IRA Mutual Account Fund Balance is Way Off!

Mar 25, 2008 5 Replies
B

Awhile back, I posted a question about this, but didn't get any answer that worked. Since then, the problem has repeated itself, but now I know precisely what initiates it, so I'll try again.... BTW - I'm using Quicken Premier 2006.



I have 2 IRA mutual funds to which I make regular monthly deposits. These deposits are listed as scheduled transactions, and I enter them into my checking account register weeks ahead of time as a reminder to myself.



In months where I subsequently decide to not make the IRA deposit, I then simply delete the transaction from the checking account register. THAT is exactly when the problem occurs --- As soon as I do that, the balance for the IRA account in the list of accounts to the left of the screen goes up into the millions (along with my calculated net worth).



- Oh, if only it were so! LOL.



Correcting this is a PITA to find the offending entry in the account. Luckily, I use GoBack to "go back", but even that is a PITA. So, my questions are:


  1. Why does this happen?
  2. How else do I remove the entry for a deposit to the IRA in a way that doesn't screw up the account balance?

Thanks!



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D

Two questions:

1) Are the investment accounts designated as "Single Mutual Fund" accounts? (just trying to clarify the issue)

2) does the BR in BRH stand for Billy Ray, and are you in Nashville? (I know a Billy Ray H in Nashville, and drink wine with him or his kids whenever I can).

db

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G

This is actually a known and verified bug in Quicken 2006. I posted this on the Quicken users forum way back and JPollard tested and verified for a fact that this bug existed.

The only known solution is to edit the accompanying investment transaction, deleting the incorrectly added commission amount posted.

FWIW, this was resolved in Quicken 2008 and the bug no longer exists in that version.

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B

I believe that they are, but I'm just recalling this from memory. How do I check this?

No -- I'm not Billy Ray, or in Nashville. Don't drink wine either......

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B

Thanks for that. When I've found the offending transaction, the problem was always in the commission field (I think).

One thing that I forgot to mention -- I'm not sure about this, but I think that this may only happen when the transaction is scheduled for a future date. In other words, if I delete the transaction before we've arrived at that date. Maybe I'll try waiting until the date has passed, and then delete and see what happens.

I hope this bug remains resolved in Quicken 2009, as I'll be updating at that point. (I'm on the 3 year cycle.)

Thanks!

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B

Dan - I checked and can verify that the two accounts are designated as "single mutual funds".

I was able to resolve the _huge_ discrepancies in the balances, but Quicken still can't correctly do the math calculations on these accounts.

One account has 135 shares and the present price per share is 133. That should total to $17,955, but Quicken calulates it as $13,472!

The other account has 2184 shares with a price-per-share of $12. That should total to $26,208, but Quicken figures it to be $19,482!

Quicken appears to be calculating my other mutual funds/IRA's correctly.

Any thoughts on what might be causeing this for _only_ these 2 accounts?

Thanks!

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