SWVXX buy transaction did not download

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Setters
Setters Member

I have read the threads that addressed this issue, and they have all been closed. I have not found a solution that works for me. So I am wondering if someone can give me a solution that works. I am using Quicken for Mac.

I bought shares of SWVXX from Schwab a bit ago. The transaction did not download, so my cash balance in my Schwab account in Quicken reflects the total (cash + shares of SWVXX), and SWVXX does not show in my Schwab portfolio in Quicken. If I manually add the transaction (with the correct date), Quicken deducts the amount from my cash balance, but SWVXX still does not show up in my Quicken portfolio (holdings), and the total of my Schwab portfolio is incorrect (less by the amount in SWVXX). The interest for SWVXX is being downloaded, however.

Is there a current correction for this? Again, last threads didn't provide a solution and all pertinent discussions are now closed. Thank you.

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Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    I'm not a Schwab client, so I can only tell you what I've gathered from reading posts here; hopefully someone who has accounts at Schwab will jump in and add more detail. I believe that SWVXX will not show up in Quicken, and Quicken will always show the sum of cash plus SWVXX as Cash. I don't think there's a way around that. (Unless you want to disconnect Schwab from downloading, and enter things manually.)

    Quicken Mac Subscription • Quicken user since 1993
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    I believe what @jacobs is referring to is described in this thread: SWVXX (Value Advantage Money Market Fund) and SWGXX (Schwab Government Money Fund).

    Since I don't have any Schwab accounts I don't have much more insight into this or know if anything regarding it has changed. Perhaps a Schwab customer will pipe in here with additional comments/insights.

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

  • Setters
    Setters Member
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    Thank you both. So appears to be by design…. bad design alas, but sounds as if on Schwab's side, not Quicken's. Thanks for the response and the link to the announcment.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    You are welcome. Yes, it was a Schwab decision.

    Schwab is not alone among brokerages doing it this way. In fact, they are a relative late-comer to this practice. Fidelity has been doing it this way since 2004 or maybe even earlier. And there are others. It's been an ongoing point of disagreement by Quicken users for many years with some people loving it and others not so much.

    As for me and my Fidelity accounts: At first I really disliked it but after I've gotten it through my head that the MMF in question (which is my designated Core Account….essentially a sweep account) is Cash in Quicken I came to realize that it really makes it easy to see exactly how much liquidity I have for security buys and for distributions. I just need to keep reminding myself that Core=Cash and Cash=Core. Not sure how it works with Schwab but Fidelity will automatically generate the necessary buy/sell trades of the MMF so I can use it pretty much just like cash without needing to generate any trade orders….just place the order for the new security purchase or distribution and Fidelity takes care of the rest for me. As my wife likes to say, "Easy, breezy!"

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

This discussion has been closed.