Market Value Error

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Jbalint1
Jbalint1 Member ✭✭

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

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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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 1993
  • Jbalint1
    Jbalint1 Member ✭✭
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    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

  • Jbalint1
    Jbalint1 Member ✭✭
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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.

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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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 VP

  • Jbalint1
    Jbalint1 Member ✭✭
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    the cash amount is incorrect

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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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 VP

  • Jbalint1
    Jbalint1 Member ✭✭
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    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

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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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 VP

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    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 1993
  • Jbalint1
    Jbalint1 Member ✭✭
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    I don’t see anywhere I can change that

  • Jbalint1
    Jbalint1 Member ✭✭
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    transactions tab is grayed out

  • Jon
    Jon SuperUser, Mac Beta Beta
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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.

  • Jbalint1
    Jbalint1 Member ✭✭
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    there is no place to make an adjustment to deplete the cash

  • Jbalint1
    Jbalint1 Member ✭✭
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    There is no “action” column on my dashboard

  • Jbalint1
    Jbalint1 Member ✭✭
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    where is the sidebar?

  • Jbalint1
    Jbalint1 Member ✭✭
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    I am right clicking everywhere and nothing is happening

  • Jbalint1
    Jbalint1 Member ✭✭
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    I found it. I deleted the extra cash


    Thank you!

This discussion has been closed.