Market Value Error
On my Schwab account, it is showing the market value almost double of what it should be. It is stating my cash as the same as my holdingsm thereby doubling the market value
Answers
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@Jbalint1 Did this just happen suddenly? Did you move from Windows to Mac? Did you move from a different brokerage to Schwab? Does your Portfolio show any money market fund holdings (such as SWVXX), which Schwab switched a few years ago to reporting as cash rather than as a security? When you look at your transactions, screen, does each "buy" transaction decrease the cash balance? More information will be useful in trying to offer you suggestions or advice.
Quicken Mac Subscription • Quicken user since 19930 -
I have been using Quicken Mac for several years. I just opened the Schwab account and made 1 stock purchase. And it says my market value is double of what it should be
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The values are correct on my Schwab account but when I linked it to Quicken, the total market value is incorrect on Quicken. There are no previous transactions or accounts.
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@Jbalint1 So which figure, that's used to calculate account balance, is incorrect? The number of shares/units in the account? The quote of those units? Or, are there securities shown at Schwab that don't show in Q?
OR, is it the Cash amount (as discussed by @jacobs ) that's incorrect?
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
the cash amount is incorrect
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OK, so how did the securities get into the account? Did you BUY them, which would use cash, or was the "Add Securities" action utilized, which doesn't use cash?
If "Add Securities", is the Cash Basis of those securities correct? Because while that can be set via the ADD, it's usually done via BUY.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
I didn’t use add or buy. I purchased the shares on my Schwab account and then linked that account to my Quicken account. I did not do anything on Quicken
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So how (what action) brought that holding into Q? In your investment account, what shows in the ACTION column?
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
It sounds like when you set up your Schwab account to download to Quicken, it used Add Shares to instantly make your share balance match what Schwab reported. And that didn't use up the cash you used in real life to purchase the securities. So depending on what history came in from Schwab, you can either change those Add Shares transactions to Buy transactions, which will deplete the cash, or you can make an adjustment to get rid of the excess cash.
Quicken Mac Subscription • Quicken user since 19930 -
I don’t see anywhere I can change that
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transactions tab is grayed out
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In that case you have Simple Investment Tracking turned on for that account. Right click on the account in the sidebar & select Account Settings. On the Details tab, change the Investment Tracking Method from Simple to Detailed. That will give you access to the transactions register.
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there is no place to make an adjustment to deplete the cash
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There is no “action” column on my dashboard
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where is the sidebar?
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I am right clicking everywhere and nothing is happening
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I found it. I deleted the extra cash
Thank you!0
