Placeholders in Quicken 2007 Premier

Posted by Ron on August 20, 2007, 12:18 pm

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Last month I set up a new account at Fidelity. I rolled my Fidelity
401(k) into this account.

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

Posted by John Pollard on August 20, 2007, 12:52 pm

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"Ron" wrote

> Last month I set up a new account at Fidelity. I rolled my

> Fidelity 401(k) into this account.

> 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.

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.

> 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?

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.

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup

Posted by Ron on August 28, 2007, 9:47 pm

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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

Posted by sharx35 on August 21, 2007, 1:33 am

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> Last month I set up a new account at Fidelity. I rolled my Fidelity

> 401(k) into this account.

> 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

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

Posted by Ron on August 28, 2007, 9:50 pm

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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