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Quicken Express Web Connect (EWC) Experience with E-Trade Bank Oilcan 06-09-2007
Posted by Oilcan on June 9, 2007, 5:19 pm
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 I though I would post this in case there might be others like me.

Since last August, when I upgraded to Q2007P, I have been interested in
setting up my E-Trade Bank for EWC as my checking account with them is my
primary checking account. I also have three accounts with E-Trade
Securities that are set-up using Direct Connect which I never had a problem
with.

I am running Vista Ultimate 32 bit and Release 5 of Q2007P. My laptop brand
new with Vista as OEM software from the manufacturer. Prior to this I was
running the most current version of Windows XP SP2 with Release 5 of Q2007P.

I have tried several times over the last 10 months to getting my E-Trade
Bank account set-up to no avail. In early May, I was able to get it set-up
to where it would build the cross-reference data between E-Trade and
Quicken. Although this step was successful, it would alway error out when I
attempted to download transactions. This occured on both my old machine and
new.

On my new laptop....I created a TEST database. With no accounts set-up, I
went through the wizard to set-up my E-Trade Bank checking account. It made
the connection and set-up the account just fine. It was now at the step
where it would do its initial download of transactions. I waited for two to
three minutes (really) and I got the familiar windows showing that the
transactions were being downloaded into my new account. Success - it
downloaded the last three months of transactions! Now to translate this
success to my real data file (OILCAN).

I went back to my OILCAN data file and initiated the set-up on my existing
Checking E-Trade Bank account (> Change Online Service in the Account Detail
window). Same results that I usually have - it built the cross-reference
and error'd out in the download.

My next step was to REMOVE all my linkages and cancel all downloads for my
E-Trade Bank and E-Trade Securities banking and investment accounts. After
I did this, I validated the data file (no validation errors), closed and
restarted the Quicken application. I then proceeded to set-up my existing
Checking E-Trade Bank account. Same results that I usually have - it built
the cross-reference and error'd out in the download.

I again REMOVED the linkages to E-Trade Bank, validated the data file (no
validation errors), closed and restarted the Quicken application. This time
I used the New Account set-up wizard (>File >New >New Quicken Account).
This was the same method I used to set-up the account in my TEST database.
It made the connection and set-up the account just fine (it always does this
step fine). It was now at the step where it would do its initial download
of transactions. In less then thirty seconds (verses two to three minutes)
I got the familiar windows showing that the transactions were being
downloaded into my new account. Success - it downloaded the last three
months of transactions!

Observation - the windows displayed by the wizard in this step were
different in the OILCAN dataset verses the TEST dataset even though I
followed the exact same steps.

At this point I now had to deal with two accounts within Quicken dataset for
the single E-Trade Bank account. I also use Quicken Bill Pay for this
account.

Here are the next steps I took:

1) I used Quicken's move transaction feature (within the Transaction
Register window of the account you want to move transactions from (Checking
E-Trade Bank (Old)), highlight a transaction(s), right click and select move
then choose the account you wanted to move to (Checking E-Trade Bank (New)).
Quicken correctly moved the transactions, retained the reconciliation status
in the new checking account and moved all attachments associated with the
transactions. For this account, it was only thirteen months of data and it
included payments that had been paided and scheduled though Quicken Bill
Pay.

2) I removed the cross-reference for Quicken Bill Pay from Checking E-Trade
Bank (Old) and added it to Checking E-Trade Bank (New).

3) For the transactions downloaded into Checking E-Trade Bank (New) - I had
three months of duplicate transactions that I carefully deleted.

4) I then performed an Online Center update to Quicken Bill Pay to build a
cross-reference between Checking E-Trade Bank (New) and Quicken Bill Pay.
Quicken Bill Pay downloaded all of my Quicken Bill Payment transactions (I
have only been using it for three months) and I rematched the transactions
to the register. The linkage (shown by a lightening bolt) had been removed
in Step 1.

5) I then reconciled my Checking E-Trade Bank (New) account to the Online
Statement Balance (user choice) and there was only a couple of transaction
that I missed in my deleted duplicate transactions (Step 3). Otherwise no
problems here. The Checking E-Trade Bank (Old) now has no transactions and
a zero balance.

6) I proceeded through ALL my Quicken Accounts (Checking, Savings,
Investment, Credit Card) and RECONCILED the balances. This is because when
you move the transaction, the Cleared Status ("R" for reconciled) gets
removed. Believe me you will get tired of clicking Ok when you are warned
of this in the move transaction step (thirteen months of transactions for
me). Since I generally reconcile to the Online Statement Balance and use
the auto-reconcile function (both user choice) this went fairly quickly.

7) I reestablished the Direct Connect connection to my three E-Trade
Securities (Brokerage) accounts.

8) I have one remaining task to do. I attach my monthly Statements to my
Quicken account at the account level. I will need to make a decision to
keep them attached to the Checking E-Trade Bank (Old) and hide the account
or connect them to Checking E-Trade Bank (New) account. Since I only have
thirteen attachments to deal with I will like use the second option. It
should take less then five minutes to complete this.

9) I then reviewed all Scheduled and Memorized transactions and changed any
entry that referenced the Checking E-Trade Bank (Old) account.

10) I don't use Budgets, Cash Forecast nor do I have any "custom" reports
saved. If I did, I would review the criteria on this reports.

All of the above took about three hours. As of this email note, both of my
downloads for E-Trade Bank (via EWC) and E-Trade Securities (via Direct
Connect) continue to work fine in One-Step Update.

Hopefully this information can help someone.

Oilcan


Posted by Mike Blake-Knox on June 11, 2007, 12:54 pm
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> 6) I proceeded through ALL my Quicken Accounts (Checking, Savings, 
> Investment, Credit Card) and RECONCILED the balances.  This is because when 
> you move the transaction, the Cleared Status ("R" for reconciled) gets 
> removed.  Believe me you will get tired of clicking Ok when you are warned 
> of this in the move transaction step (thirteen months of transactions for 
> me).

I had the need to move transactions from a credit card account to a checking
account recently. I created the new account then selected all the transactions
in the credit card account's register (select the first transaction then
shift-click the last one). I cut the transactions and then pasted them into
the checking account. (I received many errors about deleting reconcilled
transfers. I think the transfers in question were each of my credit card
payments made over a 13 year period.)

The paste proceeded normally and the reconciliation status seemed to be
preserved properly.

Mike


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