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Merrill Lynch reinvestment transactions not downloading

Lori

I have multiple Merrill Lynch accounts, some download a transaction under Add Shares for dividend reinvestment, other accounts do not and I have to manually add them. Why the inconsistency? When it works, three transactions are downloaded: Dividend Income $100, Payment/deposit ($100) and Add Shares - which I have to add the cost basis dollar amount, but all the other fields (date, security, number of shares etc) are populated. When it doesn't work, I have to enter the Add Shares transactions.

This all occurred when ML quit having fractional shares on their statements.

This has nothing to do with placeholder entries.

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Comments

John_in_NC

This inconsistency would be from ML as Quicken is simply reporting what gets downloaded from them. I can see how this would be frustrating.

Seeing both a Dividend Income transaction and a payment/deposit transaction of the same amount would indicate the cash is also getting double reported. I can't say for sure, as I don't know the intricacies of your account type.

williamhouk3

I have the same problem as Lori... what's curious is it works fine in Quicken Windows, but the Mac version does not download the Add Shares transaction... suggestions anyone? (I'm trying to transition Windows to Mac...)

ronholl1

Same here, typically ML sends 3 transactions exactly as Lori said, I have one account that usually gets all 3 and two accounts have never gotten the Add Shares transaction.

I have the Windows version running on a virtual machine and have confirmed that it picks up all 3 transactions (Div, Added, Withdraw) every month for all 3 accounts, so it does not seem to be what ML is sending over but what Quicken is doing with it. Even when it works, I still need to update the share price if I want cost basis but still more convenient.

Keep hoping it will fix itself but it does not seem to be related to anything Merrill is transmitting and I remain hopeful it can be fixed, any suggestions?