Schwab downloaded transactions with wrong security

Jon2
Jon2 Quicken Windows Subscription Member ✭✭✭
edited June 2 in Investing (Windows)

I am using Quicken Business and Personal (R62.16 - 27.1.62.16) and have 8 Schwab accounts in my investing section. All 8 accounts are accessed using the same username and password.

Internally generated transactions, such as ReinvDiv or Div, are all being categorized as a single Security. In this case, all are being called LOOMIN STR INC A regardless of the correct security name or which of the 8 accounts receives the transaction.

Each time I use One Step Update, I have to manually edit the security names using the Quicken mismatch window to correct the balance.

Has anyone else experienced this, and is there a solution to correct the downloaded transactions?

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Comments

  • Jon2
    Jon2 Quicken Windows Subscription Member ✭✭✭

    Clarification: I am not sure if there are issues with Div transactions. When I compare my Schwab transactions history to the corresponding Quicken downloads, Schwab appears to have two lines (Reinvest Dividend [asset] and Reinvest Shares [debit]). In Quicken, there is but one transaction (ReinvDiv [asset]) with a "default" security name (in this case, LOOMIN STR INC A.)

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    In your Quicken security list, Ctrl-Y, presumably you have a LOOMIN STR INC A security. What ticker and CUSIP does it have?

    Similarly, what ticker and CUSIP show for the JPM INV CONSV GRW A security in Quicken?

    Do you also have a Loomis Sayles Strategic Income Fund Class A (Ticker NEFZX; CUSIP = 543487284)? The name may be shortened in some fashion.

    Typically, your type of problem is that a security reported by the brokerage has been matched to the wrong security in Quicken thereby Quicken has the wrong CUSIP applied to the its version of the security.

    It appears the JPM Investor Conservative Growth Fund Class A shares should have a ticker of OICAX and a CUSIP of 4812C2403.

    To rectify that mismatch, you need to:

    • edit the security details of the fund,
    • uncheck the 'Matched with online security' checkbox, and then
    • reinitiate a download (One step update) from the brokerage (other methods also exist for this step).
    • With the new download, you should be able to approve a proper match which will put in the proper CUSIP for that security.

    Hope this helps

  • Jon2
    Jon2 Quicken Windows Subscription Member ✭✭✭

    Sorry for the delay - I missed your response! Usually I get an email notice when something is posted but not in this case.

    This is not an issue with a single fund being mislabeled. If the update includes multiple ReinvDiv transactions - from multiple funds - they all are labeled as a single fund (in this case LOOMIN STR INC A, which is one of the many funds that I hold.)

    Sometimes the downloaded ReinvDiv transaction is, in fact, LOOMIN and no editing or correction is required in Quicken. But most of the time the fund is mismatched and I have to go in and manually change the Security name.

    This issue appeared recently when I moved may accounts over to Schwab. It's almost like Schwab uses a single money fund to accept the dividend, then reinvests it, creating two transactions. The download with quicken appears to only get one transaction, and sees it always as the same money fund (and not the individual reinvested security.)

    I will wait to see when the next bolus of dividends drop and capture a screen shot from both Quicken and Schwab.

    Jon

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