Eliminate Download of Schwab Sweep Fund Downloads

carlshanson
carlshanson Quicken Windows Subscription Member
edited August 2022 in Investing (Windows)
Schwab uses Government Money SWGXX as a sweep security in my Traditional IRA Account. A previous discussion noted that before the Schwab update in November 2021, only SWGXX dividends were added as transactions. Currently buys transactions are downloaded also. For example, one day stock dividend transactions are downloaded, the next day an equivalent SWGXX buy transaction is downloaded. I have to manually delete the buy transaction to maintain the correct cash balance. This issue did not exist in the previous Schwab update process. Transfers in and out of sweep funds should be transparent in Quicken.
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  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭
    You want SWGXX treated as cash, not a security.  You should be able to make that change in Quicken.
    See if the suggestion in this thread
    works for you.

  • carlshanson
    carlshanson Quicken Windows Subscription Member
    Dividend transactions from stocks get posted as cash in download from Schwab. Then the SWGXX buy transaction is also posted as cash, but a sell transaction is never downloaded. The sweep doesn't get completed resulting resulting the dividend amount being entered twice. I have to delete the SWGXX transactions to keep my account cash position correct. Since the dividend cash transactions are being entered by the download, the sweep transactions should be removed from Quicken downloads.
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