Brokerage acount

Tom14

I download my Vanguard brokerage account into Quicken. I selected the option to create a cash banking account for my Vanguard cash. Now, the new cash account in Quicken is ALL uncleared transactions, and the cash account balance is zero. Question - How to clear ??? and get a correct updated balance?

Frankx

Hi @Tom,

Yes, I understand what you did and the result you received, including the "and every transaction from Day One is an uncleared transaction" - because I recreated your steps in a test Quicken account before I posted above.  That is the reason I suggested (above) that you reverse the steps you had taken. 

However I think it is important to understand that it will be impossible to achieve the same display for your Vanguard accounts as you have with your PNC accounts, and this is because - in once case (PNC) you are dealing with a bank that has an investment arm, while for the other case (Vanguard) you have a mutual fund company that has a brokerage arm (and no bank).  Vanguard doesn't have bank accounts it has mutual funds that you can make investments in and withdrawals from, and - in some cases - can sell investments and have the proceeds paid out via a check.  But any "cash" has to be held in an investment account as an investment and not as cash.  Your "PNC Money Market Account" is a bank account and not an investment account.

You said "but I would prefer for the navigation pane to just show my Vanguard Money Market account".  I assume that by "navigation pane" you mean the "account bar" on the left hand side of the home page, and that your Vanguard "cash" is your Vanguard Federal Money Market Fund investment which is a holding in your Vanguard Discount Brokerage Account ("VDBA").  I know of no way to have that investment holding appear separately in the account bar or anywhere else other than as an investment in your VDBA.  Sorry!

Frankx

Frankx

Hi @Tom,

Not sure why you selected the option to create a cash banking account for Vanguard, since - as you likely know - Vanguard sweeps all cash transactions into its federal money market mutual fund.  However, you can reverse the option you selected - and remove the new cash account as well as all of its transactions (i.e. ALL the uncleared transactions) by doing the following:

1) Open the Vanguard Discount Brokerage account;
2) Click on the gear icon in the upper right hand corner;
3) Select "Edit account details";
4) For the "Show cash in a checking account" option, click "No";

This should reverse everything and remove the cash account (which is not needed).

Get back to me if you have any questions.

Frankx

Tom14

Thanks SO much. Allow me to try again. I have two brokerage accounts. When I download PNC Brokerage into Quicken., the navigation pane depicts my PNC Money Market Account. Pure cash, which is what I want to track daily. When I download Vanguard, the Navigation Pane depicts my entire brokerage account ( 6 figures). I can click on it and dig through to find my cash, but I would prefer for the navigation pane to just show my Vanguard Money Market account. The reason for all this is the fact that I set up views to consolidate several cash accounts. That's why I thought selecting the cash option for Vanguard might give me what I want. However the Vanguard cash account in the navigation pane has a zero balance and every transaction from Day One is an uncleared transaction. Thanks for your time.

Frankx

Hi @Tom,

Yes, I understand what you did and the result you received, including the "and every transaction from Day One is an uncleared transaction" - because I recreated your steps in a test Quicken account before I posted above.  That is the reason I suggested (above) that you reverse the steps you had taken. 

However I think it is important to understand that it will be impossible to achieve the same display for your Vanguard accounts as you have with your PNC accounts, and this is because - in once case (PNC) you are dealing with a bank that has an investment arm, while for the other case (Vanguard) you have a mutual fund company that has a brokerage arm (and no bank).  Vanguard doesn't have bank accounts it has mutual funds that you can make investments in and withdrawals from, and - in some cases - can sell investments and have the proceeds paid out via a check.  But any "cash" has to be held in an investment account as an investment and not as cash.  Your "PNC Money Market Account" is a bank account and not an investment account.

You said "but I would prefer for the navigation pane to just show my Vanguard Money Market account".  I assume that by "navigation pane" you mean the "account bar" on the left hand side of the home page, and that your Vanguard "cash" is your Vanguard Federal Money Market Fund investment which is a holding in your Vanguard Discount Brokerage Account ("VDBA").  I know of no way to have that investment holding appear separately in the account bar or anywhere else other than as an investment in your VDBA.  Sorry!

Frankx

Tom14

Again, thanks so much. Now, I know my limitations. LOL. Fortunately, I have a workaround. My Vanguard account consists of only three securities (but, 3 large ones). I only get one quarterly dividend per month from the three. So, I can set up a dummy cash account, enter my reminders, and replicate my one transaction monthly in the dummy account. Then I can include the dummy account in with other views when I want to consolidate some balances. Thanks for your very professional support.

Frankx

@Tom,
Thank you for your kind words!

Take care & stay safe.

Frankx