TIAA downloading extra transactions
For TIAA's Stable Value (a money fund), TIAA is downloading an "Add Shares" transaction for 0 shares and $.00 each day. Other activity (like buy and sell) appear to be correctly recorded.
Since this a lack of activity on a given day, I can just delete the extra transaction, but it really shouldn't be there in the first place. TIAA is, of course, pointing me to Quicken.
Thoughts?
Comments
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Hello @Alan Fields,
We appreciate you bringing this to our attention!
Could you let us know when this issue first began? Has it been occurring since the account was initially set up in Quicken, or is this a recent change in behavior when updating the account?
Additionally, upon reviewing your account internally, it appears that you are still using version 7.10.1. To start troubleshooting, we recommend updating your Quicken program to the latest version. You can do this by navigating to Quicken > Check for Updates.
Let us know if the update resolves the issue or if you need further assistance! Thank you.
-Quicken Anja
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Thank you! The behavior began on 1/2/25, the day the specific security account was established. An Add shares transaction was downloaded for the correct initial quantity and value, then the zero share/zero dollar transactions started to show up each business day.
Please note that I am away from my computer until after the MLK holiday, but I do take on all available updates and should be up to snuff.0 -
For another of its stable value retirement funds, TIAA Traditional, TIAA reinvests dividends daily and downloads one zero share Added transaction each time you update. They also update the downloaded share count to reflect the reinvested dividends at $1.00 per share. I think this is the same as what you describe, and it has worked this way since at least 2017.
The way I deal with this in QWin is to not include TIAA in One Step Updates. At the end of each month I click on the gear at the top right of the TIAA account and select Update Transactions. This downloads one zero-share Added transaction for TIAA Traditional, which I accept. I then click the gear again and select Reconcile Shares. This displays the difference between the shares in Quicken and those downloaded from TIAA. I do not accept the Placeholder that is offered.
Then I edit the Added transaction to make it a Reinvest Dividends for the missing shares at $1.00 per share.
It would certainly be nice if TIAA just downloaded the reinvested dividends once per month. Someone would need to work with TIAA to get them to make this change.
I assume a similar approach would work for QMac. See this discussion for more info
QWin Premier subscription1 -
Aha! Methinks you're on to something.
To clarify, like every money fund I've ever dealt with, interest/dividends are accumulated every business day and paid out/reinvested monthly (generally on the last day of the month). For each business day, TIAA is shipping a zero share/zero dollar ADD SHARES transaction along with the updated balance to reflect that day's accumulation. (My Quicken portfolio matches TIAA's website precisely). I've already had a withdrawal, so the corresponding SELL transaction showed up correctly, as expected. The remaining question is if/how they represent the month end reinvestment, but, with the daily balance updates being downloaded, that transaction is already covered in the bookkeeping (and being that I've only held this fund since January 2, 2025, I still await the first occurrence with bated breath).
The only thing still unresolved is what to do with those zero share transactions. Since the register items they carry are all zeroes (both share quantity and cash amount), I'm betting I can just delete them and the accounts will be just fine (Quicken does add up the transactions to calculate balance information, and these are zeroes being added in).
Would it be better for TIAA to deliver a monthly reinvestment transaction vs. the daily updates? That would be a conversation (and argument) that would go on forever. :-) Both techniques are accurate (the dailies are actually more precise on any given day), but they will match up at month end. In short, either one works. So long as TIAA is consistent, I can deal with either.
Thank you again!
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If you want, you can delete all the zero share Adds except for the last one reach month. Edit the last one to make it a Reinvest to make your share count in Quicken maybe the actual share count.
QWin Premier subscription0 -
Sounds right. Just have to see if that last transaction carries a share quantity and/or value change to be included in the portfolio account. Not sure if the problem is solved, but I feel a lot better about it.
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