Hidden Link Between Investment and Cash Account

kaseyjb

I have been using Quicken for a very long time and remember at some upgrade point, Quicken stopped using linked cash accounts to investment accounts (or maybe this was an option I chose). All of my investment accounts converted correctly except one that still has a "CMA-linked" account. There is no option in the investment account to unlink the cash account but this link is preventing me from reconciling the investment account.

Any suggestions?

NotACPA

This is a stretch/quess, but see if this works.

1) TAKE a backup.  What follows is a guess, and you want this backup to fall back on.

2) Create a brokerage type account, but don't connect it to any financial institution

3) DISconnect the erroneous account from download.  CTRL-A, click on the Online Services tab, and click Deactivate.

4) Click the "Tax Schedule" button, and make sure that the "Transfers Out" option is blank

5) Use "Shares Transferred between accounts" to move each security to the new account.  Also use "Cash transferred ..." if appropriate

6) You MIGHT need to transfer the funds in that "CMA-Linked" account to the brokerage also.

7) At this point, the CMA account and the IRA account should both have $0 values and ALL of the amounts shown at the Brokerage website should be in this new Brokerage  account.

8) CLOSE, but to NOT delete the erroneous IRA account

9) Activate the new brokerage account for download.

kaseyjb

It is an IRA-type investment account.

NotACPA

Are you a former MS Money user, who set this up with Money ... and then converted to Q?

Because, in Q, a retirement type account can't have a "Linked Checking Account".

SO, when you do CTRL-A, and click EDIT adjacent to the account, what is shown as the "Account Type"?

Lastly, what type of "reconciling" are you trying to do with this account?  The cash only, or the securites?  Because there's really no "reconciling" of the securities ... just eye-ball comparisons of the securities held, unit prices and total value.

kaseyjb

Thanks for you response NotACPA...you are correct...I am a converted MS Money user. The account type is an IRA (which is wrong because it is really just a regular brokerage account) and the linked account is a checking account.

I like the reconcile feature in an investment account because it allows all of the transactions for the period to be marked "reconciled" without marking each individually, changes the "last reconciled" date in the account list, and confirms cash transactions.

Let me know if you have any ideas how to unlinked these accounts. I may be just recreating everything.

NotACPA

This is a stretch/quess, but see if this works.

1) TAKE a backup.  What follows is a guess, and you want this backup to fall back on.

2) Create a brokerage type account, but don't connect it to any financial institution

3) DISconnect the erroneous account from download.  CTRL-A, click on the Online Services tab, and click Deactivate.

4) Click the "Tax Schedule" button, and make sure that the "Transfers Out" option is blank

5) Use "Shares Transferred between accounts" to move each security to the new account.  Also use "Cash transferred ..." if appropriate

6) You MIGHT need to transfer the funds in that "CMA-Linked" account to the brokerage also.

7) At this point, the CMA account and the IRA account should both have $0 values and ALL of the amounts shown at the Brokerage website should be in this new Brokerage  account.

8) CLOSE, but to NOT delete the erroneous IRA account

9) Activate the new brokerage account for download.