Let me rewrite my question... Have any of you ever had to deal with an accounting error by your prop firm? How have you had it fixed? I'm going to call my prop firm tomorrow to get it fixed. I did not discover the error until a few hours ago. I'm with WTS so I will speak directly about their web portal/online reporting. My Trade History confirms my claim. I only traded 2800 shares that day so it does not take an accounting wizard to go back and confirm the mistake. The error as it stands is costing me $187. Sure it is not a large amount of money but the very idea that they could be inaccurate bugs me. If any of you out there could share your stories or advice in dealing with accounting mistakes at a prop firm I would appreciate it. I'm going to do a better job of keeping daily transaction records as well as confirming they are correct. How long do prop firms take on average to update your daily Net P&L records or just records in general?? WTS always seems to be lagging by a few days..when you call tech support all they say is "the sheets are updating".
It also happened me, the issue is they never send accurate reports. You have to go by the information provided in the prop. reports website. By the way, the info from the prop. reports doesn't include their commissions, only SEC, ECN, clearance fees, software fees, etc, etc. (which I never understood what some of them are anyway). Then you have to calculate the real net profit based in the commission schedule they offered you, assuming you get 100% payout from the net. Otherwise you still have to deduct another extra % after your "net". For example, my payout is 80% from the net after fees and commissions. So far, they have never sent me a timely accounting report with all the charges. Besides all of the above, they have never explained to me in detail what are all the fees from the prop. report.