How do I set a money market fund as my brokerage "cash" account?

John Burgess
John Burgess Member ✭✭
edited October 2018 in Investing (Mac)

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  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited October 2018
  • Unknown
    Unknown Member
    edited September 2018
  • John Burgess
    John Burgess Member ✭✭
    edited September 2018
  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited September 2018

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Unknown
    Unknown Member
    edited September 2018
  • tommystox
    tommystox Quicken Windows 2017 Member ✭✭
    I agree about leaving the "dollars" in the "cash security" and that is okay with one exception.  When I do Quicken "Reports" of the brokerage account, that cash balance appears twice.  (This is a Quicken bug, but a subject for another day).  Depending on which report, the report is false because my CORE money market (I use FZFXX, but that isn't affecting anything negatively) balance is double its actual value.  For me, the "Report" issue is validated monthly by the Account Statement (typically:  HOLDINGS/Core Account on page 3).  This method isn't perfect, but I think it is as good as it will be (near term at least).  However, if there are UNsettled trades at month-end, things get a tad rougher.  On the website, you then have to look at  BALANCES tab, select your account, and then expand all "Balances" view.  Next, find the TOTAL ACCOUNT VALUE (expand it), then under that section there should be an entry Credit (either Margin or Cash) which displays the amount of the UNsettled transactions awaiting transfer to the "cash" balance (i.e., Core Money Market).  This is the way I am able to validate the Brokerage Core (i.e., cash/money market) amount.  I've been with Fidelity doing for nearly 3 years (100+ trades per year), and the Core balance is correct to the penny (the hard part is knowing how to read the Fidelity statements and web tabs).  Good luck, I hope this helps someone!
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