Why is LMA/LOC account coming through as a brokerage asset account?

Kash

I have a "Loan Managment Account" at Merryll Lynch. It's a line of credit that uses my stocks as collateral.

But it's coming into Quicken as a "brokerage account" so it shows up under my assets. I want it to show up under by debts. (the balance is 0)

Quicken Jasmine

Hello @Kash,

When did you first notice this issue? Do you receive any error codes or messages? What is your connection method with Voya? You can see the connection method by navigating to Tools > Account List.

Thanks!

Kash

Hi @Quicken Jasmine,

I first noticed it right after connecting to my bank for the first time. I thought I would be able to change the account type to something like a credit line, but the only options available for account type are asset accounts. See:

I did not experience any error codes or messages.

Not sure what you mean by Voya. I just added an account the normal way in the desktop client by clicking the '+' button and then entered my user name and password for logging into Merryll Lynch. It brought in all my ML accounts, so it's generally working. It's just this LMA account that's the wrong type.

I don't see "Tools" menu anywhere. I'm on Mac:

QuickUserPSP

@Kash - I think the confusion stems from that you posted your question in a Quicken Windows category. I have requested a moderator move your question to a Quicken Mac category.

Quicken Jasmine

Hello @Kash,

My apologies for the confusion.

Have you attempted to contact Merril Lynch? This indicates an issue with the way they are sending data through their servers to Quicken. It is recommended to request to speak to a tier 2 agent or supervisor as they are generally more familiar with third-party applications such as Quicken.

Let me know how it goes!

Kash

Ok thank you I will try that.