CC-501 Schwab

After waiting for over an hour on Quicken support line, finally was connected to technician who walked me through the process which worked! I was stuck in the CC-501 loop. Unfortunately, I do not recall the man's name but he was very patient and helpful. Anyway, the procedure he walked me through is as follows.
1. Back up you file just in case.
2. Go to you account list- Tools/Account List-and edit each and every Schwab account removing the zzz Charles Schwab & Co Inc. information and the account number. Do this for each Schwab account. Also, check the hidden file box and do the same for any Schwab accounts which appear there if any. This information will repopulate with the correct information once they are reauthorized.
3. Validate the file. File/Validate Repair. This takes a while, be patient. At the end will produce a text log file. Ignore this.
4. Sign out of your Quicken profile. Edit/Preferences/Quicken Id & Cloud Accounts/Sign in as a different user. Sign out. Then sign in again with your Quicken credentials.
5. Quicken will then load up your validated data file.
6. Close Quicken.
7. Start Quicken again.
8. Now for the good part. Go to Tools/Add Account. Will display the usual choices which you have attempted to do for the last week or so. Choose Schwab. Track your investment screen, choose what you like. Contacts Schwab. Charles Schwab & Co. requires you to authorize your accounts. Review the following information before you sign in. This is where in the past once you click sign in one would get the CC-501 error screen. Now it takes you to the Schwab log in screen. Log in with your Schwab credentials. If you have the two party authorization have the app up so you can enter the number.
9. A list of accounts will appear. Choose the ones you wish to authorize for Quicken. One completed the screen will return to Quicken.
10. One can then choose to create a new account for each entry or choose to use an existing account.
I chose use existing account and matched the ones I already have.
11. Now for the bad news, this works but when re authorizing the accounts, the history for the last two years or so is downloaded which results in several hundred transactions which will be a mixture of matches, near matches, and new. The matches you can accept with no issue, the near matches were just date mismatches. The new ones you have to delete one at time. Most of these are Reinvest of Dividends. The old Schwab way was to pay the dividend and then buy the same, two separate entries. This new type of transaction combines the two into one resulting in new entries which are duplicates of the dividend and buy entries. I had several hundred. Took several hours.

All in all it worked. I would have to give an A to the tech who helped me. An F- to Quicken for allowing this to occur.

Comments

  • TPerk
    TPerk Member ✭✭
    edited November 25
    Chuck,
    Thanks for the info. I followed it explicitly and still get 501 on the Add Account window. This is the window in pic.

    Any idea of what's happening?
  • TPerk
    TPerk Member ✭✭
    edited November 26
    [Removed - Duplicate]
  • Joseph Witkin
    Joseph Witkin Member ✭✭✭
    Chuck, if some of the newly downloaded duplicates have altered dates, how do you line them up with your existing transactions to determine they are in fact duplicates?
    I had 374 "new" transactions downloaded. I had just updated with zzz- prior to the attempted switch, so I assumed my account was up to date and all of the "new" transactions could be deleted (one by one, hours...) but that resulted in markedly incorrect cash balances and security holding quantities...