Downloaded investment transactions end up in cash?

dantdavis's Avatar

dantdavis

08 Feb, 2020 12:16 AM

I'm direct connecting to Schwab, and get many downloads, but I can handle the quantity.

The issue is that most items appear as Action: XFR and Category: [Cash Account], i.e. I get a transfer of just about everything to/from my Cash account (which shouldn't have any involvement here)

Most of these transactions are dividends and interest.like monthly interest or maturing cds,

Any thoughts on how not to have to fix this all manually?

  1. 1 Posted by dantdavis on 08 Feb, 2020 12:38 AM

    dantdavis's Avatar

    I know how to fix manually - in one sense it is simple - just change every Action:XFR to Action:DIV (or whatever).

    Unfortunately, I'm pretty sure you can't BATCH CHANGE an Action.

    I wish Schwab wouldn't download over two years of transactions on the initial run... ;)

    I'm not the first to do this, I'm sure, so was wondering if anyone had a better solution?

  2. 2 Posted by Leo on 11 Feb, 2020 12:18 AM

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    I am curious too on how to fix (or at least fix for the future) these transactions.

    Something similar happens with accounts from TIAA-CREF: Dividends, fees, all sorts of things show up simply as "buy" or "sell." I assumed that there was a batch edit for an "Action" but I guess there is not.

    Any workaround would be good.

  3. 3 Posted by dwg on 11 Feb, 2020 02:44 AM

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    I'm a fellow user.

    Batch change will not work with actions. Batch Change works on data where there is just a simple value in the field and this can be changed. The action field is unique in that depending on what action is chosen various fields can be enabled or disabled, some fields can become mandatory. Any action that just changes the value of the action field cannot account for the other fields that that may then need to have data in them or where the change removes data. If it did work it would most likely have to take you through each record so you could add, amend or delete information from the record.

    It never ceases to amaze the quality of the information provided by financial institutions, some banks have even managed to get QIF files wrong. A dividend should not show as a buy. If it is a dividend reinvestment it could either be done as a Dividend then a buy or as a reinvest. If an institution is not handling transactions properly in the downloaded data there is little that Moneydance can do.

    With OFX files I do not think there is a great deal you could even do with downloaded ones, they are not simple. Even with QIF files I would think in many cases there would be missing fields i.e. changing a Buy to a DivReinvest immediately means you need a category field, which would not be there in the data stream you have.

    Hopefully you both get some replies from other users that are with these institutions. I have seen references from users to both institutions in the past.

  4. 4 Posted by dantdavis on 11 Feb, 2020 03:04 AM

    dantdavis's Avatar

    Yep - it's amazing the garbage even large companies (Schwab) send.

    Changing two years of downloaded actions by hand was a pain. But done.

    Learning? Watch new downloads carefully, and change them one by one - but at least it is now one by one, not one hundred by one hundred. [And as you say - changing action XFR to DIV fixes other fields serendipitously for me]

  5. 5 Posted by dwg on 11 Feb, 2020 03:37 AM

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    Chase got QIF files so wrong that no matter how many transactions were in a file only one transaction is ever loaded.

    My own fund manager only provides useless CSV files, looks somewhat like a statement body but totally useless. If you want to import them into a financial program, you would have to write a program to rebuild the data into something usable.

  6. 6 Posted by Leo on 11 Feb, 2020 03:56 AM

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    Here I thought I was missing something. This is meant to keep track of a retirement account. The only thing I found that could work, but I don't look forward to trying:
    - I got a license for Bantivity, I don't really like it as much as I like MD, BUT it does let you change the action type as a batch operation.
    - I tried it with a small set of recent transactions: import from TIAA-CREF into Banktivity, then export the account to MD. HOWEVER, I am not entirely sure how it'd work with a complete set since mine goes back years, not all of which I can download again :(
    I guess I can try that this weekend and see how it goes.
    I'll keep you all posted.

    UPDATE:
    Kind of works. It allows you to batch the transactions as you want BUT there is the limitation of exporting the QIF files from MD. So it is possible to edit them if you download them directly from the bank. But if you have years of transactions, it's not worth it because you can't change the ones older than the years your bank lets you download. At that point, it might easier to close the account for the current year, start anew and see how it goes.

  7. System closed this discussion on 12 May, 2020 04:00 AM.

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