Date on transactions from UBS are way off

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Nalgas
Nalgas Member ✭✭✭

Good morning

In my UBS account website, the activity listing shows 2 foreign tax transactions on May 3rd, but Quicken downloaded them showing April 17th as the date.

Why might that be happening? I've seen it on other transactions as well. Is there a settlement date or some other difference happening behind the scenes?

Thank you

EDIT - my wife works at UBS (which is why I have to have the account there), and I asked her to dig a little on those 2 transactions that were accompanied by dividends paid. In the explanation of the dividend, the date of record for one of them shows as April 17th, and the other stock shows the date of record as April 23rd. So, did Quicken grab that date from somewhere and used it to report the transaction of the foreign tax in my register?? If so, why isn't the other one April 23rd?

Strange.

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    Which method (Direct Connect, Express Web Connect+, or Web Connect) are you using to download from UBS?

    The various methods record that which they downloaded into differing files … but examining the file will tell you what was downloaded.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Nalgas
    Nalgas Member ✭✭✭
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    thank you Nota

    The account is using Direct Connect, according to the account details screen. How do I dig deeper with this?

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    OK, for Direct Connect you can look at HELP, Contact Support, Log Files, OFX Log. It's a text file which I'd suggest you save to your desktop to explore. The most recent transactions will be at the bottom.

    BUT, I'll tell you that for Direct Connect, the Financial Institution has sole responsibility for the content of the download … so it's UBS that's sending those dates.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Nalgas
    Nalgas Member ✭✭✭
    edited May 29
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    I downloaded the Old log of that ofx file, and wow does it look cryptic. Thanks to Notepad's FIND function, I tried to search for the amount of the transaction, the date, the stock name, and I haven't come across anything that tells me "on 4/17, the transaction for Airbus stock foreign tax in the amount of $x.xx" was downloaded - for example.

    I'll keep digging, but my spoon is small…

    EDIT - I looked at the current log, and I think that I found the transaction:

    SY=FTS1</STMTTRN><SUBACCTFUND>CASH</INVBANKTRAN><INVBANKTRAN><STMTTRN><TRNTYPE>DEBIT<DTPOSTED>20240503120000.000[-4:EDT]<DTUSER>20240417120000.000[-4:EDT]<TRNAMT>-2.7900<FITID>B20240503 FL 9XXXX 00000001<MEMO>AIRBUS SE UNSPONSORED ADR

    So, Quicken is grabbing the date from DTUSER instead DTPOSTED, at least in this case. The other stock shows something similar with DTPOSTED as 20240503 and DTUSER as 20240423.

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    That DTUSER would be used makes sense to me. Just as when you write a check, say today, but it doesn't post until next week it's the date the check was written that matters … not when it clears the bank.

    That's even true for, say Charitable Contributions, that you make via check on 12/31/xx.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
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    Similarly, for a regular banking transaction, the date posted is what Quicken would grab. It would be less likely that the bank would have a user-date. Thus I would expect Quicken to always go with the DTPOSTED date.

    You might examine some other transactions to see if they have both date fields, if there are any other transactions with different date fields.

    I’m not currently in position to check any of my direct connect downloads.

  • Nalgas
    Nalgas Member ✭✭✭
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    Yes indeed. But, using your example, regardless of the date that I write on the check, the bank reports it when it is cashed or deposited, not written. And that makes sense.

    Qlurks

    I will look at other transactions, but I confirmed that quicken grabbed the usrdate of 4/17 instead of the transaction date of 5/3.

  • Nalgas
    Nalgas Member ✭✭✭
    edited May 30
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    an update

    Other transactions have both DTUSER and DTPOSTED dates that match. The only 2, in that log, that have different dates are those 2 transactions for foreign taxes.

    EDIT - isn't this community monitored by Quicken staff?

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    @Nalgas But it's the date that you write that check that's recorded in Q, and what matters to the IRS as in my example.

    And this forum is Moderated by Q employees, but what do you want re; "monitored"?

    And since DTUSER and DTPOSTED are the same for other txn … you can't determine WHICH is being used.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP