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Linked cash and investment accounts where cash is in a money market fund

Unknown
Unknown Member
edited January 2019 in Investing (Windows)
I downloaded an investment account and established a linked cash account.  Unfortunately the cash in the investment account is in a federal money market account, so the linked cash account doesn't work.  Any way to make this work without re-doing all the money market transactions?  I am using Quicken Premier 2019.

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited December 2018
    Do you plan to use the linked cash account to pay day to day expenses? If not, it is probably better to disable it in Quicken. You can do that by clicking on the gear at the top right of the transaction list (register) of the investing account. Pick Edit account details and select No next to Show cash in a checking account. If there are a lot of transactions, it will take some time to move everything around. This usually goes smoothly, but back up your data file first just in case...

    If you want to keep the linked account and show the cash there, enter a manual transaction to sell all the shares in the money market fund. This will put the cash in the linked account. Going forward, do not accept any downloaded transactions that buy and sell the money market fund. Convert any Dividend Reinvest transactions for the money market fund to Divs. Ignore messages at the end of your download session that say there is a share mismatch in the money market fund. The reported mismatch should equal the balance in your linked account.
    QWin Premier subscription
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