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How to change to "single mutual fund"

TVZ
TVZ Member ✭✭
edited September 2018 in Investing (Windows)

I have a single mutual fund account. However, for some reason  Quicken thinks it is a brokerage account. I
can't find any way to change it. That option does not show up in the
"Edit" screen under the account list. For some reason it shows a cash
balance, which I don't want. How can I fix this?

Comments

  • Quicken Harold
    Quicken Harold Alumni ✭✭✭✭
    edited April 2018
    Hello TVZ, appreciate your question.

    Which version of Quicken are you using? Is it for PC or for Mac?

    Please let us know so that we can best help you.

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • TVZ
    TVZ Member ✭✭
    edited March 2018

    Hello TVZ, appreciate your question.

    Which version of Quicken are you using? Is it for PC or for Mac?

    Please let us know so that we can best help you.

    Respectfully,
    ~ Quicken Harold.

    Thanks Quicken Harold. I just upgraded to the new Deluxe Quicken for Windows.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 2018

    From what I've read in Q Help, you can't change an existing Brokerage account to a "Single Mutual Fund" account if it carries a cash balance or has more than one security recorded in it.

    I wouldn't worry about it. Just make sure all transactions are properly recorded to put/take cash from the cash balance and that the account reconciles to the brokerage statement.

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018
    To eliminate the cash balance, you would need to change every cash related transaction (Buys, Sells, Div, etc.) to the transfer type (BuyX, SellX, DivX, etc.) by supplying a transfer account where the cash should have come from or gone to.  Once that is done, the cash balance column would be $0 throughout the account.  You would then have the option to edit the account details to make it a SMF account (assuming no different securities involved in the account). 

    Personally, I consider the SMF account structure a bane that is too restrictive and limiting.  I would leave the account in the 'brokerage' state.  

    ----------------------

    Definition of "bane":  a cause of great distress or annoyance.
    "the bane of the decorator is the long, narrow hall"
    synonyms: scourge, plague, curse, blight, pest, nuisance, headache, nightmare, trial, hardship, cross to bear, burden, thorn in one's flesh/side, bitter pill, affliction, trouble, misery, woe, tribulation, misfortune, pain

    Yep.  that is what I meant.  The bane for this Quicken user is the single mutual fund account.  
  • TVZ
    TVZ Member ✭✭
    edited March 2018
    Ok, thanks Folks. I'll go through my entries and try to fix the mistakes.
This discussion has been closed.