Divedend Reinvestment - ETFs

[gcm223]

I use the Advisor Version - I am having trouble with the share amounts after dividend reinvestment occurs on ETFs. I am off shares each time they pay. It is usually the 4th decimal place that throws it off. What do I have set up incorrectly?

[Mark]

Hi gcm223,

How are you getting your transactions into Fund Manager?

[gcm223]

I take transactions daily from Schwab Institutional

[Mark]

Hi gcm223,

Unfortunately, Schwab's transaction files only report share quantity significant digits to 3 places, but their position files report to 4. When dealing with fractional shares of things like mutual funds they round transactions to 3 places and this doesn't work out well. You can open up a .BLD (Schwab Position) file with a text editor, and you'll see that the lines look like this:

"FTTIX ","10011234","M","L"," 100.0000"

where 100.0000 is the share balance in this example.

and in a transaction file (CS*.TRN) the lines look like this:

12345678,012910,sel,cs,wat , 1143.03,cash , 20.000, 19.95, 58.1500, ,schwab

where 20.000 are the shares in this example. This is fine for stocks, but causes problems with mutual funds, as you can own fractional shares. Internally, Schwab does remember your shares to 4 places, but they only report to 3 in these transaction files. So, you need to manually modify your mutual fund transactions to be correct to 4 significant digits.

Schwab has recently introduced a new file format for positions (CRS*.RPS) and transactions (CRS*.TRN), which now contain share digits to 5 places in both files. We do plan to support importing these newer formatted files in the near future. If you would be interested in helping beta test importing these new file formats, please let me know.

[gcm223]

I will beta test any files you need.

I am not having problems with mutual funds. Those process fine. It is just ETFs that are the problem.

[Mark]

Hi gcm223,

The problem would happen in any investment where you can own a share quantity with a resolution below 3 significant digits.

Thanks for the offer to beta test. When you download data from Schwab Data Delivery, are you receiving both your CS*.TRN and CRS*.TRN files? You will need these newer CRS*.TRN files in order to import using the new format.

[gcm223]

Mark

I am getting the CS*.trn files but I do not see any CRS*.trn files

[Mark]

Hi gcm223,

Okay. Please contact Schwab and ask them to enable these for your master account. They are called their "B/D Core Data Files". You should be getting several files, all with the base part of the filename as:

CRSccyymmdd

(where ccyymmdd is the date) and varying file extensions, of .TRN, .SEC, and .RPS. You should be able to continue receiving both their legacy files, as well as these newer formatted files.

[gcm223]

Schwab added those files and I recievedthem this morning. I guess I will have to wait for another dividend to post on the ETFs. I will let you know.

[Mark]

Hi gcm223,

Very good. If you'd like, you can start using the new file formats now. It isn't necessary to wait for a dividend, except to test this fractional share problem. Just let me know when you'd like me to send you the new version that imports these CRS* files.

[gcm223]

Send the update whenever you can.

Thanks

[Mark]

Hi gcm223,

Will do. We're still doing some testing/fine tuning on this new format, but will send you a pre-release to use when it is ready.

[Mark]

Hi gcm223,

I have just now emailed you a pre-release of 12.8 with this new import capability. Instructions for use are in the email I sent.

[gcm223]

Mark;

I updated the software and I am gettng error reports when the transactions come in. How do I let you know thes error messages? I tried to screen print them, but my system would not let me.

I don't think the errors are effecting my accounts as nothing is out of balance when I run the Bulk Reconcilitation.


Thanks

[Mark]

Hi gcm223,


To Send A Screen Shot:

1) Press the "Print Screen" key on your keyboard.
2) Open up the Paint program. It is under "Start / All Programs / Accessories".
3) Use "Edit / Paste" inside Paint.
4) Do a File / Save As... to save this screen shot to a JPEG file.
5) Attach this saved image to an email back to us, or attach it to a post.

You can also just type the text of the error message if that is easier.