Schwab investment accounts suddenly have incorrect balance

dorevabelfiore

I run Quicken Classic for Mac version 8.2. Yesterday (5/19/25) I noticed that my IRA balance from Schwab reported in Quicken had mysteriously doubled. The number of shares and stocks is correct but the balance is off. I tried updating transactions and it did not help. I then went to reconcile my other Schwab account and could not, because it is mistaking the total account value for the cash balance (?). No other errors are reported. Is this a new known issue for Schwab?

Quicken Jasmine

Hello @dorevabelfiore,

Thanks for reaching out.

To help pinpoint what's going on, can you confirm whether the doubled balance appears in the Portfolio Value view, the Holdings panel, or both? When you inspect the register, do you see any duplicate entries—particularly dividend reinvestments, deposits, or buy transactions around the time the issue began? Have there been any recent changes to the way the Schwab account is connected — for example, a prompt to reauthorize or switch to a new connection method like EWC+? Also, are sweep funds or money market positions listed in the account, and if so, do they appear under both cash and securities in the summary? Are both Schwab accounts showing this issue, or is it limited to one? Lastly, under Accounts > Settings > Downloads, is the account currently set to download using “Charles Schwab & Co., Inc.” or another variation?

Let me know — I’ll review next steps based on what you find.

dorevabelfiore

Thank you Quicken Jasmine. I was able to figure out the issue. It had to do with 2 transactions related to a stock merger that never downloaded from Schwab. Once I entered them in it balanced.

Quicken Jasmine

https://community.quicken.com/discussion/comment/20492218#Comment_20492218

Fantastic, I am happy to hear that it was an easy fix!

Thanks for coming back to update us!