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George Walker Bush
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 Posted: Thu Jul 10, 2008 3:21 pm Post subject: Quicken errors in Net Worth |
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I'm using Quicken 2006 Deluxe and it is having problems showing correct
figures for Net Worth.
For example, let's say it shows net worth of $50,000 after I performed an
"Update Online Quotes" late last night to download yesterday's closing
stock prices. This morning, I went to "Portfolio" and performed an "Update
Online Quotes" again to get mid-morning quotes. At the bottom of the
screen it shows my Portfolio's value INcreasing by $2,000, but my Net Worth
has DEcreased to $49,000 (these are not the actual numbers, but you get the
idea).
Why is this happening and is it fixed in more recent versions? |
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TomYoung
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| Posted: Thu Jul 10, 2008 8:14 pm Post subject: Re: Quicken errors in Net Worth |
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On Jul 10, 8:21 am, George Walker Bush <presid...@whitehouse.gov>
wrote:
| Quote: |
I'm using Quicken 2006 Deluxe and it is having problems showing correct
figures for Net Worth.
For example, let's say it shows net worth of $50,000 after I performed an
"Update Online Quotes" late last night to download yesterday's closing
stock prices. This morning, I went to "Portfolio" and performed an "Update
Online Quotes" again to get mid-morning quotes. At the bottom of the
screen it shows my Portfolio's value INcreasing by $2,000, but my Net Worth
has DEcreased to $49,000 (these are not the actual numbers, but you get the
idea).
Why is this happening and is it fixed in more recent versions?
|
Net Worth is the sum of all your assets and liabilities, so changes in
other accounts away from your Investment Account can swamp the change
in your investment account. Based on your example it seems that the
sum of declines in other asset accounts (e.g., expenses paid by check)
and increases in other liability accounts (e.g., expenses paid via
credit card) amounted to -$3,000 which, when added to your $2,000
increase in the investment account nets out to a $1,000 decrease in
Net Worth.
You don't say where you're reading this net worth figure - I assume at
the bottom of the account bar - but if you run a net worth report
making sure to include *all* accounts, even hidden ones, you should be
able to see the composition of changes in net worth from day to
day.
Tom Young |
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Alotta Fagina
Guest
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| Posted: Thu Jul 10, 2008 10:28 pm Post subject: Re: Quicken errors in Net Worth |
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In message
news:3b97b8d5-696e-4846-9078-ee2bf1901418@p25g2000hsf.googlegroups.com,
TomYoung <tgyoung@yahoo.com> done wrote:
| Quote: |
On Jul 10, 8:21 am, George Walker Bush <presid...@whitehouse.gov
wrote:
I'm using Quicken 2006 Deluxe and it is having problems showing
correct figures for Net Worth.
For example, let's say it shows net worth of $50,000 after I performed
an "Update Online Quotes" late last night to download yesterday's
closing stock prices. This morning, I went to "Portfolio" and
performed an "Up
date
Online Quotes" again to get mid-morning quotes. At the bottom of the
screen it shows my Portfolio's value INcreasing by $2,000, but my Net
Wor
th
has DEcreased to $49,000 (these are not the actual numbers, but you
get t
he
idea).
Why is this happening and is it fixed in more recent versions?
Net Worth is the sum of all your assets and liabilities, so changes in
other accounts away from your Investment Account can swamp the change
in your investment account. Based on your example it seems that the
sum of declines in other asset accounts (e.g., expenses paid by check)
and increases in other liability accounts (e.g., expenses paid via
credit card) amounted to -$3,000 which, when added to your $2,000
increase in the investment account nets out to a $1,000 decrease in
Net Worth.
|
No, the Net Worth properly updates immediately when i enter a check,
credit card, or other transaction.
| Quote: |
You don't say where you're reading this net worth figure - I assume at
the bottom of the account bar
|
Correct.
| Quote: |
- but if you run a net worth report
making sure to include *all* accounts, even hidden ones, you should be
able to see the composition of changes in net worth from day to
day.
|
I do not have any hidden accounts with non-zero balances. |
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George Walker Bush
Guest
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| Posted: Thu Jul 10, 2008 10:29 pm Post subject: Re: Quicken errors in Net Worth |
|
|
In message
news:3b97b8d5-696e-4846-9078-ee2bf1901418@p25g2000hsf.googlegroups.com,
TomYoung <tgyoung@yahoo.com> done wrote:
| Quote: |
On Jul 10, 8:21 am, George Walker Bush <presid...@whitehouse.gov
wrote:
I'm using Quicken 2006 Deluxe and it is having problems showing
correct figures for Net Worth.
For example, let's say it shows net worth of $50,000 after I performed
an "Update Online Quotes" late last night to download yesterday's
closing stock prices. This morning, I went to "Portfolio" and
performed an "Up
date
Online Quotes" again to get mid-morning quotes. At the bottom of the
screen it shows my Portfolio's value INcreasing by $2,000, but my Net
Wor
th
has DEcreased to $49,000 (these are not the actual numbers, but you
get t
he
idea).
Why is this happening and is it fixed in more recent versions?
Net Worth is the sum of all your assets and liabilities, so changes in
other accounts away from your Investment Account can swamp the change
in your investment account. Based on your example it seems that the
sum of declines in other asset accounts (e.g., expenses paid by check)
and increases in other liability accounts (e.g., expenses paid via
credit card) amounted to -$3,000 which, when added to your $2,000
increase in the investment account nets out to a $1,000 decrease in
Net Worth.
|
No, the Net Worth properly updates immediately when i enter a check,
credit card, or other transaction.
| Quote: |
You don't say where you're reading this net worth figure - I assume at
the bottom of the account bar
|
Correct.
| Quote: |
- but if you run a net worth report
making sure to include *all* accounts, even hidden ones, you should be
able to see the composition of changes in net worth from day to
day.
|
I do not have any hidden accounts with non-zero balances. |
|
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TomYoung
Guest
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| Posted: Thu Jul 10, 2008 10:46 pm Post subject: Re: Quicken errors in Net Worth |
|
|
On Jul 10, 3:29 pm, George Walker Bush <presid...@whitehouse.gov>
wrote:
| Quote: |
In messagenews:3b97b8d5-696e-4846-9078-ee2bf1901418@p25g2000hsf.googlegroups.com,
TomYoung <tgyo...@yahoo.com> done wrote:
On Jul 10, 8:21 am, George Walker Bush <presid...@whitehouse.gov
wrote:
I'm using Quicken 2006 Deluxe and it is having problems showing
correct figures for Net Worth.
For example, let's say it shows net worth of $50,000 after I performed
an "Update Online Quotes" late last night to download yesterday's
closing stock prices. This morning, I went to "Portfolio" and
performed an "Up
date
Online Quotes" again to get mid-morning quotes. At the bottom of the
screen it shows my Portfolio's value INcreasing by $2,000, but my Net
Wor
th
has DEcreased to $49,000 (these are not the actual numbers, but you
get t
he
idea).
Why is this happening and is it fixed in more recent versions?
Net Worth is the sum of all your assets and liabilities, so changes in
other accounts away from your Investment Account can swamp the change
in your investment account. Based on your example it seems that the
sum of declines in other asset accounts (e.g., expenses paid by check)
and increases in other liability accounts (e.g., expenses paid via
credit card) amounted to -$3,000 which, when added to your $2,000
increase in the investment account nets out to a $1,000 decrease in
Net Worth.
No, the Net Worth properly updates immediately when i enter a check,
credit card, or other transaction.
You don't say where you're reading this net worth figure - I assume at
the bottom of the account bar
Correct.
- but if you run a net worth report
making sure to include *all* accounts, even hidden ones, you should be
able to see the composition of changes in net worth from day to
day.
I do not have any hidden accounts with non-zero balances.
|
Have you run a Net Worth report when you notice the problem and then
compare the report to the Account Bar? If you compare the report line-
for-line to the Account Bar and each line agrees but the totals are
different that might indicate a problem, or not. Also, in the back of
my mind I seem to recall some funkiness with Quicken's handling of x-
dividend stocks, but I don't remember exactly what that issue is. I
*think* Quicken might calculate the "Day Change" and "Day Gain/Loss"
for x-div stocks incorrectly, or at least not consistent with how the
markets make the calculation. Again, next time this occurs look at
each stock's Day Change (share price change) and compare that to how
your broker is presenting the change; you might spot something there
that helps.
Tom Young |
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JimH
Guest
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| Posted: Fri Jul 11, 2008 7:19 pm Post subject: Re: Quicken errors in Net Worth |
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George Walker Bush wrote:
| Quote: |
I'm using Quicken 2006 Deluxe and it is having problems showing correct
figures for Net Worth.
For example, let's say it shows net worth of $50,000 after I performed an
"Update Online Quotes" late last night to download yesterday's closing
stock prices. This morning, I went to "Portfolio" and performed an "Update
Online Quotes" again to get mid-morning quotes. At the bottom of the
screen it shows my Portfolio's value INcreasing by $2,000, but my Net Worth
has DEcreased to $49,000 (these are not the actual numbers, but you get the
idea).
Why is this happening and is it fixed in more recent versions?
|
It sounds like some data that was downloaded was incorrect, or
incorrectly entered data that affected the later download.
I also noticed a big drop in net worth, but attributed it to the
incomplete data for a split in PCU (Southern Copper). The stock price
had dropped by 2/3rds, but the split had not yet been registered. I
entered the split at 3 for 1, and the data once again looked good.
I've also seen problems like this when I've mixed up the number of
shares and price when entering a stock purchase transaction. For example
47.65 shares at $100 instead of 100 shares at $47.65. Then, when an
update corrects the price and I have 47.65 shares at 47.65. Suddenly,
after an update, the net worth figure is wrong.
If it were me, I'd run a net worth report, show columns for each month,
or week, and see where the amounts changed. Then focus in on where the
change appears.
I doubt that it is a Quicken bug, or anything that is fixed in a more
recent version.
--
Jim |
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