Schwab - wrong transaction dates
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To Stu's point that the transaction dates are correctly transmitted by Schwab in other formats, I use Gainskeeper to keep track of realized gains across multiple brokerage accounts. To get my Schwab transactions into Gainskeeper, I export transaction history in a CSV file and then import that file into GK. All transactions, including up to today's, are imported into GK with the correct date. This seems to point to the problem being with how Quicken handles the data after it leaves Schwab.
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"Schwab does not simply post transactions overnight, or update Quicken downloads overnight. "
As I understand the situation, when a financial institution uses EWC+ to download transactions into Quicken, the financial institution isn't the entity "posting" information for Quicken. The availability of information for downloading into Quicken depends on the aggregator's schedule as it's the aggregator (Intuit) that collects the information, stores it on its servers, and sends it down to Quicken when you ask for the information.
When banking and credit card information was all that was being downloaded using EWC/EWC+ it does seem to me - based on postings in here - that by and large that polling was done sometime during the night. With more and more brokers and investment funds going to EWC+ it does look like the aggregator is doing more frequent polling, but it's certainly not the "near real time" afforded to us when Direct Connect was the downloading method.
I am more than a little bit astonished that Quicken (Intuit) has taken this long to correct this error.
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Quicken issued a software update (Release R58.14) on 9/5 that appears to address maintaining the financial institution’s transaction date. Will this resolved the problem?
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Unfortunately, there's no mention of a fix for this problem in the release notes for R58.14
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…unless this is it: "Added a preference in the "Downloaded Transactions" settings to allow users to retain the financial institution's posted date instead of the manually entered date when matching transactions."
If so, it looks like a workaround rather than a fix
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@BillCO - The latest revision has no connection to the Schwab incorrect transaction date problem. The revision addresses a situation where you have manually entered a transaction and then perform an automatic update. If there are any matches, you have the option to keep the date on the manual entry or accept the downloaded transaction date from your broker. That is the last thing you would want to due in the current situation with a download from Schwab, since the downloaded date is incorrect.
@Tom Young - To correct a misapprehension that’s been mentioned in this thread previously, EWC+ downloads from a Schwab brokerage account can be performed at any time during the day for that same day’s transactions. At the end of the trading day, you can immediately download all of that day’s transactions. Of course, given the current issue, whether you download transactions on the same date as they were effected or on any subsequent date, they will all be dated one day prior to the date the transaction was actually effected at Schwab. If there is an intermediary in this process, it does not seem to be acting as an “aggregator” in the normal sense of the word.
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@Stu Looks like this workaround is still flawed with the latest update (R58.14) I do NOT have the box checked to use downloaded dates, so it should keep the dates I entered manually, not downloaded ones.
Today I bought several ETFs in my Schwab account. I manually entered the transactions during the day. At the end of the day (maybe 6pm Central time) I did my daily download (OSU). All of the transactions were successfully downloaded, but had the incorrect date (1 day prior, so yesterday). They were all shown as "near match" with the only difference being the date. I decided to try one by one to accept and it did NOT keep the date I had put, but overrode with the downloaded date (so the override is failing). I then decided to do "accept all" for the remainder and it asked if I wanted to save changes (unsure what changes) and Quicken CRASHED!! I did fill out the error report that it prompted me to send. Then I had to go back and correct / change every date again.
It's bad enough that the downloads are wrong, but now even the overrides aren't working (to keep my date, not downloaded). How hard can it be to find and fix a problem that just solved. They MUST have code that works correctly from previous builds to compare to. Is this just not that important to Quicken?
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Schwab transaction dates still download 1 day wrong. I manually edit the day on each row, save, then arrow up to edit the next row. It takes up to 10 seconds for that to process. It is horribly cumbersome now in the third month.
No other techniques can fix dates. Editing the download list is not possible for dates. if you try to edit on accepting you get unforeseeable wierdess.
QUICKEN. This is bad. I'm sure it's an easy fix if it will be catalog as one to address.
Whoever is moderating needs to stress this list value.
JPB
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Quicken, can we please get a fresh update or acknowledgement that someone is actually working on this? Your previous announcements were obviously more than a little premature. Have you merely punted it to Schwab? What can we do to increase everyone's sense of urgency?
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