Charles Schwab Downloads Missing Data
(1) While both the Schwab Prime Broker Fee and the Exchange Processing Fee are downloaded, the Executing Broker Commission is NOT downloaded. To correct this requires each entry to be manually updated. The software should be doing this automatically.
(2) Interest from Charles Schwab Bank is categorized as Personal Income and not as Interest Earned.
(3) Depository Bank (ADR) Fees are categorized as Uncategorized. These should be categorized as Depository Bank (ADR) Fees.
(4) Deposits to or withdrawals from Charles Schwab Bank are NOT downloaded. This requires numerous, time consuming manual entries. The software should be downloading these transactions automatically.
(5) Quicken for Mac must support corporate acquisitions/mergers and divestitures/spin-offs as it does in Quicken for Windows. this feature is more important than cosmetic updates.
Comments
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"Deposits to or withdrawals from Charles Schwab Bank are NOT downloaded. This requires numerous, time consuming manual entries. The software should be downloading these transactions automatically."
I'm confused. Is your Schwab Bank account(s) linked as individual accounts when you set up your Schwab authorization? (And if you go to the security center on the Schwab web site, does it show all accounts enabled for Quicken?) Absolutely every bank transaction has always downloaded for me.
As for ADR fees, etc… there is no magic categorization… you have to do that yourself at least once for QMac to learn what those are supposed to be. For some things, you just have to recategorize.Quicken user since 1990, MacBook Pro M2 Max on Sequoia 15.2
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The Charles Schwab Bank account is a sweep account that is integrated into my brokerage account. It is not a seperate account.
You stated that "you have to do that yourself at least once for QMac to learn what those are supposed to be." As for the ADR and other items mentioned, I have manually entered these hundreds of times and QMac doe not learn.0 -
I'm lost about what deposits and withdrawals are not showing for your cash sweep feature. That is NOT a Charles Schwab bank account. Schwab sweeps investment account cash balances into one of two Schwab bank entities, each with FDIC insurance, but there are zero transactions related to the sweep. All deposits and withdrawals are to your brokerage account in the situation you describe (no real bank account)…. Unswept cash and the bank sweep cash total to your brokerage account cash balance. Movement of funds between uninvested cash (fresh dividend) and the sweep account are not bookable transactions even if you look at your Schwab account history.
But I'm only familiar with the decades old self-directed Schwab One account which has no fees or transaction charges. It sounds like you are paying for an investment advisor that involves fees and commissions, so perhaps something totally different happens there?
Quicken user since 1990, MacBook Pro M2 Max on Sequoia 15.2
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I have a third party money manager who uses Charles Schwab as its broker/dealer. So our situations are quite different.0
