How can I use tags in Fidelity Cash Management account

This account is incorrectly categorized as an investment account. I want to use tags to track what financial instrument is being used to make a payment.

Best Answer

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited January 4 Accepted Answer
    It is CORRECTLY categorized as an investment account.  Fidelity is an investment company, not a bank, and Fidelity can ONLY have investment accounts.
    HOWEVER, there's a workaround.  Do TOOLS, Account List and click EDIT next to the name of your taxable Fidelity account,  then click "Show Cash in a checking account". 
    This will cause a checking type account to be created that holds all of the cash transactions from your taxable brokerage account.
    While this new account doesn't really exist, you can reconcile it and use tags just as if it were really  a checking account.
    In my Q,  this is my primary checking account.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited January 4 Accepted Answer
    It is CORRECTLY categorized as an investment account.  Fidelity is an investment company, not a bank, and Fidelity can ONLY have investment accounts.
    HOWEVER, there's a workaround.  Do TOOLS, Account List and click EDIT next to the name of your taxable Fidelity account,  then click "Show Cash in a checking account". 
    This will cause a checking type account to be created that holds all of the cash transactions from your taxable brokerage account.
    While this new account doesn't really exist, you can reconcile it and use tags just as if it were really  a checking account.
    In my Q,  this is my primary checking account.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • steveweick
    steveweick Member
    Exactly right. Many thanks, problem solved.
  • bobluck
    bobluck Member ✭✭
    I Guss Quicken Mac users are left out of the party again, option not available to us.
This discussion has been closed.