Cash Reserves/Cash Imbalance

Diver42420

My Fidelity investment account is messed up in Quicken (windows Home & Business 2019 desktop). The Quicken balance matches what Fidelity shows, but when I look at the holdings they're all correct except "Fidelity Cash Reserves" shows a negative number and "Cash" shows a positive number of the same value. There is no cash in the account, it's all invested. I think a downloaded transaction went wrong? How can I correct it? If I change the cash value to zero it throws the amount off, obviously.

Jim_Harman

One way to do that would be to enter a Buy for Fidelity cash reserves on the date when the cash balance was first incorrect. 

BOB139

Dealing with the same thing.. Quicken is making up transactions that Fidelity account transaction history doesn't show. In my case it's Fidelity Government Money Fund which I believe is my default position setting with Fidelity. If you check yours I bet it's set to Fidelity Cash Reserve Fund.

Seems like the best fix is to delete the transactions that made your cash balance mismatch and then in the future don't accept them, when you click and hold on Edit button it will give you the delete option. In other words if the transaction does not appear in your Fidelity account history or even monthly statements, why would you track it in your Quicken?

NotACPA

It's a whole lot simpler, in a Fidelity account, to simply hold Cash as CASH, rather than as a MMF.

That way you don't have to deal with all of the MMF buys or sales whenever there's a transaction in the account.

AND dividends upon this cash still download into the account as Cash ... they're just not used to buy the MMF at a constant $1.

Rocket J Squirrel

I agree with @NotACPA . My core holding is Fidelity Government Money Market, and my holding in that fund is shown not as shares, but as my cash balance. This is the simplest and best way to handle cash in a Fidelity account.