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Subject Author Date
IRA Mutual Account Fund Balance is Way Off! BRH 03-25-2008
Posted by BRH on March 25, 2008, 6:10 pm
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 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!


Posted by danbrown on March 25, 2008, 9:36 pm
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 On Mar 25, 5:10 pm, BRH <BRH> wrote:
> 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!

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

Posted by gmalis1 on March 26, 2008, 1:05 am
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> On Mar 25, 5:10 pm, BRH <BRH> wrote:
>
>
>
>
>
> > Awhile back, I posted a question about this, but didn't get any answer
> > that worked. =A0Since then, the problem has repeated itself, but now I
> > know precisely what initiates it, so I'll try again.... =A0 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 =A0weeks ahead of time as a reminder t=
o
> > 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! =A0LOL.
>
> > 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. =A0So, my
> > questions are:
>
> > 1. =A0Why does this happen?
> > 2. =A0How else do I remove the entry for a deposit to the IRA in a way
> > that doesn't screw up the account balance?
>
> > Thanks!
>
> 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- Hide quoted text -
>
> - Show quoted text -

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.

Posted by BRH on March 26, 2008, 10:17 am
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gmalis1 wrote:

>
>>>
> 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.

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!

Posted by BRH on March 26, 2008, 10:11 am
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danbrown wrote:
> On Mar 25, 5:10 pm, BRH <BRH> wrote:
>
>>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!
>
>
> Two questions:
> 1) Are the investment accounts designated as "Single Mutual Fund"
> accounts? (just trying to clarify the issue)

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

>
> 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

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





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