Morgan Stanley - Offsetting "Unidentified Security" Transactions
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Brad95X
Member ✭✭
I just received unusual OSU downloads for several of my Morgan Stanley accounts tonight.
Each account shows 2 transactions that offset each other. Even though the net effect is $0, I am wondering why these transactions showed up and if I should just delete them or accept them?
Example of the 2 offsetting transactions:
2/21/23... Bought... Unidentified Security... 5,883.51 shares @ $1..... 5,883.51
2/21/23... Sold... Unidentified Security... 5,883.51 shares @ $1..... -5,883.51
The Morgan Stanley website shows my current cash balance is that same number... $5,883.51
When I called MS they said the offsetting transactions do not appear on my MS accounts.
Another issue... my current MS balance in Quicken shows $5,805.42... a difference of $78.09. Any suggestions on how to reconcile that balance?
I've never had this particular problem with my MS accts before.
Each account shows 2 transactions that offset each other. Even though the net effect is $0, I am wondering why these transactions showed up and if I should just delete them or accept them?
Example of the 2 offsetting transactions:
2/21/23... Bought... Unidentified Security... 5,883.51 shares @ $1..... 5,883.51
2/21/23... Sold... Unidentified Security... 5,883.51 shares @ $1..... -5,883.51
The Morgan Stanley website shows my current cash balance is that same number... $5,883.51
When I called MS they said the offsetting transactions do not appear on my MS accounts.
Another issue... my current MS balance in Quicken shows $5,805.42... a difference of $78.09. Any suggestions on how to reconcile that balance?
I've never had this particular problem with my MS accts before.
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Comments
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First use Tools>Online Center to compare holdings in the Quicken register to those reported by MS. That will determine whether the missing transaction(s) is a cash or buy/sell transaction.
Then compare the activity report at MS for the account with the Quicken register looking for missing transaction(s).
Also, check the opening balance in the Quicken account register; there have been reports of Quicken changing that value prompting many users to record the opening balance amount in the memo field of the opening balance transaction.
It wouldn't hurt to also run a file validation.1 -
@markus1957 thank you very much for that helpful information. I had already resolved my issue before I noticed your comment. 3 MS accounts' cash balance was off by a small amount so I manually searched the transactions and compared to the MS online stmts, the problem was that no transactions downloaded from MS to Quicken on 9/30/22. So now that I have the cash balances reconciled I just deleted the offsetting transactions and I will do a file validation now per your advice. I have never tried that online center tool but did look it over after seeing your comment. Hopefully that tool can save me time and aggravation in the future rather than the manual searching method. Your comment/advice is very much appreciated!!0
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