JPMorgan - Multiple transactions for a single dividend

Rob

Every time JPMorgan adds a dividend to an account it takes multiple transactions to account for the payment. First there is the payment - which comes in as the investment itself. Then there is a moment when the money is converted to an instrument called US DOLLAR, then there is yet another transaction called JPMORGAN DEPOSIT ACCT B BROKERAGE. All of this in reality represents Cash and Cash Equivalents which I would prefer to appear in the Cash column so that I know how much cash and equivalents are in the accout. But so far it seeks like the cash column is supposed to be 0.00 although some accounts are no 0 in which case the whole account is messed up and one can't fix it because there are too many transactions involved in each transaction to make it easy to understand and correct. it was never like this at previous brokerages. SO same accounts, same transactions, just much more complicated at JPMorgan. Can Quicken fix this?

Tom Young

I assume that you're describing what you're seeing being downloaded into Quicken. If that's the case then I'd suggest posting a screen shot of this "dividend" event so we can see what's going on as your description really isn't providing a clear mental picture of the the transactions.

For example you say "First there is the payment - which comes in as the investment itself" and I don't really know what that means.. Transactions in Investment Accounts typically fill in various columns of the Transaction List (register) like "Action", "Security", sometimes "Description", and so forth, so "comes in as the investment itself" isn't clear. What does this transaction actually look like in the Transaction List?

Similarly I don't understand "Then there is a moment when the money is converted to an instrument called US DOLLAR." Is this a separate and distinct transaction following the first transaction, or are you seeing something happing on in the Transaction List that's changing the first downloaded transaction? That "there is a moment" expression suggests the latter, though that seems impossible.

Looking at the various "JP Morgan" entries in the fidir.txt file it's clear that JP Morgan is using EWC for downloading, so either the aggregator (Intuit) or Quicken is responsible for seeking out the information in your account and "translating" it into understandable Quicken transactions, and it doesn't sound to me like that's happening very well, so ultimately you probably are going to have to deal with Official Quicken Support directly to see if it's possible to get the downloads changed.

Rob

Agree that the aggregator is not handling the account detail very well. Here are some of the (redacted) screenshots that illustrate the multiple transactions related to a single dividend event, and the US DOLLAR instrument that is somewhere involved in processing the investment activities. Note that the US Dollar instrument is not in the same acct as the account that the other graphic is pulled from. So these may result from different root causes, but both illustrate that basic aggregation - translation from account activity into Quicken-speak - are not occurring in an easy-to-understand fashion.

Tom Young

As to the first screen shot, although the "Actions" are reversed, this looks to me like a simple Div event from(some company) followed by a "sweep" (Bought) event into something called "JPMorgan Deposit Acct Brokerage…" (I'd expect that this money is being swept into a JP Morgan bank account.) This is somewhat similar to this entry in my file:

I say somewhat similar in that this is a dividiend reinvestment from a Schwab money market fund, but because I've elected to have the MMF treated as a security, not cash, the appropriate "Action" is Bought. If I had elected to have the MMF treated as cash then the trasactions would be (I belive) a simple Div action that would show up in the Cah Amt column and be included in the Cash Bal column. So I think the crux of your problem is that you have cash misidentified as a security?

I expect that this is the reason for the Securities Comparison Mismatch of your second screenshot.

I'm not quite sure how this came about or how to change it and it might very well be a screwup on the Intiut-Quicken aggregator's end so I think this is a time to call Official Quicken Support.