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Be Careful with Schwab Downloads -miscatorizied by Quicken... CG, Div, Int, etc

rl.wetzel

As title advises check your Schwab downloads carefully with the Schwab info. Many of the downloads are miscatorizied by Quicken, A number of transactions came in as deposits and should have been cash dividends

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Comments

Eastcoast

Having the same issues with Schwab mis categorizing downloads. Each download requires manual updates to each transaction to get them corrected. Additionally, I need to run a one step update two or sometimes three times to get both bank and investment transactions downloaded.

pgavon

I had the same problem and posted an issue and Quicken is aware of the problem. See below --

Quicken Kathryn
Quicken Kathryn Administrator admin
December 13 edited December 13
Hi all,
Thank you for reporting this issue--I apologize that you haven't had a reply on this yet. We are aware of these issues of miscategorization, which seem related to the specific mapping of these transaction types in the API. We are working on fixing these issues as quickly as possible.

If you can, please go to Help > Submit Feedback in the Quicken program, and send us your log files (if you haven't already) with the subject line: ATTN: Kathryn. This will make it easier for us to pinpoint and correct the issue.

I will also add this information to our alerts and FAQs, and keep those updated with information when it's available.

(thanks to @Tom Young for flagging this!)

[CTP-3132]
[CTP-3116]
Quicken Kathryn
Community Administrator

I would suggest that you reconcile all of your Quicken balances to Schwab (i.e. amounts paid, transaction type, number of shares, etc) after every download of transactions (and related corrections) to make sure that your Quicken balances reconcile to the Schwab balances.

jl747

Make sure you report this through Quicken.

Go to Help > Report a Problem if you haven't do so already.

See

https://community.quicken.com/discussion/comment/20223618#Comment_20223618

hikersc

I had the same issue. It appears to want to classify any income other than a dividend (LTCG, STCG, etc.) as Return of Capital. This is mostly a problem with mutual funds which make distributions this time of year.