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Posted by Don R on May 6, 2006, 9:55 pm
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> Don R wrote:
>>> Don R wrote:
>>>> I'm using Quicken 2005 Premier to track my IRA account with
>>>> TIAA-CREF.
>>>> When I download a transaction file it gives me placeholder
>>>> transactions that first delete all shares then add them back in,
>>>> all
>>>> on the same date. The transactions balance out, but it makes a real
>>>> mess of the account.
>>>>
>>>> Is there a way to get rid of these transactions? I've tried
>>>> deleting both the sell and buy transactions, but they just come
>>>> back again when I compare the account holdings using the On-Line
>>>> Center feature of Quicken. Any help would be appreciated.
>>>
>>> I think if you look carefully, you are creating ("Accept"ing) those
>>> placeholders; Quicken just offers them, you do not have to accept
>>> the
>>> offer.
>>>
>>> Also make sure you do not have two securities with very similar
>>> names
>>> in your Security List; one that matches what TIAA-CREF is
>>> downloading
>>> the other where you have accumulated your Quicken TIAA-CREF
>>> holdings.
>
>> Thanks for the quick reply. While it's true that Quicken is just
>> offering the placeholder transactions, they won't go away unless I
>> accept. It's sort of like "an offer I can refuse." When I delete
>> them they come right back again when I compare online holdings with
>> my
>> quicken account holdings.
>
> You mean the "offer" is still there, right? No transactions get in
> your Quicken account "register" unless you "Accept" the offer.
>
> As long as Quicken believes that your Quicken holdings differ from
> those downloaded by your fi; the offer(s) will never go away.
>
>> From what I read at the Quicken Help site, these transactions occur
>> when the account is "activated online" because the number of shares
>> don't balance out on the date the account is activated.
>
> I don't think this applies in your case. If the number of shares in
> Quicken was different than the number of shares at your fi, the net
> effect of your placeholder(s) would not be zero shares; it would be
> the difference between the number of shares in Quicken and the number
> of shares your fi downloaded for your holdings.
>
>> I was just
>> looking for a way to clean things up since the transactions are
>> pretty numerous and distracting. And in the end, they don't change
>> anything.
>
>> What I was hoping for was a way to accept the placeholder
>> transactions
>> then later on delete them from the account.
>
> You must get your Quicken holdings to agree 100% with the holdings
> downloaded by your fi, or you will continue to get offers to allow
> Quicken to add placeholders.
>
>> Your advise about looking for share holdings with names that are very
>> close is a good point. I think that's happened to me once or twice
>> in
>> the past. However, in this case that wasn't the cause.
>
> The specific placeholder situation you describe, where the net number
> of shares = zero, can happen, I think, when some characteristic of a
> security in the downloaded holdings differs from that characteristic
> in Quicken ... even if the characteristic is not visible (or easily
> discovered).
>
> For example: At one time I think we (in the Quicken forums) discovered
> that the "source" of the cash in a 401k account transaction (there are
> 7 possible cash sources allowed in the OFX spec) was being corrected
> by Quicken placeholder transactions. Q2006 *used* to have a "Cash
> Source" button in many 401k investment transactions which could be
> used to tell if the cash for the transaction came from an employee
> contribution, an employer match, a rollover contribtion, etc. If the
> source of the cash in Quicken differed from the source of cash
> downloaded by the fi; placeholder entries would be generated whose net
> effect on number of shares was zero ... but behind the scenes, the
> transactions were removing the shares from the "incorrect" cash source
> and adding them back with the "correct" cash source. To the user, it
> looked like nothing useful was being done. (I no longer can find the
> "Cash Source" button in Q2006 ... though maybe I'm not looking hard
> enough. But even if the button isn't available, Quicken may still try
> to "correct" cash source.)
>
> I'm not sure which other such characteristics might exist.
>
> One thing you could try. See if the TIAA-CREF securities have their
> "Matched with online security" box checked (Edit the security in the
> Security List). If the box is checked (and I think it should be), try
> unchecking it; then the next time you download, Quicken should ask you
> whether the TIAA-CREF securities are new or if they should "match" an
> existing security. You can select the correct existing Quicken
> security to match them to. (Make a backup just before you do any of
> this.)
>
> --
> John Pollard
> First initial underscore Last name at mchsi dot com
> Please reply to newsgroup
>
I can see from the discussion that the best course of action here is to
accept the placeholders. Thanks for the replies and the insight into
the issue. I can see that this is a fairly complex problem that may not
be easily solved by just deleting the transactions,
Regards,
Don
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