Error in Schwab account in Reinvesting Dividends

Andrew Jarabak
Andrew Jarabak Unconfirmed ✭✭✭
This issue just started and am not sure it's linked with the changeover with Schwab. I'm using the latest Quicken for windows R37.37.

I look in my Schwab history and it reinvests dividends in one entry. Quicken does it incorrectly in 2. The first transaction is reinvest dividends however it lists the dividends but doesn't add anything to the cash. The second transaction says buy the stock and does deduct from the cash balance. This happened when the dividend was from a mutual fund. To keep the correct cash balance, I have had to change the Bought Transaction to reinvest dividends.


  • retird
    retird Member ✭✭✭✭
    edited December 2021
    Same issue here. [Removed-Disruptive]

    Windows 11 (2 separate computers)..... Quicken Premier.. HAVE USED QUICKEN CONTINUOUSLY SINCE 1985.

  • rjb
    rjb Member ✭✭✭
    I have a similar problem. Dividends seem to reinvest OK, but LT Gains show up as a buy transaction and there's also a Reinvest Interest transaction that shouldn't be there at all. For zero dollars though.
  • SandC
    SandC Member ✭✭✭
    I get a return of capital for long and short cap gain payouts.
  • I'm having the same issue with Schwab dividends/cap gains distributions. All of the sudden I've got a significant negative cash balance in an account which has been building since 12/13. My share balances are spot on so I'm thinking the cash was never credited prior to the reinvestment buys. By the way, version 36.54 which when I check for updates I get a response that I have the most current version.
  • artg
    artg Member ✭✭✭✭

    Good morning.

    BEFORE I do a OSU (One Step Update) I go into Schwab and manually check for new transactions.

    If there are any new transactions, I manually enter them into their respective investment account.  Then I do the OSU and see what matches.  Or, in other words, see how lucky I'm going to get today.  I accept the matches and delete the bogus downloads.

    Well, this morning I entered two transactions from one of my mutual funds.  They were a reinvestment of both short- and long-term capital gains.

    The download had FOUR transactions (from Charles Schwab and Co., Inc.) in which NONE matched.  I deleted all four (downloaded transactions) and our account is now accurate to the penny.

    I guess I need to look at the bright side and say well at least my account is activated, connected and the transactions at least downloaded into the correct account.  We'll just forget the minor issue that the downloaded transactions are not accurate.

    Oh, I forgot to mention that on the first OSU I got the red flag next to the account, but no transactions appeared.  I had to execute a second "Update Transactions."

    I hope you understand why I have little to zero confidence in Q downloads for our investments.  I hope you see the reason why every morning BEFORE I do a OSU (One Step Update) I go into Schwab and manually check for new transactions.  Most importantly, in the last four weeks I've learned to depend on my fellow Q Community members like you for guidance, counsel and suggestions.

    I sincerely hope this posting is read by the Q moderators.  

  • PG190
    PG190 Member ✭✭
    Same here. Have to manually update; then have to OSU, then two "update transactions per account", and then reconcile by having to add correct balance manually.
  • Art nyc
    Art nyc Member
    when Schwab shows a reinvested dividend, my shares go up, but the cash balance lacks the deposit and ends up negative
  • jl747
    jl747 SuperUser ✭✭✭✭✭
    Check this post and see if it helps.
    Your transaction may be listed in the Online Center

    Quicken Windows Business & Personal (Subscription) - Using the latest version -Windows 10 Pro

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