Schwab bogus placeholder to remove a security in account

scott967

Ever since the download change at schwab I have had problems with one account. This account had a couple of securities and a linked bank account. Ever since the change one of the securities (a mutual fund) keeps getting messed up every time I do a download. I keep getting a DivX for the mutual fund that transfers into the linked bank account. Then I get a placeholder transaction that I can only see in the security history that removes all the shares of the mutual fund. I've had this ever since last December. I have about 20 years of transactions (at least 250 separate) for this security. I've been able to get rid of the placeholder in the past and restore the proper share balance by opening the security report for the security, finding the placeholder entry and "double-clicking" it which gives me an "adjust share balance" transaction and I then enter the correct share balance for that date, but the placeholder keeps coming back after a download. Then edit the DivX entries since the placeholder date to ReinvDiv entries. Note: the placeholder does not show up in the account register (Placeholder entries (0)).

It appears to me that somehow Quicken thinks the security is actually a linked bank account instead of just another security in the account. There is a "real" balance in the linked bank account.

Quicken Jared

scott967 said:

Ever since the download change at schwab I have had problems with one account. This account had a couple of securities and a linked bank account. Ever since the change one of the securities (a mutual fund) keeps getting messed up every time I do a download. I keep getting a DivX for the mutual fund that transfers into the linked bank account. Then I get a placeholder transaction that I can only see in the security history that removes all the shares of the mutual fund. I've had this ever since last December. I have about 20 years of transactions (at least 250 separate) for this security. I've been able to get rid of the placeholder in the past and restore the proper share balance by opening the security report for the security, finding the placeholder entry and "double-clicking" it which gives me an "adjust share balance" transaction and I then enter the correct share balance for that date, but the placeholder keeps coming back after a download. Then edit the DivX entries since the placeholder date to ReinvDiv entries. Note: the placeholder does not show up in the account register (Placeholder entries (0)).

It appears to me that somehow Quicken thinks the security is actually a linked bank account instead of just another security in the account. There is a "real" balance in the linked bank account.

Hello @scott967,   

I apologize about this issue with placeholder transactions. Thank you for bringing this matter up for discussion here on the Quicken Community. 

Before I can offer further troubleshooting advice, I want to know what connection method is being used to link or add accounts to online banking services. You can check this by going to Tools > Account List and then clicking on the Edit button in the row associated with the affected accounts. Next, go to the Online Services tab in the new window that appears afterward. The information we are looking for should be found under the Online Setup callout box.

I look forward to hearing your answer. 

Thank you,

Quicken Jared