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Schwab Acct downloads, but figures are off

Hi - I have researched the online threads for my question, cannot find any. I have Quicken 2020, with several Schwab brokerage accounts that I download and synch to Quicken. A few of the accounts do synch properly, but most are not showing the same value as my Schwab broker account (and it should). I download, then "accept" all the transactions. If things are way off, I will delete the account entirely in Quicken, the setup a new account, download again, which I assume would then correctly match my online Schwab figures...they do not. This tells me that something is either wrong with Quicken software or Schwab's download process. Does anyone else have this problem, and know how to fix?

Answers

  • StudpupStudpup Windows Beta ✭✭✭✭
    Maybe try setting up a new quicken file, and downloading into that and compare to what the browser says. Go line by line, see what doesn't match. If shares are wrong, maybe a transfer from previous custodian? If cash is wrong, maybe your core holdings is in a mutual fund or security that doesn't show as "cash". I delete those buy/sell for cash holdings. Off by cents? check for rounding errors in # of shares sold and/or fees when selling securities. More detail on the mismatch would help!
  • tdelcasaletdelcasale Member ✭✭
    Thanks, good info. However, I really don't care about the underlying transactions downloaded. All I care about is the total. Again, Quicken should download the "exact match" from the Schwab database. I use Intelligent portfolios, which means dozens of ETF's, Mutuals, an end user like me doesnt have time to analyze dozens of line items for 10 accounts, when all I need is correct total.
  • My Schwab accounts will no longer log in. (As of 10/17/2020.) Is anybody else having this problem? Quicken support has checked my log files, says everything is OK. Schwab says nothing wrong on their end. All other brokerage accounts work, have checked all things in the article, and they are correct (1.2TLS, 1st and 3rd party cookies, ect.) HELP!
  • Quicken_TykaQuicken_Tyka Moderator mod
    Hello @rolanddawson2500

    Thank you for taking the time to visit the Community to report this issue.

    I would like to perform a test to help isolate where the issue is coming from, this will involve creating a new test file and attempting to adding the accounts there to see if we get the same options.

    To create a test file please navigate to File > New Quicken and attempt to add the accounts at Schwab

    Do you receive transactions in this new file or do experience the same response as the original file?

    Please let me know!
    -Quicken Tyka
    -Quicken Tyka
  • Chris_QPWChris_QPW Member ✭✭✭✭
    Thanks, good info. However, I really don't care about the underlying transactions downloaded. All I care about is the total. Again, Quicken should download the "exact match" from the Schwab database. I use Intelligent portfolios, which means dozens of ETF's, Mutuals, an end user like me doesnt have time to analyze dozens of line items for 10 accounts, when all I need is correct total.
    I'm afraid that you don't understand the limitations of this system.
    You can't blindly accept the transactions and expect everything will always be right.
    I mean we would all like that way, but in this world isn't that "perfect".

    What is happening is that Quicken request the transactions and your financial institution sends them "encoded" in an agreed format.  As in action, amounts, shares, ...

    For this to work right the financial institution has to use the right actions and such.  And also the format used has to have a way to express the type of transaction/action that is being sent.  And finally Quicken has to support that type of transaction/action and interpret it properly.

    Well first off it isn't that uncommon that some financial institutions send the wrong action type for a given transaction.  For instance in my wife's 401K account Merrill Lynch always sends the monthly dividends as buys.  Needless to say I would just accept those transactions I would be way off.  So I change them every month when they come in.  Quicken has no control over this, it would have to be fixed by Merrill Lynch, but in this world trying to get them to change it is next to impossible.
    So I live with it.

    I'm betting the same is true for some transaction types from Charles Schwab.

    And then there are some kinds of options and such I don't ever work right because Quicken's support for them is weak.
    (I'm using the latest Quicken subscription version)
  • Chris_QPWChris_QPW Member ✭✭✭✭
    @tdelcasale One more thought, which might line up with your use case.

    They recently introduced a new feature called "Tracking Method", and there is a "Simple - Positions Only" setting.

    You will find this setting in the Account Details.
    Be sure to backup your data file before you try it.
    (I'm using the latest Quicken subscription version)
  • Yesterday I spent a lot of time on line with both Schwab and your Tech support. He had me send him a couple of log files. One of things he had me do was deactivate my Schwab accounts, and then reactivate them. They still would not log in. The other accounts work fine (EDJ and ICMARC). The Schwab account worked fine Friday, and would not log in Saturday AM. I am scared to set up a test file, as if it synchs with my Cloud, I will have a mess. I have spent about 4 hours this morning getting my Laptop, Desktop, and Ipad to link back up. (PS, I can log into my Schwab account with Google Chrome, so I know the account indentity and password are correct.)
  • Can I do what you want without having it Synch to cloud?
  • Chris_QPWChris_QPW Member ✭✭✭✭
    (I'm using the latest Quicken subscription version)
  • OK, I just hung up from Schwab Tech support. The guy I talked to said he had more than 15 calls this afternoon from Quicken Users who can not log in from Quicken. If my IP address had been blocked, I would not be able to log in through my browser, and I am able to do that. (Google Crome.) I can log in to my other brokerage accounts through Quicken. Sounds like Quicken has a problem with the linkage to Schwab? 312PM, 10/18/2020.
  • Chris_QPWChris_QPW Member ✭✭✭✭
    More likely that Schwab has a problem with their server.

    There isn't anything on Quicken side that just changed.

    But at any rate with that many people reporting a problem I'm sure they will figure out what is wrong in pretty quickly (or it will be fixed "on its own").

    It has been my experience that Direct Connect failures that are late at night or on weekends are mostly caused by the financial institution doing maintenance on the machine(s) that are hosting the OFX server.  And it seems like in a lot of cases they don't even know that they are affect the Quicken connection because the server is used for multiple purposes and they don't associate it with Quicken/Direct Connect/OFX server.
    (I'm using the latest Quicken subscription version)
  • tdelcasaletdelcasale Member ✭✭
    @Chris_QPW - Thanks for the responses, I'll try the simple position setting.
  • compuwisecompuwise Member, Windows Beta
    I am having a similar issue, though slightly different. I have a linked checking account for the problematic Schwab brokerage account. Even though the brokerage account shows as not set up for online banking, the checking account continues to sync interest payments only. No brokerage transactions are downloaded.

    The other three accounts at Schwab are connected and download properly.
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