How to record mutual funds sell and purchase

unknown

I searched the site and did not find a post that matches my issue.  I'm trying to resolve a basic transaction.  I have a 401k account setup.  Inside the account are mutual funds.  I exchanged shares from an existing fund in the account to other funds.  On the fidelity site, the transaction details displays "Exchanges" as the transaction type. 

When I download the transactions into quicken, the balance in the account is screwed up.
There is one transaction from the fund that was sold.  Quicken displays the Action column value of Sold.  There are separate transactions for each fund that was purchased.  The Action column  is listed as Bought. 

But the cash balance value and the Total Market Value value is not correct.    I've tried several different changes to get the register right, but nothing is working. Tried changing the Action columns to Soldx, BoughtX.

My first question is when the action column is Sold, where are cash amounts reflected?  Is it in the account where the transaction occurred?  Is it in a cash account.  The reason I ask is if in the Action type is changed to SoldX, then a transfer account option is required.  I can choose the 401 account or any other account.  When I record the related purchase of different fund, how to record the From account. 

My next question is how to record the exchanges so the quicken register reflects the correct cash and Total Marke Value columns.

Sherlock

My first question is when the action column is Sold, where are cash amounts reflected?  

In the 401(k) investment account.

My next question is how to record the exchanges so the quicken register reflects the correct cash and Total Marke Value columns.

I suggest using Enter Transactions and selecting Sell - Shares Sold and Buy - Shares Bought.  These correspond to Sold and Bought actions, respectively.

The gotcha with Fidelity Investments is that sometimes it takes a few days for the downloaded balances to be correct.  I recommend never accepting the placeholder transactions Quicken may offer.