UBS Private Bank cash will not update

Unknown

Cash Balances in UBS Private Bank will not update in the one step update.  I need to update them manually each time, and for each account.  IS there a setting I can enable to have the cash balances automatically update?  I am using Quicken 2017 Premier

Jim_Harman

Is it a banking account, an investing account, or a checking account that is linked to an investing account?

Do you get an error message when you try to do a One Step Update, or is it just that the balances are wrong?

When you say "I need to update them" is it the cash balance that you need to update manually? Normally each account would only have one cash balance.

Unknown

I have several UBS investment accounts.  When I click one step update, all transactions update, but the cash balance in each account does not update. There is no error message.  I then need to go on the UBS website to see the balance, then manually update the cash balance in Quicken

Jim_Harman

Thanks for clarifying. A few more questions:

Are there perhaps hidden Placeholder transactions in the account? To see these, go to Edit/Preferences/Investment transactions and make sure Show hidden transactions is checked.

Do your accounts have linked checking accounts? This is controlled by a setting in Account Details. Be sure to do a backup before changing this setting, in case you do not like the result.

When a downloaded transaction should affect the cash balance, such as a Buy, a Sell, or a dividend received, does it show in your Transaction list (register) as a Buyx, Sellx, etc? That would mean the cash is being transferred to another Quicken account.

q_lurker

JFG said:

I have several UBS investment accounts.  When I click one step update, all transactions update, but the cash balance in each account does not update. There is no error message.  I then need to go on the UBS website to see the balance, then manually update the cash balance in Quicken

The cash balance for an account should flow from the transactions in the account. There should not be a separate "update" for that balance. What transactions are missing that make the cash balance wrong? Perhaps MM sweep transactions?

Unknown

Thanks for the questions.   First, I should let you know that rather than try to "fix" the ongoing issues, I created a new file and added only eight UBS Private Bank investment accounts.  I though maybe a "clean" file would be a good place to start.  Interestingly, the cash balances on the initial download were incorrect for six of the accounts.

To your questions:

1.  Yes, I saw several placeholder transactions, mostly asking for cost information.  All of these transactions were for Structured Note products.  Adding the cost basis did not affect the cash balance.
2. There are no linked checking accounts.  The cash to purchase and from sale of securities sits in the cash within each account.
3. Buys and Sells show in the transaction account for each transaction of the Structured Note Securities. 

There seem to be a couple of issues going on, mostly revolving around the Structured Note Products

1.  Quicken seems to be unable to match Buys and Sells , so we have both positive and negative share balances for two separately listed securities that net out to zero.
2. Cash balances do not change with the transactions.
3.  In one case the initial cash number was not downloaded correctly.

I think the real issue is the Structured Notes.  As I get more time, I am trying to rebuild the history in each account and eliminate the transaction placeholders to see if that will help. In one case, when I cleared the placeholders, and deleted initial cash balance download with a negative value, the cash balanced out.  I will watch this account and see how future transactions are treated.

Thanks.

Jim_Harman

It sounds like you have at least one instance where a Buy or Sell in Quicken was assigned to the wrong security. You will have to go back through your statements and the transactions and sort this out.

This leads to the Placeholders you are seeing, when Quicken's share balance for each security does not match the balances downloaded from UBS.