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Schwab downloaded transactions with wrong security

Jon2

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?

Capture.PNG

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Jon2

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

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

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

Jon2

q-lurker (or anyone else watching:)

Here is a good example of the problem. I have just done an One Step Update with my Schwab account. The attached "downloaded transactions" shows the first screen in Quicken, where I need to accept the transactions. All transactions are labeled LOOMIN STR INC A

Once all are accepted, a securities mismatch window appears, indicating that one or more of these transactions are not in fact LOOMIN. (See "Securities mismatch" attachment.)

After the mismatch window is closed, the Quicken register now shows double entries, all indicating LOOMIN transactions. (See "Quicken register" attachment)

Finally, I have attached the corresponding transaction list from Schwab. There are 2 transactions listed for each fund, with one "Reinvest Dividends" and one "Reinvest Shares".

So… there is clearly an issue here with how Quicken is interperting the downloaded transactions from Schwab. In the meantime, I have to go in on each Update and correct the transactions or the entire report becomes more inaccurate with each download!

Schwab corresponding transactions.JPG

Quicken register.JPG

Qucken securities mismatch.JPG

Quicken downloaded transactions.JPG

Jon2

One more thing, don't know if it matters. The LOOMIN assest has two listings in the Quicken security, one without a CUSIPID. I am assuming that I should delete the one with a missing CUSIPID..?

Duplicate security.JPG

q_lurker

One more thing, don't know if it matters. The LOOMIN assest has two listings in the Quicken security, one without a CUSIPID. I am assuming that I should delete the one with a missing CUSIPID..?

It does matter. You do NOT have two LOOMIN assets in your Quicken security List. You have one LOOMIN security with a CUSIP of 000000000 and a LOOMIS security with a CUSIP of 543487248C. Neither is a correct 9-character CUSIP. The correct CUSIP for the Loomis Sayles Strategic Income Fund is 543487248 without the trailing C. CUSIPs get into Quicken from the brokerage (Schwab in your case). I don't know why they are appending the 'C', but it probably is not consequential to your issue.

Yes, I believe you should edit any and all transactions that refer to the LOOMIN security correcting the security to be the correct one for each transaction. You should then delete the LOOMIN security in Quicken. That may clear your problem and let you properly match the three securities from the brokerage getting mis-identified to match correctly with securities that are in your Quicken security list.

Understand that Quicken only needs one ReinvDiv transaction to represent what Schwab shows as two - a Reinvest Dividend and a Reinvest Shares. Those two are one transaction in Quicken.

Jon2

Thanks for the post - I'll try backing up and deleting the securites as suggested. Might take me a few days as I have family visiting!

Jon2

q-lurker (or anyone else watching:)

Well, it took a while to delete all of the entries for LOOMIN in all of the accounts (including hidden accounts) before I could delete the security from the security list. I then needed to wait for another download to test how quicken would react once LOOMIN was removed. First verification came in this morning and it now shows all transactions as "Unidentified Security".

I couldn't find anything in the log files about these specific transactions. Any more ideas?

Jon

Unidentified Security.JPG

Mismatch capture.JPG