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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FYI, I noticed another possible data anomaly in the past couple months: When downloading from Schwab, Quicken reports a quantity discrepancy on two of my corporate bond holdings. These are reporting fractional shares, where none exist. For example, download is reporting 100.06 when actual is 100 even. The fraction has increased a few basis points over the past 3 months. The account in question transitioned from TD Ameritrade during the recent conversion. I don't intend to report this, just yet, as it can simply be ignored within Quicken.
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@smutschler. I have noticed an occasional issue like that. Suggest we take it to a different thread so as not to distract from the wrong date issue here.
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Agreed.
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Quicken user since 1995. Currently have a MacBook pro with M1 chip running Sonoma 14.6.1. I use ParalleIls Desktop 19 for Mac Version 19.4 and run Windows 11. I use Quicken Classic Premier version R53.32.
I am an active day trader using Schwab and often make 15-20 trades daily. For many months now I have fought the problem of downloaded Schwab transaction being 1 day off. Every morning when I download transaction, I will spend the next 30 minutes correcting all of the wrong dates. Will this ever be corrected? With over 25 years of transactions, this really is a big waste of my time. Come on Schwab and Quicken, get your act together and get this irritating problem fixed!!!
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Many long-term Quicken users have been waiting for this fix to be made. It was first reported months ago. May we please have an update of the status and the expected date the problem will be fixed.
Thank you.
Our teams have discovered that users downloading from Charles Schwab will receive transactions with incorrect dates. The dates are one day earlier than the actual transaction date. We are currently working with Charles Schwab on correcting this issue.This has been escalated internally, though we do not have an ETA at this time.To be notified of updates as they become available, please click the bookmark ribbon located in the upper right. If you do not see the bookmark ribbon, please make sure that you are signed into the Quicken Community.Thank you!
(Ticket # 11228611/CTP-10643)2 -
Today I was in a customer service chat with Schwab and, as an aside, described the date issue and asked whether is was a known issue. Rep could find no mention of it. I have posted a couple notices via the Message Center and was recently told to contact the "Tech Services" group directly. Here are the phone numbers I have, in case anyone else has some time to invest (explaining the problem).
Schwab Client Technical Services team: 800-435-4000 Monday - Friday: 8:00 am – 9:00 pm ET. Request to speak to a tech support representative.
The other number is 800-565-8261. I have not tried this yet.
@Quicken Jasmine Can you give us an update please?
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Jasmin says in reply to my post on September 21st that it has been escalated internally. Not sure if she means only internally within Quicken or also within Schwab. It's really a pain to have to make so many manual adjustments because of my trades all being off by one day. I'd like to think that after all of this time Quicken had at least reached out to Schwab for their assistance if they haven't yet figured out what is wrong.
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Its hard to believe that this problem been going on since July 24. Especially since it impacts many many Quicken users. Seems like a low priority item to Quicken else it would have been resolved long ago… SAD!
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@GaryB1234 - just to be accurate, the problem first occurred on the weekend of June 15/16 and has been solid since then - check your transactions. So it happened as an outcome of an update performed that weekend by either Quicken, Schwab, Intuit or the integrator. It will only be resolved by each of them checking their update histories and talking to each other.
It was only first reported here in the community on July 24th.2 -
@Stu FYI, I opened a separate discussion re: the bond quantity mismatch issue as you suggested.
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Just spoke with a person in technical support at Schwab. They are aware of the problem with dates being off by 1 day but believe the fix lies with Quicken Software support. Because of that, she was unable to try and pinpoint a time when this issue would be resolved.
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Re: "believe the fix lies with Quicken Software support". Posts herein by @Bill44 and others who are working with Schwab's developer API (separate from Quicken) have documented that data downloaded from Schwab (via the API) has the 1 day error in certain date fields, including the Trade Date field. Quicken could indeed have been pulling dates from a different field (or data source) in the past and may have since broken that function. BUT, if Schwab is creating their data posts to Quicken's intermediary using the same data that they use in their API (and if that API was changed a couple months ago), then they could indeed by the culprit. When and if I reach a sufficiently knowledgeable Schwab techie, I will ask them to explain the API data anomaly.
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@Daniel-san: [Removed - Disruptive] Intuit does not own, run or operate Quicken and has not done so for many years. They may, however, be in the mix of companies touching the data coming from Schwab before Quicken picks it up.
Nevertheless, your frustration is valid. It will take humility on the part of all participants - Schwab, intermediates and Quicken - to stop pointing the fingers at each other and accept that communications protocol problems can originate at any point in the chain.0 -
I've not updated my 7 Schwab accounts since July 19th anticipating this problem would be resolved. I'd like to add my disappointment /frustration with having to wait so long for a fix. Quicken Moderator(s) - PLEASE provide some information!
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IS there a current status on this? Is Quicken even working on it?
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It's still broken as of this morning. Today, this continuing problem enters its fourth calendar month with no resolution. (July, August, September, October)
As an aside, the language they used when the original trouble ticket was finally opened on Aug 14 has bothered me since it is factually incorrect: "Our teams have discovered that users downloading from Charles Schwab…"
The only "teams" who discovered this issue are the Quicken users posting on this forum. We have yet to see any meaningful progress on the issue from any other entity.
I am politely requesting that Quicken please provide this community of its customers an update.
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@Quicken Anja, @Quicken Jasmine - I echo @K123 (and many others) in asking that we get an update from someone about this issue. In particular, has root cause been identified so that you know what team/company is responsible for fixing this? If it's a Quicken issue, can you provide an ETA? If the problem is with Intuit or Schwab, is Quicken management putting any pressure on those companies to get this fixed?
I have to assume that Schwab is one of the higher volume integrations you all support, so a flaw like this (which can have actual financial consequences for users because of incorrectly-dated transactions) should be high priority. Despite that, there's been no update here or in the Known Issues ticket since Aug 29.
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At the very minimum, can we at least be assured that Quicken engineers are giving this the highest priority and are debugging the issue along with Schwab and Intuit engineers? What is the priority relative to other developments or issues in progress? This is of vital important for the trust between Quicken and its customers. Is CEO Eric Dunn on this personally? We know these posts are being read as some of them have been deleted owing to inappropriate language of the frustration we Schwab and Quicken customers are all experiencing.
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