> On 1/29/2024 1:08 PM, JohnSmith wrote:
> I've got two Fidelity IRA accounts that have the incorrect > balance in Quicken. I do not know why this happened -
> but I would like to attempt to delete (clear?) the accounts > and redownload the data (from scratch?).
I would not go that route as my first choice.
I would attempt to determine what the underlying
problem is and correct that.
[You can't re-download transactions to a existing
Quicken account: once a transaction has been downloaded,
Quicken will never again present that transaction to the
user if it appears in a subsequent download.
You would have to delete the existing account and
set it up again to re-download any previously download.
transactions. But even that will not guarantee to
download all previously downloaded transactions.
Deleting accounts should be the very last resort
for addressing any Quicken problem.]
For your problem, start with the fundamentals:
the "balance" in an investment account consists
of the value of the securities held in the account
plus the value of the cash held in the account.
The accuracy of the "cash value" should be easy
enough to check against a printed statement.
It's the actual cash held; plus possibly the value
of money market funds, if those funds are reported
as "cash".
The accuracy of the "securities value" depends on
Quicken having the correct number of shares owned
and the correct price/share for each security held.
You can compare the number of shares held in Quicken
against the number of shares held at the financial
institution using the Quicken Investment > Portfolio Value
report compared to a printed statement from the financial
institution (make sure the ending dates agree).
If the number of shares in Quicken is incorrect,
there must be one or more Quicken transactions
missing, extra, or incorrect.
It should not be too difficult (maybe time-consuming,
but not complex) to compare the Quicken
transactions against the transactions reported on
your printed statement - and manually correct any
differences.
If all Quicken securities have the correct number of
shares owned, and the account "securities value" still
disagrees with the financial institution, then there must be
one or more incorrect prices for the date of comparison.
At Investing > Investing Tools > Security Detail View
selecting a specific security then choosing Edit Price History
from the "More" dropdown, will present all the historical
security prices Quicken has stored for the selected security.
In that dialog, you can Add new prices, Delete existing prices
or modify existing prices to correct any possible errors.
To help narrow down when the Quicken account might have gotten
out of balance, you can use the Quicken Net Worth report. If
you use an Interval of Month, you can compare monthly Quicken
values to monthly financial institution statements.
And on the Customize > Display tab in the Net Worth report, you
can check the box for "Account detail"; which will cause Quicken
to list Tag subtotals for non-investment accounts and Security
subtotals for Investment accounts. That may help locate the
discrepancies.