How can I avoid conversion of cash to money market shares and just have cash and mm interest?

gould12

One of my investment accounts only uses cash and money market interest. The other Quicken investment account, which was recently deleted and "restarted",set up all cash as money market and overvalued the account.

Jim_Harman

Some FIs automatically "sweep" uninvested cash into a money market fund and show the cash balance in the MMF. Whenver there is cash in the account as a result of a dividend, deposit, or sale of a security, the FI will download a Buy of the MMF to bring the cash balance to zero. Whenever you Buy a security, the FI will sell the MMF to generate the needed cash.

Is this not happening in your case?

If you would rather see the uninvested money as a cash blance in the account, you will have to delete all the Buys and Sells of the MMF and/or not accept them when they are downloaded

Jim_Harman

Some FIs automatically "sweep" uninvested cash into a money market fund and show the cash balance in the MMF. Whenver there is cash in the account as a result of a dividend, deposit, or sale of a security, the FI will download a Buy of the MMF to bring the cash balance to zero. Whenever you Buy a security, the FI will sell the MMF to generate the needed cash.

Is this not happening in your case?

If you would rather see the uninvested money as a cash blance in the account, you will have to delete all the Buys and Sells of the MMF and/or not accept them when they are downloaded

gould12

Thank you. It was easy to delete all the Buys and Sells. Since I had to delete and restart the account, there was only 1 Added transaction for the money market. So I just had to delete the one transaction and add to the cash value.

NotACPA

If this account is NOT a retirement type account ... have you looked into the "Show cash in a checking account" option?  TOOLS, Account List, click Edit adjacent to the account and that option should be there.