Incorrect Transactions Downloaded

Hi, since the migration to new download procedures in my Schwab account I've had some single "Long Term Cap Gain Reinvest" transactions that downloaded as two transactions: a "Revinvest - Income Reinvested" (with no share balance change?) and a "Buy - Shares Bought" for the same amount (with share balance change). This results in the cash balance of my account being quite different between what is reported by Schwab (bigger and correct) and what is reported by Quicken (smaller and incorrect). What is the best way to fix this, do I need to check all the downloads and correct if necessary? Or will the next download fix this?

Thanks all,
Mark

Best Answer

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Answer ✓
    Hi again @Rob191,

    Since you are seeing this behavior in your Schwab account(s), I still suggest that you use the link I provided.  I cannot say for certain whether the already identified Schwab problem is also affecting your other non-Schwab accounts, but I suspect that it could be (based on the similar problems you are seeing).

    Frankx

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

Answers

  • When I do one step update, only transactions from checking updated. I have gone to (Go to Edit>Preferences> Downloaded Transactions and unchecked Option to "Automatically add to banking registers and unchecked. Still does not work. Even when I go to an individual account and click on update transactions, they still do not update.
  • artg
    artg Member ✭✭✭✭
    @Mark5712

    Good morning Mark.

    First, I have little to zero confidence in Q downloads for our investments.  Therefore, every 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 get today.  I accept the matches and delete the bogus downloads.

    What used to (before 18 Nov) take minutes for the results of a One Step Update now takes a significant amount of time because of the preparation required before the OSU.

    Now, one of the Q moderators is going to read this and tell me to validate, super validate, deactivate, reactivate and then report a problem.  I have less confidence in those instructions then I do the OSU.  In other words, in the last four weeks I've learned to depend on my fellow Q Community members like you for guidance, counsel and suggestions.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @Mark5712,

    Sorry to hear that you are having this problem.  However, some little comfort might be that you aren't alone.  Apparently, with the fiasco switch-over to the new downloading methodology, Schwab has messed-up the coding on some downloaded transactions.  

    This is a Schwab issue and apparently the Quicken folks are working with them on this issue.  Here's a LINK to a thread that discusses it.  It requests that users report this to Quicken, likely to show that significant number of Schwab customers who are affected.

    Hopefully Schwab will fix this soon.

    Frankx  

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • Rob191
    Rob191 Member
    Not just Schwab, my Vanguard accounts have the same misidentified transaction problem. Short and Long Term Capital Gain transactions are received in Quicken as Interest transactions. For the few I loked at, actual Interest and Dividend transaction seem to come down correctly. I'm running Premier 37.37, a "Check for Updates" says I'm current.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Answer ✓
    Hi again @Rob191,

    Since you are seeing this behavior in your Schwab account(s), I still suggest that you use the link I provided.  I cannot say for certain whether the already identified Schwab problem is also affecting your other non-Schwab accounts, but I suspect that it could be (based on the similar problems you are seeing).

    Frankx

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • Mark5712
    Mark5712 Member ✭✭
    Thank you @Frankx for the link. Yep there have been some issues with the changeover, it took a couple of tries to get downloading to work. Guess it's manual entry until they get the kinks worked out. Thanks to you also @Rob191 for the tip to check my other investment accounts.
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