Compare to Portfolio is incorrect until the next day

Ray

In the Online Center you can compare the Quicken portfolio to that of the financial institution. Yesterday I downloaded transactions and accepted them. Quicken popped up a list showing a difference between it's and institution's units equal to the newly-added transactions for each security. Today the counts match. It appears that Quicken isn't undate Quicken's count before it runs the report until the next day.

P.S. This form request that we include the product version. Why not add a manditory field in the form for this information? (I'm using 2019 HBR R17.6 Buikd 27.1.17.6

K.O. (Win-Premier)

I have noticed that as well Ray. Seems like the compare is based on shares in Quicken at the time of download as opposed to after the new transactions are accepted.

Joel Jakubson

This does happen regularly with Schwab.  The problem is the DATE of the holdings that Schwab reports to Quicken.  If you go to the Online Center, look at the Holdings tab.  You will see that the positions reported are correct as of today (1/17/2019), but the screen says "Holdings at Charles Schwab & Co., Inc. as of 1/16/2019 4:00:00."  So, what happens (I assume) is Quicken compares the holdings reported by Schwab (which are REALLY as of 1/17/2019) with the Quicken holdings as of 1/16/2019.  Hence the mismatch if there were any transactions on 1/17/2019.  The same is true for cash balances.  These clear with a download the next day.

So, it may not be Quicken's fault, but instead is another example of inconsistent data reported by the FI.  Maybe Quicken can be more clever, but then the law of unintended consequences might bite us in the butt.  I always tell folks that if they see a mismatch, and there are current day transactions, then they should do nothing and download again the next day.  Or better yet, download on a weekend.

miklk

I get that all the time in E*Trade and I believe it is simply that the holdings are updated when you do the OSU BUT the transaction that would make the match come in the following day. Just ignore the mismatch on day 1 and after the next days download, it should all match.

I think that is the situation you are getting?

Joel Jakubson

miklk said:

I get that all the time in E*Trade and I believe it is simply that the holdings are updated when you do the OSU BUT the transaction that would make the match come in the following day. Just ignore the mismatch on day 1 and after the next days download, it should all match.

I think that is the situation you are getting?

I think that is true with E-trade.  With Schwab, the transactions and the holdings agree, but the DATE of the holdings is one day off and thus confuses the Quicken comparison engine.