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Subject Author Date
I'm falsely Rich Marty K 12-10-2007
Posted by Marty K on December 10, 2007, 1:36 pm
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 Running WIN XP Quicken 2007 and I noticed that one of
my IRAs shows that its value is over $11M. Glad that it shows
I have that much but it ain't true.

The register shows the correct data on the date in question, but the
Investing Center page shows a large market value and amount invested for
one security. All other securities show the correct data.

If I click the + sign to expand the suspect security (on the Investing
center page) it shows 2 large transactions on two dates that are
separated by almost 2 years but are way off from what actually occurred
on those dates.

I validated and super validated the file but this did not correct
the error.

This must have happened this morning and I did not notice the error
until this after noon. So my backup (guess I need to state making
multiple incremental backups every day) is also incorrect.

Not sure where to go from here.
BTW, In almost 20 years of using Quicken this is the first time I have
had any problem that was not easily corrected and most of those were
operator error.

Any suggestions?

Marty

Posted by John Pollard on December 10, 2007, 4:02 pm
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 Marty K wrote:
> Running WIN XP Quicken 2007 and I noticed that one of
> my IRAs shows that its value is over $11M. Glad that it shows
> I have that much but it ain't true.
>
> The register shows the correct data on the date in question,
> but the
> Investing Center page shows a large market value and amount
> invested
> for one security. All other securities show the correct data.
>
> If I click the + sign to expand the suspect security (on the
> Investing
> center page) it shows 2 large transactions on two dates that
> are
> separated by almost 2 years but are way off from what actually
> occurred on those dates.
>
> I validated and super validated the file but this did not
> correct
> the error.
>
> This must have happened this morning and I did not notice the
> error
> until this after noon. So my backup (guess I need to state
> making
> multiple incremental backups every day) is also incorrect.
>
> Not sure where to go from here.
> BTW, In almost 20 years of using Quicken this is the first
> time I have
> had any problem that was not easily corrected and most of
> those were
> operator error.

You can start by Editing the transactions. You may find some
obviously incorrect data, and maybe just correcting that will
solve the problem. If there's nothing obviously wrong, you can
still clear the existing data, rekey it, then Enter the
"modified" transaction.

If Editing the existing transactions doesn't clear up the
problem, you probably have to delete them, then re-enter them.

If you have to do that, consider whether their temporary
deletion may have some effect on later dated transactions ...
say you delete and re-enter a Buy which had shares that were
later sold. [I can't tell you what the effect, if any, will be,
just to consider it.]

Backup before attempting any changes so you'll know you can't
end up any worse than you are now.

--
John Pollard
First initial underscore Last name at mchsi dot com
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Posted by R. C. White on December 10, 2007, 4:45 pm
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Hi, Marty.

After following John's suggestions...

Remember that - unless you've changed the defaults - Quicken automatically
backs up your data file weekly, so you should have one backup that is no
more than a week old. Look in your folder where you keep your data file
(Marty.qdf ?) for a subfolder named BACKUP. You should see five (by
default) sets of files, each set dated a week apart, with the latest set
dated within the past week. You should be able to Open that file in Quicken
and have to enter only a few days' transactions.

> This must have happened this morning and I did not notice the error

Or, better yet, Open that file and Export just the one account that has the
problem. Then close that file and Open your current file and Import that
one account, which should have the status before this morning's entries. If
you need details on how to do this, please post back.

RC
--
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
rc@grandecom.net
Microsoft Windows MVP
(Currently running Quicken 2008 Deluxe in Vista Ultimate x64)

> Running WIN XP Quicken 2007 and I noticed that one of
> my IRAs shows that its value is over $11M. Glad that it shows
> I have that much but it ain't true.
>
> The register shows the correct data on the date in question, but the
> Investing Center page shows a large market value and amount invested for
> one security. All other securities show the correct data.
>
> If I click the + sign to expand the suspect security (on the Investing
> center page) it shows 2 large transactions on two dates that are separated
> by almost 2 years but are way off from what actually occurred on those
> dates.
>
> I validated and super validated the file but this did not correct
> the error.
>
> This must have happened this morning and I did not notice the error
> until this after noon. So my backup (guess I need to state making
> multiple incremental backups every day) is also incorrect.
>
> Not sure where to go from here.
> BTW, In almost 20 years of using Quicken this is the first time I have
> had any problem that was not easily corrected and most of those were
> operator error.
>
> Any suggestions?
>
> Marty


Posted by Marty K on December 10, 2007, 6:26 pm
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Marty K wrote:
> Running WIN XP Quicken 2007 and I noticed that one of
> my IRAs shows that its value is over $11M. Glad that it shows
> I have that much but it ain't true.
>
> The register shows the correct data on the date in question, but the
> Investing Center page shows a large market value and amount invested for
> one security. All other securities show the correct data.
>
> If I click the + sign to expand the suspect security (on the Investing
> center page) it shows 2 large transactions on two dates that are
> separated by almost 2 years but are way off from what actually occurred
> on those dates.
>
> I validated and super validated the file but this did not correct
> the error.
>
> This must have happened this morning and I did not notice the error
> until this after noon. So my backup (guess I need to state making
> multiple incremental backups every day) is also incorrect.
>
> Not sure where to go from here.
> BTW, In almost 20 years of using Quicken this is the first time I have
> had any problem that was not easily corrected and most of those were
> operator error.
>
> Any suggestions?
>
> Marty
Well I took a long look at what was going on and did a couple of quick
calculations and found that the price per share was 84.65 rather then a
dollar a share (its a money market account). Guess I was misled by the
one huge price increase and (at first) did not look closer.
I did another update at 6PM and now the price per share shows $1 but
the Daily change is $-83.65 and all of the balances agree with Vanguard.
So where ever the shares prices are coming from were messed up this
morning and look like it has been corrected. Won't know for sure
until I do another update tomorrow.
Thanks for the suggestions, they all seemed viable but gland I did not
jump through hoops to get this fixed. I may still need to depending on
what happens tomorrow. Will let you the outcome.

Thanks
Marty

Posted by John Pollard on December 10, 2007, 6:48 pm
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Marty K wrote:
> Well I took a long look at what was going on and did a couple
> of quick
> calculations and found that the price per share was 84.65
> rather then
> a dollar a share (its a money market account). Guess I was
> misled by
> the one huge price increase and (at first) did not look
> closer.
> I did another update at 6PM and now the price per share shows
> $1 but
> the Daily change is $-83.65 and all of the balances agree with
> Vanguard. So where ever the shares prices are coming from were
> messed
> up this morning and look like it has been corrected. Won't
> know for
> sure until I do another update tomorrow.

Check your Quicken price history for the mm fund.

Sometime in this year, Quicken has begun occasionally exhibiting
a problem with money market mutual fund pricing.

I'm not sure whether this problem is a part of the larger
Quicken price download problem (which Intuit has already
acknowledged, and has explained is significant, and said will
take a long time to fix).

Occasionally - not very frequently, in my experience - Quicken
violates it's policy of not "downloading" prices for mm mutual
funds (any fund whose symbol ends in "XX"). Worse, Quicken
downloads totally erroneous prices for those mm funds. When I
see this phenomena, I notice mm fund prices/share in the $4 to
$5 dollar range (but there is no reason I can think of why the
incorrect price/share would be limited to that range) ... if you
already have a lot of mm fund shares, this could make a
significant difference in your reported net worth.

When I see the problem, I open the price history for the mm
fund, delete the prices, then make sure there is a $1
price/share at least as old as my oldest holding.

Sorry; I didn't even think of that when I read your post. But
it does show how important details can be when reporting a
problem: if you'd said your problem was with a mm fund, I would
have reported the problem that I've seen.

[And whenever you find what you believe to be a net worth
problem that relates to investment accounts, you should make it
a point to check your Quicken price history as part of your
investigation.]

--
John Pollard
First initial underscore Last name at mchsi dot com
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