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eTrade (now Morgan Stanley) Dividend Transactions downloaded as Deposits

Knitgirl

Apparently, this problem has been occurring since Jan 2023, but I only noticed it today (Jan 2024). Every dividend transaction from eTrade / Morgan Stanley appeared in Quicken as a Deposit.

Every Re-invested Dividend transaction appeared as two transactions, a Deposit and a Reminder.

I am running Quicken Premier (Windows) Version R53.32, Build 27.1.53.32.

I just went through the task of Editing every Deposit Transaction to correct them to either a Dividend or Interest as well as correcting several to re-invested dividends.

I have seen closed discussions about Schwab and TDA, but can't find any about eTrade.

I have other investment accounts where this is not occurring. I reported the trouble through Quicken (Report a Problem), but don't expect any magic to happen from that.

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Comments

Quicken Kristina

Hello @Knitgirl,

To assist with this issue, please provide additional information. When you say re-invested dividend transactions show up as a deposit and a reminder, do you mean you have a reminder for that transaction in your Bills & Income section?

Since you manually corrected the transactions, have any other dividend transactions downloaded? If so, are they coming in marked as deposits, or are they coming in correctly?

Is this issue affecting multiple accounts, or are you seeing it happen in just one account?

I look forward to your response!

nightowl1962

I have exactly the same problem.

I am connected in Windows 10 with Quicken Classic and Etrade is connected with Web Express and indeed the dividend transactions used to come up through early December as Div but now they are coming down as Deposit.

Also if you do a OSU the next day I noticed many of the same deposit transactions got downloaded again and it wont recognize that they are already there and match them even though same date and amount, so i end up having to delete a bunch of them again.

Takes a lot of manual repair to fix the register.

Since i reinvest dividends, all these deposits and Bought transactions would be a lot simpler if they came in as 1 transaction ReinDiv….

nightowl1962

2024-01-07_092809.jpg

2024-01-07_093053.jpg

some examples of old and new - the name is also different it seems or being truncated differently.

Knitgirl

Quicken Kristina

Every Re-invested Dividend transaction appeared as two transactions, a Deposit and a Reminder. The Reminder is shown as a transaction - see the attachment. There is no item in the Bills and Income Reminders section. The attachment reflects I changed the Deposit transaction for Ford to a Reinvested Dividend transaction. I also changed the Deposit transaction for Truist to a Dividend transaction (shown in the attachment).

This problem started in Jan 2023 with the eTrade account. I did not notice it until Jan 2024, as mentioned in my original post. The problem happened for multiple downloads. Every quarter in 2023, I had corrected the quarterly Ford dividend to a Reinvested Dividend, so the problem did reoccur after at least one Deposit transaction was changed to a Reinvested Dividend transaction. As of today, there are no new transactions to be downloaded after the date the problem was reported (1/6/2024).

Capture Reminder Transaction 12012023.JPG

I am not seeing this problem with other investment accounts, only the eTrade account.

Looking forward to your response.

Mary

Quicken Kristina

Thank you for your replies,

Due to the nature of this issue, it is recommended that you contact Quicken Support directly for further assistance as they can walk you through troubleshooting steps in real-time and escalate the situation as needed. The Quicken Support phone number can be found through this link here. Phone support is available from 5:00 am PT to 5:00 pm PT, Monday through Friday.

I apologize that I could not be of more assistance!

Knitgirl

ok - I had already used the "Report a Problem" feature through the application on Friday 1/5/2024 and sent various log files to Quicken. I will have to wait for more dividends to apply before contacting Quicken for a live discussion since they will likely need additional logs.

Knitgirl

Update: on 1/16/24, I called Quicken Support. Long story short, the agent William had me deactivate the existing online connection, then using the "Add Account" function, select Quicken Etrade as the Financial Institution, then select Advanced Options. Select Direct Connect as the method (not Web Connect). William said that using Web Connect was not appropriate for an investment account. After entering the account ID and password, the connection was made and I was able to link to my existing eTrade account within the software.

It should be noted that I will need new dividends to post before I can verify this has resolved the issue. Interest Income should post by 1/31/24 but the next dividend is not lately to post before March 1 2024.

Quicken Kristina

Thank you for the follow up,

Thank you for coming back to post the solution Support recommended! Hopefully, it will help others encountering the same issue.

Thank you!

sparky74

I've observed a similar problem. Since the MS conversion, Interest transactions and the proceeds from security sales are downloaded as Deposit. These transactions were handled properly by the legacy E*Trade system, but they're consistently wrong since the MS conversion. Dividend transactions are downloaded correctly.

I've spoken to my service rep at E*Trade, and she tells me that their technical people are aware of the problem and understand why it's occurring. But there's no scheduled date for a solution.

Quicken Kristina, are you aware of this issue? Is there any workaround from the Quicken side?

The need to manually edit each of these transactions is a real pain.

Knitgirl

@Quicken Kristina

Today (Feb 5 2024) I attempted to download transactions. Quicken told me I had the wrong password. I confirmed I did not by logging onto the eTrade website. I tried the Reset Account action. That did not work. So, I de-activated the online info thinking I would re-add it again. The "best option" for the Financial Institution is shown as Quicken eTrade. When I select that option, I receive an error: Your financial institution has rejected this transaction. For more information, contact your financial institution. OL-295=A

However, after continuing on, the application then proceeded to ask me to enter my user ID and password, when whether I had 2-factor auth set up. Once replying to that, the application did successfully download an interest transaction. Since there were no new dividend transactions, I cannot confirm if the original reported issue about dividends posting as deposits is resolved. Next dividends will post in March.

Mary