Brokerage Transaction type not recognized.

My brokerage made a mistake with commissions and canceled the original transactions as "Bought-Canceled" and entered the new one as "Bought-Adjusted". However Quicken is not picking up and downloading those transactions. How can I fix this, or do I have to manually enter these transactions?? Thanks for your help.

Best Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Accepted Answer
    I've never experienced this, so I can't say for certain, but I think while you could enter them manually, it might be simplest to adjust the original transactions which downloaded to match the adjusted values provided by your brokerage. 
    Quicken Mac Subscription • Quicken user since 1993
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Accepted Answer
    The OFX standard (which is how the information is sent to Quicken) has no syntax for "Buy Cancel" or "Buy Adjust".  So any transaction they send to fix this would be a kind of kludge, of some kind of transaction that they feel would reverse the mistake.  And in that they could even be making a mistake because it would be something done very rarely.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Accepted Answer
    I've never experienced this, so I can't say for certain, but I think while you could enter them manually, it might be simplest to adjust the original transactions which downloaded to match the adjusted values provided by your brokerage. 
    Quicken Mac Subscription • Quicken user since 1993
  • RickO
    RickO SuperUser, Mac Beta Beta
    Which brokerage? I had this happen recently with Fidelity and they all downloaded properly. You may want to contact the brokerage.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    How did you learn of the "Cancelled" and "Adjusted" transactions?  Did they appear on a statement, or on the brokerages website or did they download into Q.
    BUT, I'd probably just edit the original transaction and be done with the matter.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Henryth
    Henryth Member ✭✭
    Sorry that I'm a bit late with my response, but here are some answers.
    On second try I managed to adjust the original downloaded transaction, simpler than manually adding the other ones. Thank you!
    My brokerage is MorganStanley and I learned about it after talking to my broker about an issue and going to the brokerage website to check if the corrections had been executed. Then later I noticed that Morgan Stanley is using different terms for transactions than Q. For example MS uses "bought" and Q uses "Buy", if I use Zelle to transfer money, MS will say "Zelle Payment" and Q will make it "Payment/Deposit". Other one is MS will indicate "Qualified Dividend" and Q will make it "Dividend". Q doesn't download "Cancel".
    Don't know why??
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    "Why" in this case, is simple.  MS is showing you one thing on their website and downloading something else.

    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Accepted Answer
    The OFX standard (which is how the information is sent to Quicken) has no syntax for "Buy Cancel" or "Buy Adjust".  So any transaction they send to fix this would be a kind of kludge, of some kind of transaction that they feel would reverse the mistake.  And in that they could even be making a mistake because it would be something done very rarely.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • Henryth
    Henryth Member ✭✭
    Okay, I understand. Thanks for the explanation!
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