Can I break Fid.Gov.Cash Reserves out of my Broker Invest account and put it in the Banking Categor

Unknown

 Can I break the Fidelity Gov.Cash Reserves account [FDRXX] out of my Brokerage Investment account and put it in the Banking Category?  Using Quicken 2018 for Windows: Unable to use Fidelity Government Cash Reserves [my core account in Fidelity Brokerage Account] as a linked checking account.   NO CASH balance is maintained in the Brokerage Investment Account containing FDRXX so checking the YES to 'Show cash in a checking account' is meaningless. Checks and credit card debits are taken from the FDRXX core account just like cash.  

Tom Young

Since you have provided a ticker symbol for the Fidelity Government Cash Reserves that tells me that what you have there is a mutual fund. Accordingly you can't pull that fund out of the Investment Account and make it a checking Account.

Jim_Harman

In Quicken, you could ignore the fact that you have Fidelity Govt Cash and set up the account for a linked checking account. To get started, you would manually enter a Sell in Quicken for the balance of your Fidelity Govt Cash. 

Back up your data file first in case the result is not to your liking.

If you do this, you will have to not accept the Buys and Sells for Fidelity Govt Cash that Fidelity downloads, and change ReinvDivs to Divs when it pays interest. Also at the end of each download session, Quicken may complain that the downloaded balance of FDRXX does not match the balance in Quicken.

Unknown

Didn't Fidelity require you to change from FDRXX to SPAXX due to a federal requirement.  SPAXX can automatically be set up as a checking account.  I have it, I did it, No problem.

Unknown

Jim Harman said:

In Quicken, you could ignore the fact that you have Fidelity Govt Cash and set up the account for a linked checking account. To get started, you would manually enter a Sell in Quicken for the balance of your Fidelity Govt Cash. 

Back up your data file first in case the result is not to your liking.

If you do this, you will have to not accept the Buys and Sells for Fidelity Govt Cash that Fidelity downloads, and change ReinvDivs to Divs when it pays interest. Also at the end of each download session, Quicken may complain that the downloaded balance of FDRXX does not match the balance in Quicken.

Thanks; I came to that 'solution' on my own last night after making a double backup and changing the name on the new file.  It did put the transactions [checks, auto debits, dividends, other cash-like] into the newly created Banking Cash account.  I will let it run a few weeks/months to see what else is required.  The 'cash' balance is still zero in that account.  I would prefer to have the Banking Cash account show the FDRXX running balance instead of having to check it in the Investment account.  I realize that what I requested in my leading question is impossible, but I still appreciate your answers.

Unknown

Kayo said:

Didn't Fidelity require you to change from FDRXX to SPAXX due to a federal requirement.  SPAXX can automatically be set up as a checking account.  I have it, I did it, No problem.

Nope; I may have to look into it, but I still have FDRXX in both my and my wife's accounts.

Unknown

Kayo said:

Didn't Fidelity require you to change from FDRXX to SPAXX due to a federal requirement.  SPAXX can automatically be set up as a checking account.  I have it, I did it, No problem.

The reason Fidelity gave is that SPAXX is required to invest in more secure assets.  Seemed like a good idea to me, so I didn't fight it. 

Jim_Harman

Jim Harman said:

In Quicken, you could ignore the fact that you have Fidelity Govt Cash and set up the account for a linked checking account. To get started, you would manually enter a Sell in Quicken for the balance of your Fidelity Govt Cash. 

Back up your data file first in case the result is not to your liking.

If you do this, you will have to not accept the Buys and Sells for Fidelity Govt Cash that Fidelity downloads, and change ReinvDivs to Divs when it pays interest. Also at the end of each download session, Quicken may complain that the downloaded balance of FDRXX does not match the balance in Quicken.

If you tell Quicken to sell all of your FDRXX and stop accepting buys and sells on that fund, the running balance will be in the linked account.

Unknown

Kayo said:

Didn't Fidelity require you to change from FDRXX to SPAXX due to a federal requirement.  SPAXX can automatically be set up as a checking account.  I have it, I did it, No problem.

I apologize. I need to pay more attention to my wife's Fidelity account.  Looking back at it in Quicken, I see that Fidelity 'exchanged' the core account into SPAXX back on Nov. 20, 2017.  I don't remember any notification from Fidelity, but may have missed it.  There is some residual in FDRXX, but SPAXX is now the core and does show up in the Banking category of Quicken [Windows 2018].  However, her account is mainly dormant in that we don't use it for checking and bill payments -- we use my Fidelity core account [still FDRXX] for that purpose -- hence my original post.

It is strange and inconsistent for Quicken [and/or Fidelity] to treat FDRXX and SPAXX differently: FDRXX  [Fidelity Government Cash Reserves] and FSAXX [Fidelity Government Money Market Fund] are both CASH MONEY MARKET MUTUAL FUNDs. 

Thank you for your comments.

Unknown

Jim Harman said:

In Quicken, you could ignore the fact that you have Fidelity Govt Cash and set up the account for a linked checking account. To get started, you would manually enter a Sell in Quicken for the balance of your Fidelity Govt Cash. 

Back up your data file first in case the result is not to your liking.

If you do this, you will have to not accept the Buys and Sells for Fidelity Govt Cash that Fidelity downloads, and change ReinvDivs to Divs when it pays interest. Also at the end of each download session, Quicken may complain that the downloaded balance of FDRXX does not match the balance in Quicken.

Thanks, but I like Kayo's comments and after looking into the options may exchange my FDRXX for SPAXX.  Sounds like the easiest solution.

Unknown

Kayo said:

Didn't Fidelity require you to change from FDRXX to SPAXX due to a federal requirement.  SPAXX can automatically be set up as a checking account.  I have it, I did it, No problem.

FSAXX - just a typo?  As I said above SPAXX is required to invest in less risky assets than FDRXX.  As I recall the federal requirement was for MM funds used as an equivalent for cash to switch to SPAXX.  A phone call or email to Fidelity should clear up this problem.