Quicken Doesn't Balance to Schwab Statement

Mark239
Mark239 Member ✭✭
edited January 13 in Investing (Windows)

I'm sure Schwab is correct but just wondering how do I enter a transaction in Quicken to balance the two? I have 4 accounts with Schwab, one ties out to the penny, two are showing more in Quicken then Schwab and one is show less in Quicken then Schwab. Instead of spending hours on trying to find the difference I just want to make an entry so all the accounts balance from this day forward. The other thing I noticed is when I download an EXCEL file from Schwab it shows all my transactions going back to 2021 but Quicken only goes back to 2023.

HELP.

Mark

Comments

  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod

    Hello @Mark239,

    I'm sorry to hear you're encountering an issue with your balances in Quicken not agreeing with what is showing at Schwab. Is it the cash balance, or the share balances that aren't agreeing?

    To add an adjustment to your account, go to the gear icon near the upper right in the account register, and select the appropriate option (for cash or share balance).

    For more information about adjusting balances, see these articles below:

    Regarding your other observation, the financial institution decides how much historical data to make available for automatic download into Quicken.

    I hope this helps!

    Quicken Kristina

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  • Mark239
    Mark239 Member ✭✭

    Thanks for the help but how do I know if I am off on the cash balance or the share balance?

    Please advise.

    Mark

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited February 6

    For every security, in every account, you need to compare what Schwab shows to what's in Q.

    NOTE, if you hold fractional shares in any security … Q uses standard 5/4 rounding to calculate the value of a position. So a value of $1.005 thru $1.009 will be displayed in Q as $1.01.

    Fidelity Investments (I don't know if Schwab does this also) truncates fractional pennies. So that previous example would be shown at Fidelity as $1.00.

    If this happens to several positions (I hold as many as 7 funds in some accounts), I could be off by $0.07.

    Don't sweat the petty stuff. (And don't pet the sweaty stuff 😆)

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP