Reconcile Shares => report of missing shares that aren't missing

maryh777

For a Schwab account, after a download, and if I run "reconcile shares", a window pops up with a list of securities that Quicken has but Schwab doesn't. When I check my holdings in Quicken vs Schwab, everything looks fine.

maryh777

Also, in another account, the reconcile shares function returns a report of "unidentified security" downloaded at 400 shares (but there isn't one) and "missing 400 share"s of a Vanguard ETF, symbol VGT (which isn't missing in Quicken)

DaveC

I am also having trouble with the Reconcile Shares function. Here is my scenario:

1. My financial advisor buys shares of a new (to me) security using my Schwab brokerage account
2. Schwab emails me a purchase confirmation
3. I open Quicken (Premier version R37.67 build 27.1.37.67) and click One Step Update
4. Quicken uses Express Web Connect+ to download the new transaction from Schwab. No errors.
5. I get a pop-up indicating that Schwab has a new security. I select the option to have Quicken add the new security.
6. I then see the purchase transaction in the Downloaded Transactions list. I accept the transaction.
7. I check the register and see the date, Action, Security, Description, Share Balance, and Investment Amount are all correct for the new transaction
8. From the account register I click the Holdings button and verify that the Name, Quote, Shares, Market Value, and Cost Basis amounts are correct for the new security. The "As Of" date is the same as the new transaction.
9. I close the Holdings window, click the account gear icon, and select Reconcile Shares
10. A window opens showing that there is a share mismatch for the new security. The Shares Reported is correct; the Shares in Quicken is zero.
11. I try One Step Update again, and see that the Reconcile Shares error still persists.
12. I repeat step 11 for good measure with identical results.
13. I run Validate and Repair on the file with the three top boxes checked. No errors or warnings are reported.
14. I try Reconcile Shares again with the same error result.
15. I wait a day in case there is uncertainty in the "as of" date calculation. Same result.
16. I check the Security List and click on the new security. The Transaction History, My Holdings, Security Detail, Quote, and Price History sections are all correct.

It seems that the Reconcile Shares function is not recognizing the Quicken share balance in the same way as other areas of the program do. Please advise on what I am doing wrong or how I can work around what appears to be a bug in this pretty important function.

DaveC

Update:

After Schwab posted some new transactions and I downloaded and accepted them into Quicken, the Reconcile Shares function no longer shows a mismatch. This may have something to do with the fact that the Quicken account has the "Show cash as a checking account" option set to "yes," since that checking account did not show any newly downloaded transactions to account for the cash spent on the original newly acquired security. I am pretty sure the subsequent new transactions did show transactions on the associated checking account, but I am not 100% sure about that.

It seems that Schwab must post, and I must download and accept both the brokerage purchase transaction AND the matching cash transaction that pays for the purchase in order for the Reconcile Shares to fully recognize the purchase. If Schwab posts one transaction before the other, the Reconcile Shares function will show an error until later one arrives.

This is only my theory, though. Could Quicken Support please could explain the detailed mechanics of the Reconcile process? Thanks!