Brokerage and IRA accounts do NOT reflect cash balances in those accounts (Q Mac)

tnkhoury
tnkhoury Member
Brokerage and IRA accounts do NOT reflect cash balances in those accounts. First Republic Securities brokerage accounts hold cash in something called an "Eagle Bank Sweep" security, but Quicken does not recognize that as anything and therefore understates the balance. Been going on for a long time, very frustrating to not have a fix.

Best Answer

  • MontanaKarl
    MontanaKarl Member, Windows Beta, Mac Beta Beta
    edited January 1 Accepted Answer
    This would appear to be a flaw on First Republic Services' end of things.  Other brokerages properly download bank sweep balances as cash into QMac.  If First Republic is not reporting this as cash, do they report it as a security balance?   If so, you're kind of stuck with that as First Republic controls what is downloaded to QMac.  You'll have to phone First Republic if it is not showing up at all, even as a fake 'security'.

    Quicken Windows and Mac subscription.  Quicken user since 1990.

Answers

  • MontanaKarl
    MontanaKarl Member, Windows Beta, Mac Beta Beta
    edited January 1 Accepted Answer
    This would appear to be a flaw on First Republic Services' end of things.  Other brokerages properly download bank sweep balances as cash into QMac.  If First Republic is not reporting this as cash, do they report it as a security balance?   If so, you're kind of stuck with that as First Republic controls what is downloaded to QMac.  You'll have to phone First Republic if it is not showing up at all, even as a fake 'security'.

    Quicken Windows and Mac subscription.  Quicken user since 1990.