Verify Cash Balance creating placeholder entries

Dave212 Member
edited June 2023 in Investing (Windows)

The Verify Cash Balance periodically pops up for my brokerage account. Generally the downloaded amount matches the Quicken balance. I would like to dismiss this message without creating a placeholder entry in the account. Clicking Done creates a placeholder. Clicking the X creates a placeholder. Why is there no cancel button?

Also, why would the Verify Cash Balance dialog box appear when the balances are identical?


  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭

    "Also, why would the Verify Cash Balance dialog box appear when the balances are identical?"

    I have almost the same problem with some, but not all, of my Schwab Accounts where one or the other versions of the Schwab Value Advantage fund is being reported incorrectly, with constant "Security Comparison Mismatch" screens popping up. I am, however, able to dismiss the pop ups without creating a Placeholder.

    Have you by any chance told Quicken that one of the Schwab money market funds, like SWVXX, should be treated as "cash?" That is, SWVXX is treated as if it's a "sweep" fund instead of being treated as the security that it really is?

    That "Verify Cash Balance" screen seems to be a relatively new screen and I'm guessing that it shows up in the situation where a sweep fund is being treated as cash. Looking through this forum for "Verify Cash Balance" comes up with less than a handful of hits, all dated after the time Schwab abandoned the Direct Connect method of downloading in favor of EWC+, and some of these discussions mentioned entanglement with money market funds being treated as cash. None of them, however, mentioned that they couldn't dismiss that Verify Cash Balance screen without creating a placeholder.

    If this is "new behavior" and you can associate it with a recent Quicken update, you might want to roll back to the previous version, or if you aren't on the newest version try updating to the latest version to see if that fixes anything.

    I have a feeling that you might have to pick up the phone and call Official Quicken Support to get this one straightened out.

  • darbusa
    darbusa Member ✭✭✭

    I have the same problem but mine occurs on every download from one particular Schwab account. I moved 5 accounts I had at Vanguard to Schwab about 2 years ago. The timing was not good because it was right in the middle of the Schwab migration to EWC+ and downloads at that time were a mess. During the migration I encountered the "Verify…" pop-up the first time for an IRA account for $3 so I let Quicken create a placeholder because I was not going to search for a $3 discrepancy. Ever since I get the pop-up every time their is some activity on that account and it always creates a blank placeholder that I have to delete. It's not the end of the world but it is very irritating. One of these days I'll get with support but its May of 2023 and it's been doing this for at least 2 years.

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