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Adjust cash balance

TVZ

I have a mutual fund that is listed as a brokerage account. It was converted from another company that merged, so it became a brokerage account although it is just a regular mutual fund. I cannot change that. Somehow it got the idea that it has a considerable cash balance, although really it's just a simple mutual fund with no cash balance. I want to eliminate the cash balance. Quicken help says there should be an "Update cash balance" choice under the account actions; however, I don' see one. Any idea why, or what I can do to eliminate this cash balance? I understand that I can't eliminate the cash balance field in my register; but can I at least zero it out? I am using Quicken Deluxe for Windows, the new release. Thank you.

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Quicken_Tyka

Hey TVZ,

To give you the best answer we need a little bit more information.

Are you using Windows or Mac?

What edition and version are you currently running?

-Quicken Tyka

TVZ

It's Quicken Deluxe for Windows R6.12, Tyka. Thnx for your interest.

unknown

In the account register click on the down arrow next to the gear icon. There should be an "update cash balance" item listed right below Reconcile.

TVZ

That was easy! Thanks Bob!

Don100

Reference to this question..Why are you having a cash balance? It is my understanding that mutural funds should not have a cash balance.If you do have cash balances when you are not supposed to,what has gone wrong?

Jim_Harman

Nothing has gone wrong. A brokerage account (not a "Single Mutual fund" account) can hold multiple securities, not just one mutual fund. Uninvested money in the account may be shown as a Cash balance. This could be the proceeds of a sale, dividends that have not been reinvested, money that has been transferred into the account but not invested yet, etc.

Sometimes the brokerage will "sweep" the cash into a money market fund, often called the settlement fund, and the cash will be shown there.