Security Mismatch

System

This discussion was created from comments split from: Securities Mismatch.

Patrick

The Security Mismatch window pops up every time I do a trade. I just downloaded the transactions from Schwab and each transaction is accepted. Then the Security Mismatch window appears. It looks like the Quicken software routine is not checking the account register before producing the report. In this case I just sold Schwab US SMALL CAP ETF and bought INVESCO QQQ Trust. I click ok to the mismatch window.

Another annoyance is when I sell a stock and I'm accepting the transaction. The popup asks for me to use Lot identification or Average Cost Basis when I'm selling all of my positions in a IRA account. If I chose Average Cost and then it says something about reporting this information to the IRS then it churns for about a minute while calculating the average cost for a total of two buy transactions. The IRS does not care about the cost basis for a IRS account. It's eventually all reported as income. No capital gains....

Quicken_Tyka

Hello @Patrick

Thank you for taking the time to visit the Community to post your issue, although I apologize that you haven't received a response.

If you are still needing assistance and haven't done so already, please take a moment to review the steps available here.

Please let us know how it goes!

Thank you,

-Quicken Tyka

Unknown

You can set the account to default to lots or avg cost. If you choose lots it might go faster (I realize in an IRA it makes no sense). Unless you have a bazillion dividend repurchases, it will just bring up a list of lots and you just check them all off (seems faster than calculating avg cost, but also a seemingly unnecessary extra step). The only point to it, I guess, is to calculate your investment's performance because Quicken doesn't know if you want to calc on average cost or lots, but with tax sheltered accounts, you should have the option of turning that dialog off.

I'm having issues with the comparison discrepancy also, but I think it's either broker related, or managed account related where the broker uses proprietary instruments or not well described money market funds (my cash is always off, and it never seems to get "sales" of MM funds correct)

markus1957

Money Market Funds are a different issue in Quicken.  Many FIs are not reporting them correctly to Quicken in the downloaded current Holdings table. 

Other securities mismatches are the result of a Quicken change that now reports shares and share prices to 6 decimal points.  When you should have zero shares and Quicken reports a positive or negative fractional share, the way to fix them is to go to the last Sell transaction for the problem security and click the "Sell all shares" box.  Quicken will re-compute the sale and eliminate the fractional share.

If you actually still hold some shares and it's off by a fraction, you have to manually adjust the last sale to 6 decimal points so the correct number of shares remain.

As to the OP, the screen shot shows the typical example where the user just has to look at the transaction history and figure it out.  Somewhere along the line a transaction or transactions were omitted. In that case the transaction history in the Quicken register needs to be reviewed and modified so that it matches the transaction history at the financial institution.