Empty transactions from Schwab Equity account. How to fix it?

mikek753b

This is about Schwab Equity account that gets RSU.

Quicken got 2 transactions per RSU deposit, both marked as Deposit with $0.00 and no any other information at all. One for Laspse and another for Deposit.

Expected 1 Invenstment BoughtX transaction from the same account cash with Stock tiker , FMV price, number of shares and in the Memo extra info about the Award date and etc

I have to delete those empty cash deposit transactions and manually create BoughtX transaction with all required data for the Buy

How I can get expected Investment type transaction as online downloaded?

thanks

Tom Young

1st, what does this account at Schwab actually DO? You say that the account "gets RSU" and I assume that means it is designed to track RSU grants and vesting, but at vesting where do the real shares actually show up? Is it in this account or in some other account at Schwab, like maybe your regular brokerage account?

Is there actually cash in the account? I wouldn't expect that a BoughtX transaction would necessarily occur with the vesting of an RSU as, conceptually, vesting creates shares more or less out of thin air. One day you have an RSU, the next day you have shares. Of course "cash" frequently accompanies a vesting since, frequently shares are sold (or withheld) to pay the taxes that are required on vesting (compensation creation) but that's a separate matter.

I'm not at all sure you can get correct accounting entries out of this RSU account at Schwab, but in order to do so you're going to have to involve Quicken (the company) because with EWC+ downloading Schwab no longer creates the accounting entries as they used to do when Direct Connect was the downloading method. Instead, Schwab allows the aggregator (Intuit) access to selected information in their computers and the aggregator creates or finds the entries that get sent along to Quicken (the program). (At least, that's how I understand it as there's never been an entirely clear explanation of who does what, exactly, with EWC+.)

At a guess the "Lapse" (not a Quicken "action" - Quicken uses "vest") and "Depostit" entries come right off of the Schwab "history" page at their site and Quicken (Intuit) is simply copying that information. I've seen very similar "nonsense" entries show up with the maturity of a T-Bill at Schwab.

I think the first thing to do is to go into that account at Schwab and click on "History" and see exactly how Schwab shows the transaction on that client-facing page and I wouldn't be surprised if the transactions shown there were more or less what you received into Quicken. It would be great if you could post a screen shot of that. Redact any information that you don't want to be made public.

mikek753b

thank you for the reply.

Quicken also doesn't have balance for RSU for the account, while it shows for ESPP

It maybe related of required Quicken support for RSU overall to properly track RSU from paystub

I use workaround for RSU paystup as manual split, this is from where cash comes for RSU vesting, also Lapse RSU sale cash and taxes, yes takes time, but works meanwhile.

above Deposit action has all required info for BoughtX, but Quicken sees it as Cash Deposit with $0.00 and no any info

So, parser or processor doesn't do what is expected for this special RSU type transaction as result

And I ave to manually insert those BoughtX transactions to track my RSU, cost basis, date, number of shares and etc

I expect it to be done under Quicken Subscription that I pay for online sync feature

Tom Young

"above Deposit action has all required info for BoughtX, but Quicken sees it as Cash Deposit with $0.00 and no any info"

There's not enough information there to do that and in Quicken a Deposit action refers to money and that entry in Schwab refers to shares with no associated dollar amount.

If you correctly establish the RSUs in Quicken - using an offline Investment Account - then a vesting event will calculate a compensation amount based on the per share market value, it will allow you to tell it how many shares were withheld for taxes and calculate that amount too, and then automatically transfer those shares to any other Quicken Investment Account. No need for some sort of workaround.

Although I could easily come up with a somewhat complete accounting entry based on the two Schwab entries, (you'll notice that there's no specification as to how those tax dollars were scattered around to the various taxing entities), I doubt if Quicken going to do that as they'd have to craft a program to "translate" what Schwb is showing here into Quicken-readable accounting entries, and then also do that for every other Financial Firm that handles RSU grants and vestings, each with their own particular format. But you can always ask them.

mikek753b

thanks for the reply

As I mentioned I use paystub per RSU to manually enter all cash and tax values into my Checking account, with resulting $0.00 Deposit

Whatever Quicken can extract from Schwab Equity transaction will help to reduce manual entries and human typos

So I asked to get meanful transaction instead of empty.

No, I don't want to use extra offline account on top of what I already have if possible.

Any reason I can't do proper RSU tracking in existing online account? what I'm missing?

thanks