Updates to unresolved Schwab issues? (Investment account value incorrect - cash related?)

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Devyn
Devyn Member ✭✭✭
edited April 2022 in Errors and Troubleshooting (Mac)
Now that taxes are sent out, I figured I would revisit some unresolved Schwab issues, which recent updates have neither addressed nor resolved. 

In short, ever since the Schwab changes in November, one of our two Schwab investment accounts has a wildly inaccurate balance, while the other seems to be just fine. The inaccuracy appears to be mostly(?) related to the cash balance, which shows as drastically higher than it should be (I wish!). Not counting cash, the account total is basically correct.

Interestingly, when I was last able to try some troubleshooting, I created a fresh data file, and added just the Schwab accounts. Those balances, including cash, were correct. I would really rather not have to start anew, as we have lots of historic data in Quicken at this point.

The most active discussion I knew of was closed at the end of January, with no note from @qu@"Quicken Sarah", who had been very responsive up until then. Sarah even asked us to submit bug reports tagged with "CTP-3088" to track the issue. (I know that's categorized as a Windows discussion, but seemed to mix both Windows and Mac, being related to the interface with Schwab.)

I'm mostly a novice at this, so it's hard to deduce what's going on. There's no single or group of transactions that seems to be the cause, though I could easily be missing it.

Frankly, I just want my Schwab balances to be correct and for Quicken to give me the overall picture of our investments. Unfortunately, that hasn't been the case for several months.

Does anyone have any updates? I searched the forum and there are lots of short discussions and posts without a reply, but nothing seeming to suggest progress or a resolution. If anyone can point me to one, I'd appreciate it.

Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited March 2022
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    (Edit:  Deleted comments that are applicable to QW but not applicable to QM.)
    Hi @Devyn .  First, the reason why you have not seen any communications from Quicken Sarah since January is that she left Quicken about that time.  She was a great asset to Quicken and this Community and is missed.  Just thought you might want to know.
    I suspect that the account cash balance issue could be related to this.  There have been some reports that the conversion process did not go as smoothly as it should have and that, perhaps, the cash value at Schwab was downloaded and in addition to that the SWVXX/SWGXX shares value in Quicken was also added to the cash balance causing a duplication of cash in the Cash Balance.  If this is the cause of the issue you are seeing then perhaps the simplest solution might be to enter a manual cash balance adjustment transaction. 
    If you have not already done so, you can click on the blue font Cash Balance below and to the right of the register...it will show whether or not the Cash Balance in Quicken and what has been reported by Schwab.
    Also, it would be a good idea to go to Account Register > upper right Gear icon > Reconcile Shares.  This will let you know whether the shares in Quicken and what has been reported by Schwab are in agreement or not.
    Ideally the best solution would be to track down the conversion transaction(s) that caused the cash imbalance but since I do not have any Schwab accounts I do not know how that conversion in Quicken was accomplished so I do not know what to look for.  Perhaps someone who more insight into the details of how this conversion was managed within Quicken will be able to provide more details on this.

    (Quicken Classic Premier Subscription: R55.15 on Windows 11)

  • Devyn
    Devyn Member ✭✭✭
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    Hi @Boatnmaniac,

    Thanks for the reply!

    Quicken Sarah was definitely helpful! Sorry to see her go.

    Thanks for your links and tips. I'll try to check these out in the next day or two. 

    At quick glance, I don't see a 'blue font Cash Balance below and to the right of the register', though I'll poke around in more detail later. Here's the closest thing I I see in the Dashboard:



    To clarify, I'm running Quicken for Mac Deluxe, Version 6.6.2 (Build 606.43218.100). I usually include this in my posts, but forgot this time.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    Devyn said:
    Hi @Boatnmaniac,

    Thanks for the reply!

    Quicken Sarah was definitely helpful! Sorry to see her go.

    Thanks for your links and tips. I'll try to check these out in the next day or two. 

    At quick glance, I don't see a 'blue font Cash Balance below and to the right of the register', though I'll poke around in more detail later. Here's the closest thing I I see in the Dashboard:



    To clarify, I'm running Quicken for Mac Deluxe, Version 6.6.2 (Build 606.43218.100). I usually include this in my posts, but forgot this time.
    Oops!  I missed that you are using QM, not QW, so you will not see that Cash Balance.  I am not familiar with QM's features or functionality regarding that or the Reconcile Shares feature.  I'm guessing that QM has some variation of these two things somewhere.  Perhaps someone who knows more about QM will pipe in here.  Sorry about that.  But the rest of my earlier reply should still be applicable.

    (Quicken Classic Premier Subscription: R55.15 on Windows 11)

  • Devyn
    Devyn Member ✭✭✭
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    @Boatnmaniac, thanks again for pointing me towards that link. I'm not sure yet if that's exactly the issue, but it did send me searching in more detail. I managed to find several other Quicken Community discussions that I never found before.

    (Side note: it seems that, when you search the forums, changing from "best match" to "newest" gives different results! It appears to me to be a 'sort' function, but may actually be a 'filter')

    In any case, the issue may be related to miscategorized and/or duplicated transactions, specifically "Journaled Funds" (that I believe are effectively transfers between our two Schwab accounts). To me, it appears that for about 1-1/2 years before the November transition, whenever there is a Journaled Fund transfer, there is a matching "Add Shares" transaction that otherwise has no data in any field except a positive value. Even though there are similar transactions going back years before and since, the only ones with this "Add Shares" amount are in strict time period -- which I believe is the previous timeframe for downloaded transactions (before they updated it to 90 days).

    Oh, and the total amount is approximately the amount I am currently off.

    These comments may be a little premature, as I still need to poke around a little and try to confirm. But if anyone reading this can chime in on Journaled Funds - or any other transaction that may have been duplicated or miscategorized - that would be amazing.

    I'll report back if I manage to figure it out, or strike on a thread that has my answer. There's a lot more reading I have to do in these newly discovered threads...

    (Worst case, I may just attempt an adjustment, as @Boatnmaniac suggested. That might just get me current with the least hassle... )


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