How do I get Deposits to show up in a Report?

Tax time and my Report that is tracking Interest Income is not showing my Bank Interest that is coming in from my Schwab brokerage accounts. Just noticed that is is being downloaded as a "Deposit (Action Field)" in my Schwab account register.

I have "Deposit" checked in the Category list (along with Int Inc, Interest Income, IntInc) in the Customize Reports, yet it still does not show up in the Report.

AND P.S., the individual entries downloaded from Schwab come in as a "Deposit Transaction" with a comment in the Memo field that this is interest - which I suspect is the real problem since it is not downloaded as an "Inc" transaction.

Is there another way to get these "Deposit" entries to show up in my Report short of going back and changing the Action field in each deposit to something like IntInc redo the Deposit Transaction as an Inc Transaction.


ron, now in kansas

Best Answer

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    I think the problem here is that there's no Category attached to a Deposit action.  I've never let a Deposit action into any of my Schwab Accounts but I'd guess that they work as "one sided entries" similar to "opening balance" entries that Quicken creates when you create a new Account in Quicken.  (What report are you using where you see "Deposit" as an available action?  I just scrolled through all the "Actions" available for selection in a couple of the Investment reports and didn't see that.)
    I assume this began when Schwab switched their "sweep" fund from an actual money market fund to Schwab Bank, (paying you a fraction of a percent on your idle cash), and I think that began in 2018 some time, so you're not faced with fixing a huge number of transactions, which I'd guess is what you need to do.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Make sure the Schwab account is included in the account customization for the report.

    Select one of the missing transactions then click on Edit and see what category the deposit was assigned to. Correct this if necessary. If this is one of the tax reports, the category you select must have an appropriate tax line item assigned. If you choose _DivInc or _IntInc, it will be recorded as if you entered an Income transaction.

    Alternatively and perhaps better, you can edit the transaction to make it an Income rather than a Deposit.
    QWin Premier subscription
  • Jim, thanks for the response - and yes, of course, I have the Schwab accounts selected. But yes, there is a problem with the Category field in the Deposit Transactions - it is empty.

    But also, in my other accounts, the Interest entries are going into the account as an Interest Transactions and the Category field there is also empty - so why are those showing up in my Interest Report and the Deposit Transactions are not.

    ron now in kansas
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    I'm assuming you talking about Tax Summary and/or Tax Schedule reports.  If not, please be more specific as to which report(s) you are referring to.
    The first thing I would do is edit one of the affected missing transactions to see what category is listed there.  For interest it should be showing "_IntInc".  If it doesn't show that you will need to change it and repeat this action for each affected transaction.
    Once you've confirmed that "_IntInc" is being used, pull up your report, again, to see if the transaction(s) now show up.  If not, click on the gear icon to the top right of the report to bring up the Customize pop-up.
    • Display Tab:  Make sure all columns are checked (click on "Reset Columns" if they are not) and if "Subtotal by" is listed as an option, select "Category."
    • Accounts Tab:  Make sure all the accounts you want included are checked.  (For tax reports I usually  all accounts.)
    • Categories Tab:  Make sure all categories are checked.
    • Payees Tab:  Make sure all payees are checked.
    • Tags Tab (if this is shown):  Select all tags
    • Advanced Tab:  Make sure Amounts=All, all Status items are checked, Transactions Types=All Transactions, Subcategories (if listed as an option)=Show All.
    • Date Range:  Make sure the date range is what you want to see.
    • Click OK.
    In my experience, transactions downloaded from investment companies are usually categorized correctly and the issue more often than not is because something is being excluded from the report.
    (QW Premier Subscription: R34.24 on Windows 10)
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    "But also, in my other accounts, the Interest entries are going into the account as an Interest Transactions and the Category field there is also empty - so why are those showing up in my Interest Report and the Deposit Transactions are not."
    The "action" of "IntInc" effectively "fills in" the Category field; that's simply part of Quicken's programming.  But a "Deposit" could be anything and Quicken doesn't know what it is; that's where you come in by supplying the correct Category.
  • Tom (and Boatnmanic)-

    Thanks for the help - and Tom, I think you have nailed what is happening - which is actually somewhat along the lines I was thinking, but don't have the specific knowledge I need in that area.

    Yes, I can see, believe that Quicken treats the "Inc" transaction as an Interest category, particularly when the "Interest" field in that transactions is filled in. And I understand your comment about Deposits can be anything, because I do have other Deposit transactions in my accounts.

    And I am confident that if I changed all of the Interest "Deposits" into "Inc" transactions, everything will come out right.

    So what is the best, easiest way to do that (i.e. is there a way to replace the Deposit transactions all at once instead of individually - and maybe just as important, is there a way for the transactions, when they come down from Schwab, to be made into an "Inc" transaction instead of a Deposit transaction.

    ron now in kansas
  • Tom,

    Responding to your earlier post that I missed.

    Sorry, I don't even remember the type of Report I used because because I set it up, probably years ago.

    And yes, the real culprit, as you know, is the Deposit transaction. I looked back in my Schwab accounts and see that the, now Interest entries, used to come down from Schwab as Div transactions on their Cash Reserve Bank.

    So I guess the real fix is just to get the Deposits transactions to come down, or be changed into an Inc transaction.

    ron now in kansas
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    If you're just letting those downloads into your transaction list without any change then I'd think a "Find" specifying the Memo field "starts with" BANK INT would pull them all up.
  • OK Tom, thanks for the help. Unfortunately Quicken Search is letting me down on this one.

    Searching for Bank Int in the Memo field gets me about 700 transactions.

    And Searching for "Deposit" in the Action field yields zero finds - don't know why that one isn't working - it seems to be able to find other entries in the Action field, but not Deposit.

    But I see what is going on now and I will fool around with it a little, but not sure I can figure out a way to change the entries, in bulk. It isn't something I absolutely have to have, but it is nice to be able to verify the 1099-INT entries downloaded into Turbotax.

    thanks for the help.

    ron now in kansas
  • Tom,

    Thanks for sticking with me - and yes, I was on the same track. I narrowed the entries I was concerned about down to 63 by Searching for PREMIER in the Memo field, but wasn't offered the option of Editing the entries.

    And that was because I was using the "Find" under Edit instead of "Find/Replace" - and that fixed my problem (Thanks for that).

    I have since selected a few entries and edited the Category field to add an "Interest Income" (a Category I already had defined) to the currently empty Category field - and everything came out beautifully. So I am all set to go now.

    I wanted to use the approach of leaving the original "Deposit" transaction in my account registers - just to keep track of what Schwab was up to. This appears to be something that Schwab changed in 2018 because that is as far back as I could find these particular transactions. BUT as I mentioned before, Schwab had been reporting these transactions as DIVs, but further examination showed them to be on US Treasury Funds as opposed to SCHWAB PREMIER BANK INTEREST on the cash in the account.

    OK, even further examination shows they just started using SCHWAB "PREMIER" BANK INT sometime in 2018. Anyway, I doubt I will go back much further than 2019 to fix things. But now that I know what is going on (WITH YOUR HELP), and I now know how to fix them (WITH YOUR HELP), I will at least get my 2019 Reports to match my Turbotax Schedules.

    Not meaning to overwhelm you with these details, but thought if some other people were having the same questions, this would give them a little more insight as to what is going on.

    Thanks again for sticking with me and doing the extra work, the tests yourself, to get me on the right page.

    Will try to mark your last response as case closed, or whatever.

    ron in kansas
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Glad you got it straightened out, but your reference to "Schwab Premier Bank" sent me on a hunt to figure out what was going on as the sweep interest Deposits downloaded to all my Accounts are along the line of "BANK INT [From Date] - [To Date] SCHWAB BANK". 
    Turns out that Schwab has established multiple banks in order to provide FDIC insurance for clients that have more than the current FDIC insurance limit of $250K and apparently you're in that camp.  But I'd think that in this situation you'd be seeing two interest amounts deposited each month, one for the "original" Schwab Bank and then another for the "Premier" Schwab bank.  But I take it that's not what you're seeing?  (To avoid confusion Schwab might just lump the two payments into one that gets posted to client's accounts.)
    Schwab introduced the notion of idle cash being swept into their affiliated bank back in 2018 and rolled that out over the course of that year.  Before that idle cash was swept into a "brokerage" money market fund and that's why the entries were labeled as "dividends"; mutual funds pay "dividends", not "interest", even though all their income is from interest. 
    I've avoided using the default sweep as much as possible because of the pitiful interest rates https://client.schwab.com/secure/cc/products/investments/cash_solutions/sweep_and_interest_services (Schwab really didn't make this change for your benefit, understand), but instead have been using the Schwab Value Advantage money market fund.  This fund is bought and sold with a 1-day settlement so it is extra work but the interest rates almost keep up with inflation.
  • Tom,

    Well, thanks for all of that information. Yes, I am very weak on tracking the cash in my account - mainly because I am usually pretty fully invested and don't have a lot of cash to worry about.

    Of course, I am and "have gotten" KILLED with my accounts over the last 3 weeks - as I am sort of like a deer in the headlights at these major market downturns. Most of my investments are pretty Long Term and most are up quite a bit - and I hate to sell them because of the taxes I would have to pay.

    BAD STRATEGY - the 15% Cap Gains would have been puny compared to the massive paper loss on my investments - and every time this happens, I say "'When will I ever Learn".

    Anyway, enough of my woes. But yes, some of the entries I needed to change just had BANK INT in them as opposed to the PREMIER BANK Memo comments, but I didn't feel like detailing all of that stuff. The big help was you mentioning the Find/Replace idea for updating all of my maverick entries - and with the capabilities on that screen (sorting by dates, account names, etc.), it made the updates very easy to do.

    Thanks for the follow-up.

    ron in kansas
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