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Q2014 Windows: Stock dividends . Showing them correctly in sweep account, where the dollars are add

unknown

Deluxe 2014 for windows...How do I show a dividend in my stock portfolio and show the monies generated in my Vanguard account with the dollars generated, 'ADDED TO" the total dollars available to trade? Manually done.

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mshiggins

I would use the Enter transactions dialog and select the Income transaction type. Then fill out the field for Dividends.

Bob_L

On the dividend transaction, show the cash proceeds going to the same account, assuming your sweep fund is in the same account. Then enter a Buy transaction for the same dollar amount of sweep fund shares, e.g. Federal money market shares.

unknown

I have 2 separate accounts. I will just add the dividends received to my sweep account. Vanguard will be able to provide me the detailed information when the taxes are due.

Jim_Harman

Two separate Vanguard accounts with different account numbers, or one account with a sweep fund and some other holding?

Will you ever be downloading (would require a newer version of Quicken) , or do you plan to always do this manually?

--Detailed answers will be different depending on your answers.

unknown

I was trying to get the older version of Quicken straight before upgrading to Quicken Home and Business 2017..Also, if it is feasible to update Quicken remotely, that would be the ideal. I have Windows 7...

Jim_Harman

OK, back to my questions. Do you have one Vanguard account in Quicken or 2?

And at Vanguard is it one account or two?

unknown

2 accounts in Quicken...and at vanguard 1 account...

Jim_Harman

Aha. Given that, and because you said you wanted to clean things up before upgrading, I would start by combining the accounts in Quicken. Do a backup first in case something goes awry. Then:

Go to one of the accounts and do a Transfer shares between accounts, select All Securities, and select the other account. This will remove everything from the first account and move it to the second, preserving the cost basis and performance info. Also transfer any cash in the old account to the new one.

Then as MSHiggins said above, simply record the dividend(s) and it will appear as cash in the new combined account.

Assuming what you have at Vanguard is one of their new Brokerage accounts, you may have to make some further adjustments to make things line up with their downloaded transactions. They automatically sweep any cash in the account into the "settlement fund" which is the Federal Money Market fund. If you are doing things manually, you can either leave the cash in the account or do a Buy of the Fed MM to move the cash where it actually goes. Once you start downloading, you will probably want to show the settlement cash in the Fed MM fund in order to make the share balances match.

Good luck!

NotACPA

@nj_marcy, by any chance is that separate sweep account actually set up in Q as a "Linked Checking Account"? If you do TOOLS, Account List, and then click on EDIT across from the account name it will show an option to "Show cash in a checking account".

This is a convenience (but also a fiction) that Q offers. That linked checking account doesn't actually exist. It's simply the cash portion of my Fidelity brokerage account that's been split out so that I can more readily manage it ... since it's my primary checking account. All cash transactions in my Fidelity brokerage account are automatically swept to the Linked account.

unknown

@nj_marcy, by any chance is that separate sweep account actually set up in Q as a "Linked Checking Account"? If you do TOOLS, Account List, and then click on EDIT across from the account name it will show an option to "Show cash in a checking account".

This is a convenience (but also a fiction) that Q offers. That linked checking account doesn't actually exist. It's simply the cash portion of my Fidelity brokerage account that's been split out so that I can more readily manage it ... since it's my primary checking account. All cash transactions in my Fidelity brokerage account are automatically swept to the Linked account.

Quick question pls....my individual stocks are under an Account called stocks...and the money market that i want to sweep the dividend money into is a 'separate account' called Vanguard cash only....will the above work, having 2 separate accounts?..tx so much!

Jim_Harman

Marcy,

It is possible to have two Quicken investing accounts for one Vanguard account, but if you want to download smoothly, everything (individual stocks, mutual funds, money market funds, and the settlement fund) that is in one account at Vanguard must be in a single corresponding account in Quicken.

One variation on this is to have a "linked checking account" in Quicken as NotACPA mentions above. This can be useful if you are using the money market fund to pay daily expenses, but my experience has been that it does not work very well with Vanguard brokerage downloads, because in the downloaded data they keep settlement account money in the Federal Money Market Fund rather then showing it as cash in the brokerage account.