I have a negative cash balance in my Reckon Accounts Personal e-trade account

Legacy KB ID: 3232

Question

Why do I have a negative cash balance in my Reckon Accounts Personal e-trade account?

Answer

Reckon Accounts Personal tries to balance the downloaded transactions & pre-existing (most likely manually entered) transactions with the holdings information (POSTOCK) provided in the download by e-trade.

If the downloaded and pre-existing transaction info does not match the downloaded e-trade holdings information, then a placeholder transaction is automatically created by Reckon Accounts Personal to balance it. This is to maintain full transaction history and is most likely the cause of any balance difference.

You will need to resolve your overall holdings against the transactional information currently in the investment account.

i.e. if you downloaded the maximum history from e-trade (i.e. the 100 days) and still had transactions dating from before that, you need to either:

• Delete any placeholders & manually enter full buy/sell transaction history for each security prior to the last 100 days

OR

• Create a single opening balance entry for each security by either trying to resolve the placeholder entries OR deleting the placeholder entries and creating new Buy/Add - Shares Added transactions.

Once the holdings information represented by the transactions in the account for each security matches the current holdings information provided by e-trade for each security in the download, he should have no further issues.

Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonaccounts

Or Log a Support Ticket: https://www.reckon.com/au/support/