agree … and a placeholder for that security shouldn't happen again unless you've made some change to the account.

How is Q supposed to go back the next day when, by the definition of a Placeholder, the info isn't present in Q?

Chris_QPW

Like @NotACPA I can't see why you have so many placeholders unless you have tons of securities that are wrong or have let this go on for a very long time, but personally what I do is always reject all placeholders. I run compare shares, to make sure my Quicken data is matches what was downloaded from the financial institution but I don't allow a placeholder when it different. The reason is simple, I have several financial institutions that don't keep the transactions and share balance information in sync. For instance, they might download the transaction when I update in the afternoon, but the share balances might not be up to date until very late at night, and when I check the next day they are in sync. If I ever have a problem that goes on for days, then I search out the problem transactions and fix those.

Sceptic

@melwiesel it seems like you are working already working with Quicken Customer Support on this issue. Would you be willing to circle back and report back with what they find?

I am not sure what information you have provided to them, but I would be interested to know -

What financial institution is this?
How many accounts?'
What investment method - simple or complete?
How many securities in each account?
What connection method are you using for the account(s)?
Can you determine what the time span these placeholder entries is?

You may have already provided this information to Quicken Customer Support if you are working with them on this issue, but in the meantime, with more details, another Quicken user might be able to provide some insight or resolution to your placeholder issue.

Chris_QPW

Good information. I will say on the subject of simple investing mode would be impossible to tell if there were any placeholders, and in fact there shouldn't be any placeholders. The first part is since simple investing mode doesn't allow you to see the transactions, which would include placeholders. Second, there shouldn't be any placeholders because the whole point of the simple investing mode is to use add/remove shares and misc income and misc expense transactions (hidden in the register) to bring Quicken's shares/cash in line with what was downloaded from the financial institution in the share/cash summary information. Whereas in complete mode it uses that same information to decide to present a placeholder to the user or not.

Sceptic

Chris there would be placeholders if a user switched from simple to complete. Maybe I should have explicitly asked that.

AZCoder1959

I'm on the Mac, and it started doing that this morning for me as well. In fact, I deleted placeholders, reran downloads, and they returned. Over and over again. There is no earthly reason why this would start today, as I've done nothing different.

Sceptic

It sounds like there might be an issue developing. It would be interesting to hear back from the OP on what they found.

Chris_QPW

What financial institution?

The OP has yet to state this.

For it to be something that affects both Quicken Windows and Quicken Mac that points at the financial institution.

Also, at this point is far from clear if the problem you and the OP are having is the same. Placeholder problems popup all the time.

In fact, placeholder problems popup and go away in the span of a day because of the inconsistent information that some financial institutions send.

AZCoder1959

I'm not the OP, but for me, it's Chase.

AZCoder1959

Just an quick update…the problem from yesterday did not repeat itself today. I can't explain why there was such a major hiccup, though.

Sceptic

That is interesting. These issues are with Quicken Mac and may be related to what you experienced with Chase investments -

https://community.quicken.com/discussion/7976026/everything-went-wrong

Chris_QPW

I used to have Chase for my investment accounts until the first of the year, and as I remember it, Chase regularly had its transaction information and summary information (which the placeholders use) out of sync. As in the transactions came down in the middle of the day, but the summary share information wouldn't update until very late at night.

And not repeating today makes sense because it Saturday. As in there aren't any transactions coming in, in an investment account on Saturday.

AZCoder1959

Thanks for posting this! This exactly the problem (and as I noted in my post yesterday, I'm on a Mac). The fact that the problem seemed to occur on both platforms points to a Chase issue. The OP hasn't posted which FI was giving him/her fits, but it probably was Chase.

Mystery resolved (not solved, though). 😀

Chris_QPW

This looks like a different problem to me. Placeholders and duplicate transactions are different things.

AZCoder1959

You may be right, though I was getting placeholder transactions (with slightly different security names) for accounts without any updates. We'll see on Monday if the issue returns. As @skeptic showed, this issue also happens with other Mac users (like me).

I know about the Chase issues you're talking about. This wasn't that. This bug caused a flood of placeholder transactions across multiple accounts that basically doubled my portfolio.