Wrong security listed

Question

I have an account with Schwab connected for updates. A while back I screwed up something so my cash balance was off. Today I managed to correct that problem so my cash balance agrees with what Schwab has online. But I still have one issue I can't solve.

I just reconciled my holdings with Schwab's and everything matches, both share totals and values. Except for one security. I have one holding that shows the wrong security. The Share amount matches but with another security. To be specific, I have a holding with the symbol IGOV but on Schwab's site, I have a different Security (IAGG). The share balance is the same, but the price is different, so the value of that security (and therefore my account) doesn't match.

I tried to correct this by editing the details of that security on my Holdings list, but it says I already have a security by that name, even though its not listed in Holdings.

How do I fix this so the value of my Schwab account is correct in Quicken?

q_lurker · Accepted Answer

Go to your Security List (Ctrl-y).  You should find a security there with the ticker IGOV and maybe one for IAGG.  (you can sort the list by ticker if that helps.)  You may need to click the Show Hidden option at the bottom.

The CUSIP ID for IGOV should be 464288117.  The CUSIP ID for IAGG should be 46435G672.  I suspect the one for IGOV is wrong (it is likely the IAGG CUSIP.)  If so, edit the security details for IGOV and uncheck the box "Matched with online security".

Return to the transaction list for the account.  Using the actions gear icon upper right, click the reconcile shares option.  You should be able to then match Schwab's IAGG with the IAGG in your file.

q_lurker · Accepted Answer

You cannot change the CUSIP.  Unchecking the “matched” box will allow the rematch later to change the CUSIP.

Scott Diamond · Accepted Answer

Ahh, Ok, that worked! Thank you, That's been bugging me for months.

One little thing more though. After reconciling the shares, I got two messages that there were mismatches. I ignored the one for the security I no longer hold. But I had Quicken create a placeholder transaction for the other. What do I do with them? Can I delete them? Won't that mess things up again?

q_lurker · Accepted Answer

Had you been correcting prior downloaded transactions to be the correct security?  The steps you have just taken should square away future transactions but do not alter prior transactions.

I would choose delete the IAGG placeholder and backfill in or correct as necessary any applicable transactions.

I don’t know what to think about the other blank-name security, but I dislike placeholders so I’d likely delete that one also, and keep trying to figure out what it is.