[moneydance] Can MD work with a Schwab account?

[Gordon Alley]

The problem you mentioned with the commission being taken out twice
sounds related to the problem I noticed (and posted about to this
list) a day or two ago. I manually entered two security Buy
transactions in the investment register, and when I check the
Portfolio window or the Security Details, the Cost Basis for the
security in ONE of these buys appears to have been calculated by
adding 2 times the commission to the cost (share price times number of
shares). The Cost Basis for the security in the other transaction
appears to be calculated correctly (cost plus commission).

-Gordon

On 10/5/07, Michael Casteel <mac at casteel.org> wrote:
> On 10/4/07, Larry Alkoff <labradley at mindspring.com> wrote:
> > I've recently setup a Schwab account for a portfolio of mostly stocks
> > but have not yet tried to put it into MD.
> >
> > When I go to the Schwab web page it states that I can download
> > information in .CSV format.
> >
> > Does anyone know how well a Schwab account works with Moneydance?
>
> I find that MD connects directly to Schwab and downloads the
> transactions fine. Search the archive of this list for details on how
> to set up the direct connect parameters.
>
> Some transactions may not come in as you might wish; for example,
> Schwab reports the result of a stock split as a 'shares in'
> transaction. You need to replace this with a stock split if you want
> the price history graph to look reasonable.
>
> The most aggravating problem in the current version of MD is that
> every downloaded Dividend transaction updates the price history for
> that security on that date to $10,000/share. This can significantly
> distort your portfolio value. You can correct the effect by using the
> Stock Quote Synchronizer on the next trading day, to download the
> actual share values. However, the bogus high values still make the
> stock price history graph pretty much worthless (typically a flat line
> near zero with sharp peaks at the date of every dividend) unless you
> go in manually and delete those $10,000/share price entries.
>
> Oh, and some Buy transactions in effect deduct the commission amount
> twice, calculating a per share price from the amount including
> commission, then tacking on the commission as well. At least I think
> this was with the latest version; I can't tell when reconciling a
> statement and finding this error (which I did in my September
> statements) which version of MD downloaded and miscalculated that
> transaction. I had to manually update the transactions with the
> correct per share price from the statement in order to reconcile.
>
> If you don't have any problematic Buy transactions, it can make it a
> real breeze to reconcile the statement if you're into doing that. It's
> practically automatic.
> --
> Mike Casteel                                        Seattle, WA


-- 
Gordon B. Alley
http://www.gordonalley.com