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Bond Sale entered manually does not credit linked cash account

chipfish

Manually entering a bond sale in a brokerage account. The cash from the sale is not posted to the linked checking account. When you edit the trade (see screen shot attached) and you hit 'enter/done' the system automatically flips the checked dialog box ‘Record Proceeds’, from the second option ‘Deposit to the name of the Link checking accounting’ to the first option "this account's cash balance. As a result, the linked checking accounting does not get the cash nor is the cash credited to the brokerage account itself. I have entered case # 7237064 with Quicken support that believes this to be a bug. Does anyone have a work around.

Using Windows 10 current version and Quicken 202 Version R23.17

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chipfish

Here is the screen shot

image.png

Jim_Harman

If you go to the Account details for this account, what does it say for the account type? The name in your screenshot implies that it is an IRA, and IRAs are not normally allowed to have linked checking accounts.

chipfish

Jim
Cash Account Account type is checking. The option for tax deferred is checked yes.
Brokerage account account type is Brokerage. The option for tax deferred is checked yes. The option to show cash in a checking account is checked yes.
I have been processing it this way since April of 2000. I do think I have ever had a treasury bond mature in it before that I have had to manually enter. Normally the Schwab down loads work fine. This one did not so I had to back out the bond and re-enter the buy and sell. The sell (matured) is the failing transaction.
Thanks for the info I changed both accounts to indicate no tax deferred and issue still persists. There is no indication that this is an IRA in Quicken except for the account name.

Chip

Tom Young

"the system automatically flips the checked dialog box ‘Record Proceeds’, from the second option ‘Deposit to the name of the Link checking accounting’ to the first option "this account's cash balance. As a result, the linked checking accounting does not get the cash nor is the cash credited to the brokerage account itself. "

That doesn't make sense and I'd guess there's something wrong within the data base itself. I notice your "to" Account looks to be grayed out, and that doesn't seem right. Is there any reason for that?

q_lurker

I have a couple of old, now inactive, 'retirement' accounts set up as Brokerage accounts, tax-deferred state, not with linked checking account, but the option to link to a checking account exists. So I think this is a function of the age of your setup. I presume you have a button at the bottom of the account Details that offers you the ability to "Convert to 401k/IRA/529". (I'd stay away from that for the moment.)

With a healthy backup available, I'd be inclined to switch to No for the linked checking account. See where that takes you.

The other concern I would have is the bond you are selling. Be sure the option to show hidden transactions is set to yes and that you have no placeholders for that bond.

You might also see if you can sell a different security or bond without issue. That would also identify that there is something to look for in this bond's history.

chipfish

Tom, It isn't greyed out. Here is a screen print of a different brokerage account that has a linked cash account. It looks the same

chipfish

Here is the screen

image.png