Missing Schwab Transaction
I was told the Schwab missing transaction problem would be resolved by the end of the first quarter 2024.
Is the problem fixed? If not fixed, why not Quicken? In fact why is there NO progress reported?
I see Quicken has suggested deactivating and reactivating the account. Can anyone confirm success with missing transactions returning following this suggestion?
Are there other suggestions be sides terminating quicken for Schwab brokerage accounts?
Comments
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I called Schwab's tech support people and they knew nothing about this issue or any potential fix on the horizon.
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I called Quicken tech support the other day and was told to delete my Schwab accounts and re-add them to Quicken. DO NOT DO THIS. When I re-added my accounts at Schwab, only the last 180 days of transactions were added. For positions older than this, "Placeholder Transactions" were added. For one of my accounts (and there are 10 of them) I spent several hours working through these placeholders to add missing transactions or cost basis information. For some reason, not all of these changes "took" in Quicken. In other words, I entered the missing data and pressed done, but the placehold somehow returned with the missing number of shares. Total waste of time.
Before I started this, I did a complete Validate on my Quicken data file, including rebuilding cost basis information. Very frustrating. If this is not fixed soon, I will have to stop using Quicken, and I've been a customer for more than 30 years.
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Thank you for the warning not to delete the whole account. This past week I deactivated and reactivated connecting to the existing data in my register.
This missing transaction problem between Quicken and Schwab is very frustrating. neither Schwab nor Quicken seems to take responsibility. Quicken shed the problem was elevated to its developers to work with Schwab developers. In early March, they told me it was a commitment to have the problem fixed by the end of the first quarter. Yet as of a few days ago, there was not an update to the primary topic since February 17 and that update had no substance to it.
These companies are playing with consumers financial information. The brokerage firm is certainly regulated. If the brokerage firm’s portal was was missing the data regulators would be all over it. I don’t think Quicken as an aggregator financial data is regulated. But this example makes me believe that the legislature should enact regulations Show consumers are not put into the difficult spot we are in. Collectively, the companies (brokerage firms, banks, intermediaries, and the final portal software (Quicken, Quickbooks, others) should be held accountable by some branch of the government. For example, the consumer financial protection bureau.0 -
Is there any particular type of transaction that tends to go missing? Or is it just random? Based on my recent experience they tend to be automatic reinvestments of dividend income, but this has been the extent of my recent buys. What's strange is my wife has the same securities in her account at Schwab and don't recall her ever missing a reinvestment transaction. So why one account and not another, when both have the exact same activity? They are both IRA accounts.
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Bill et al, I think I identified specific buys and sells of money market. I had gone over line by line with a Quicken Supervisor.
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It's possible that I may have contributed to the problem. Until now, my Q data file resided in a Microsoft One Drive folder. These folders are automatically backed up to the cloud in the background. If the Q program is writing data to the file when it is being updated there may be unpredictable results, including file corruption or data deletion. Best practice (though a pain in the butt) is to manually copy your Q data file to a local, not cloud linked, directory and do your updates while your data file is there. After you have logged out of Q, you can then manually move your file back into a cloud-linked One Drive folder. This seems to be helping and is logical.
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You apparently found out the hard way and you are not alone. Quicken data files cannot be used from One Drive. It must be kept on the C Drive. It happened to me several years ago. However, in stead of manually moving files around, make sure you are routinely backing up your Quicken data file in a Backup folder also on the C Drive. In addition, you should have a system file backup protocol, where an external drive is almost always plugged into your computer and set up to copy what resides on your machine….automatically!
It may have complicated the Schwab missing data problem but it is a different issue.
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