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How to add Schwab money market security manually?

pamela77

I am using quicken 10.15.7 on a 2013 mac. I haven't updated because my citicards are working on this version, and I know there is a current problem with citi, and I am afraid that if I update then my citicards won't work.

My problem is Schwab again. When there is a purchase of the Schwab value advantage fund, basically a money market holding account, quicken doesn't recognize it as a security. It show 30K going out of the account to buy it, but it doesn't show it as a security in the portfolio, so it looks like I have 30K less than I have. I download my transactions with Schwab and it usually works but I recognize that this was an issue before as well. How can I manually add the security ? I tried adding a transaction a purchasing it, but even so, it doesn't show up as a purchase.

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MikeatMike

I have the exact same problem with the exact same security, ticker SWVXX. Transactions are shown but it doesn't show up as a holding anywhere. I don't know when this started, it used to work fine. I'm using quicken deluxe version 6.9.0 on a 2020 Macbook Air M1.

jacobs

See this announcement dating back to February about the Schwab change. It's never been clear why they made this change. The announcement seems to hint that it was dictated by Schwab, but we don't know why.

MikeatMike

It says to deactivate and reactivate the account. I went and delinked and relinked all my Schwab accounts and is still isn't showing the money market included in the cash balance. I fixed it by manually entering a one time sale of the money market shares.

pamela77

Hi Mike, Can you tell me step by step how you did it manually? I tried entering a buy of the shares but it still didn't show up in my portfolio. Instead, I deleted the buy transactions so that the money is still in cash.

pamela77

Has anyone found a way to enter the transactions manually so that they show up as funds? If I leave the money in cash then every time I reconcile it shows me as not reconciled, and I have to do a hand calculation to subtract out the two funds = the SWVXX and the government money fund. It would work better if I could manually add the funds as securities.

MikeatMike

I'm not sure there is a way to do that. I'm just treating the fund as cash going forward. At least it shows up in my totals that way.

pamela77

So, do you mean you are leaving the money in "cash". What do you do when you reconcile?

pamela77

Is it listed as a security in cash or do you have to manually figure it out when you reconcile. Is it just lumped in with the cash?

MikeatMike

It’s just shown as cash in quicken. I don’t reconcile investment accounts other than to make sure share quantities are correct. As long as the cash plus mm in your account equals cash in quicken you should be alright.