Scottrade FRIP accounting discrepancy
| HelpRegister |
Scottrade FRIP accounting discrepancy I use Bivio to automatically download transactions from my club's Scottrade account. Since we enrolled in Scottrade's FRIP (Flexible Reinvestment Program) our cash balance has not matched Scottrade's. The reason is that Scottrade records a debit from our cash balance when it moves dividends into our FRIP. These debits, however, are not noted by Bivio. Do you know of any way to get these two accounts back into synch? Thanks. Doesn't it then move the funds out of your cash account when it reinvests them. The net effect would be that the dividend spends a short time parked before being invested and the only discrepancy in cash balance should be temporary. Mike Jones Wall$treet Wannabees Bloomington, MN From: Morton Milder <mmilder@gmail.com> To: club_cafe@bivio.com Sent: Monday, March 10, 2014 1:00 PM Subject: [club_cafe] Scottrade FRIP accounting discrepancy I use Bivio to automatically download transactions from my club's Scottrade account. Since we enrolled in Scottrade's FRIP (Flexible Reinvestment Program) our cash balance has not matched Scottrade's. The reason is that Scottrade records a debit from our cash balance when it moves dividends into our FRIP. These debits, however, are not noted by Bivio. Do you know of any way to get these two accounts back into synch? Thanks. Thanks, Mike. I think you're correct. My only quibble is that the balances never agree completely. The discrepancies are small but constant as long as there is a balance in my FRIP account. I have Scottrade as a personal broker and use FRIP. All Scottrade is doing is moving you money from one account to another so either delete the transaction when it goes into FRIP and have one account in Bivio for Scottrade or add another account in Bivio named "FRIP". Modify the transaction manually when it transfers in and out of your FRIP account. You will need to add both accounts together to get your cash balance. John From: Morton Milder <mmilder@gmail.com> To: club_cafe@bivio.com Sent: Monday, March 10, 2014 11:00 AM Subject: [club_cafe] Scottrade FRIP accounting discrepancy I use Bivio to automatically download transactions from my club's Scottrade account. Since we enrolled in Scottrade's FRIP (Flexible Reinvestment Program) our cash balance has not matched Scottrade's. The reason is that Scottrade records a debit from our cash balance when it moves dividends into our FRIP. These debits, however, are not noted by Bivio. Do you know of any way to get these two accounts back into synch? Thanks. |
|
||||||