Brokerage Transaction hung up

I am using Quicken Premier 2019 Version R17.6 Build 27.1.17.6. My brokerage firm processed a transaction with the Activity label of "Reverse Sold" which apparently is a stranger to Quicken. The transaction is hung up and appears in the Online Center, Financial Institution, Transactions, XXX specific a/c, but will not post to that specific account in Quicken. All transactions downloaded in that account since that item are being handled properly. While I have manually removed the transaction (the erroneous buy) from the Quicken account, a red flag appears on the account listing indicating that I have one transaction to review but it is not included under the "Downloaded Transactions" tab or the "Placeholders Entries" tab. How can I delete that transaction?

Comments

  • UKRUKR SuperUser
    edited January 16

    If you haven't done
    so already, I'd say it's time to chat with Quicken Support or call them on the
    phone and request help. The programmers responsible for transaction downloading need to look into that problem.

    Quicken Support:

    • To contact Quicken Support,
      please use this link only:

       https://www.quicken.com/support#contact-support  and select Chat or Phone support. Phone
      support is only available during posted business hours.
    • If you are eligible for
      Premium Support (purchased separately or included as part of your
      subscription to Quicken 2018 Premier or above) call the number that can be
      found at the top of your My Account page at https://www.quicken.com/my-account  (US) or https://www.quicken.com/canada/my-account (Canada) next to
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      when you log in with your Quicken ID.
    • Other links or phone numbers
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  • Tom YoungTom Young SuperUser
    edited January 11
    Did you open a short position?  Close out a short position?  That "reverse buy" nomenclature suggests that to me.  There's no "reverse buy" action in Quicken so Quicken isn't going to accept that.  Look at your account online and see what the heck that transaction actually is.
  • Bill4433Bill4433 Member
    edited January 11
    Hi Tom, the broker generated transaction was their means of correcting an error they made and you're correct, Quicken doesn't know what to do with it.  I may have to contact Quicken support (as UKR suggests) or the broker since this is probably not your every day problem.  
  • Bill4433Bill4433 Member
    edited January 11
    UKR said:

    If you haven't done
    so already, I'd say it's time to chat with Quicken Support or call them on the
    phone and request help. The programmers responsible for transaction downloading need to look into that problem.

    Quicken Support:

    • To contact Quicken Support,
      please use this link only:

       https://www.quicken.com/support#contact-support  and select Chat or Phone support. Phone
      support is only available during posted business hours.
    • If you are eligible for
      Premium Support (purchased separately or included as part of your
      subscription to Quicken 2018 Premier or above) call the number that can be
      found at the top of your My Account page at https://www.quicken.com/my-account  (US) or https://www.quicken.com/canada/my-account (Canada) next to
      "Quicken Premium Support" 
      when you log in with your Quicken ID.
    • Other links or phone numbers
      found elsewhere on the Internet, even in some posts here in the Community,
      may not be from Quicken or may not be up-to-date. Use those at your own
      risk.
    • Unlike other so-called
      "Quicken support providers", the real Quicken Support is free
      for all currently supported versions.

    Hi UKR, thanks, that will be my next step. 
  • Tom YoungTom Young SuperUser
    edited January 11
    Bill4433 said:

    Hi Tom, the broker generated transaction was their means of correcting an error they made and you're correct, Quicken doesn't know what to do with it.  I may have to contact Quicken support (as UKR suggests) or the broker since this is probably not your every day problem.  

    What was the nature of the correction?  I suppose a "reverse buy" in the context of some broker error could also be exactly what it says.  That is, the broker bought something in your account that they shouldn't have and are correcting that mistake by "reversing" a "buy".  In that scenario a reverse buy is nothing more than a "Sell" with no gain or loss.  The stock leaves, the cash comes back.

    I don't see this as a "support" issue - they won't know what a "reverse buy" is either as that action doesn't exist.  But if you can explain what the original error way I'm sure that someone can come up with the proper entry for the correction.
  • Bill4433Bill4433 Member
    edited January 16
    UKR said:

    If you haven't done
    so already, I'd say it's time to chat with Quicken Support or call them on the
    phone and request help. The programmers responsible for transaction downloading need to look into that problem.

    Quicken Support:

    • To contact Quicken Support,
      please use this link only:

       https://www.quicken.com/support#contact-support  and select Chat or Phone support. Phone
      support is only available during posted business hours.
    • If you are eligible for
      Premium Support (purchased separately or included as part of your
      subscription to Quicken 2018 Premier or above) call the number that can be
      found at the top of your My Account page at https://www.quicken.com/my-account  (US) or https://www.quicken.com/canada/my-account (Canada) next to
      "Quicken Premium Support" 
      when you log in with your Quicken ID.
    • Other links or phone numbers
      found elsewhere on the Internet, even in some posts here in the Community,
      may not be from Quicken or may not be up-to-date. Use those at your own
      risk.
    • Unlike other so-called
      "Quicken support providers", the real Quicken Support is free
      for all currently supported versions.

    I did a live chat with quicken support (case number: 02399540) and sent them the following:
    "I asked this question on the Community and it was suggested that I contact customer support. I am using Quicken Premier 2019 Version R17.6 Build 27.1.17.6. My brokerage firm processed a transaction with the Activity label of "Reverse Sold" This was a simple correction of a sale error recorded the previous day by the broker but that label (Reverse Sold) apparently is a stranger to Quicken. The transaction is hung up and appears in the Online Center, Financial Institution, Transactions, XXX specific a/c, but will not post to that specific account in Quicken. 
    The description appearing as Transaction Details is as follows:

    Date 12/12/2018 4:00:00 PM
    Activity Reverse Sold
    Description KOMATSU NEW NEW SPNSDADR
    Quantity -16
    Price $22.7117
    Amount $363.38
    Commission $0.00
    Fees $0.01
    Memo This CANCELS transaction: 20181211TB191403150035907
    Settle Date 12/12/2018 4:00:00 PM
    Sub-Account Fund Cash Sub-Account
    Sub-Account Security Cash Sub-Account
    Transaction Details
    Page 1
    All transactions downloaded in that account since that item are being handled properly. While I have manually removed the transaction (the erroneous sale) from the Quicken account, a red flag appears on the account listing indicating that I have one transaction to review but it is not included under the "Downloaded Transactions" tab or the "Placeholders Entries" tab. How can I delete that transaction?"

    We went through a number of steps (copy file, verify file, etc.) all to no avail.  He finished by saying nothing could be done. 

    Even if I were to start from scratch (no way), the first time I down loaded the transactions, I would be back in the same situation when that transaction loaded.

    I agree with you that it is a programmers problem between Quicken and Merrill Lynch.  ML does not offer user support so it is up to Quicken.  I'm not sure if they will be able to fix my data but it will probably happen to others. Other than the "red flag" the only other effect I can find is I am unable to "deactivate" or "reset" the account because there is a transaction that is not cleared.

    Any thoughts?
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