Schwab fiasco

Suegrose Member ✭✭
edited May 2022 in Reports (Windows)
By now I have spent hours with Quicken tech support and a lot more hours analyzing on my own. These are the errors I am currently finding:
1. Reinvested income is being incorrectly subtracted from cash by Quicken most (but not all) of the time. When a company issues a dividend and then reinvests the cash in their stock, the investor's cash balance does not change, rather the number of shares held increases. This function worked fine until the November change. With all of the end of year dividends being issued, this will create a huge number of errors.
2. Schwab has automatic overnight sweeps of cash into money funds (eg SWGXX). All cash is swept and so pure cash should always be zero with the money fund holding the cash. Sensibly the total remained on the Quicken register as cash until the November change. Now it is being deducted from cash but not reported as a holding, creating incorrect cash and total value amounts.
3. Some Quicken reports do not agree with each other. The one I ran into is a difference between the Quicken Net Worth report balances and the "holdings," also called "account overview". The latter is what we see on the home screen as the account balance. Both Net Worth and Holdings reflect the reinvested income error in the cash balance, but the Net Worth report does not reflect the reinvested income error in the total value for each account. If Quicken is getting the Net Worth balances to be correct, perhaps they can build on that to fix the register and "holdings" amounts.


  • woppenhe
    woppenhe Member ✭✭✭
    Has Quicken now resolved the issue with Schwab.  Is it safe to expose a Quicken file to Schwab.
This discussion has been closed.