Placeholders in Quicken 2007 Premier

"Ron" wrote

With the exception of the first download to a new Quicken account, I can't think of a time when Quicken automatically adds a placeholder (and you can avoid that by entering a dummy transaction before the first download, then deleting the dummy transsaction after accepting the downloaded transactions).

The normal practice is for Quicken to offer placeholders ... an offer which the user can reject.

Delete the placeholder. Delete any transactions associated with the placeholder. Re-enter the deleted transactions (not the placeholder). Do not accept any future offers of placeholders.

Another GOOD reason for NOT updating, unless NO other option exists.

Ron:

See John's reply for a more detailed discussion. The way I handle my Fidelity core accounts is to treat Cash Reserves as CASH, and delete any transactions that buy or sell Cash Reserves. I also have the "Show cash in a checking account" checked, so I can tell at a glance what my cash position is.

Bob

When Fidelity records a sale. The funds go into the "Core Account used for trade settlement". This is Fidelity Cash Reserves Fund. Fidelity transaction download does not include a buy of Fidelity Cash Reserves Fund. So Quicken adds cash to the account. Which means the I have a Fidelity Cash Reserve Fund share balance.

Quicken adds a Placeholder for this. When I enter a Buy of Fidelity Cash Reserves Fund, Quicken will not remove the cash from the cash balance. Therefore my shares are correct, but my cash is off because of the Placeholder.

Since Quicken added Placeholder several years ago, this has be a constant battle to keep the balances matching the statements.

Anyone have a solution? I could quit using quicken or I could quit using Fidelity. If I can't get the problem resolved easily, I will take one of the 2 approaches.

Ron Spruell

John Pollard wrote: > Delete the placeholder. Delete any transactions associated with > the placeholder. Re-enter the deleted transactions (not the > placeholder). Do not accept any future offers of placeholders.

Thanks. This solved the problem.

I kept trying to add the 2 transactions and Quicken kept putting N/A for the cost and NOT removing the cash from the account.

I deleted the Placeholder and the 2 entries. Then I entered the 2 transactions and Quicken removed the cash from the account (as it should).

I just downloaded transactions again and Quicken did offer a Placeholder.

Finally.

Ron Spruell

sharx35 wrote: > Another GOOD reason for NOT updating, unless NO other option exists.

My Quicken 2005 would no longer download from the Internet after next April, and there were some great buys on Ebay.

Ron Spruell

That would not work for me. I separate my cash in banks from cash in investments. (It is an IRA.) Also if cash moves back and forth between cash and investments, it makes it hard for me to track. I have 4 investment accounts that can have cash. In investment reports, Quicken just shows cash . . . as cash. I have to search for the account that has the cash and remove it so I can see what is going on.

Ron Spruell