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Quicken Classic for Windows
Registers & Transactions (Windows)
Transferring outside cash into sweep account
Heine Ootenvault
I transferred cash from an Transfer upon death account into my Quicken brokerage account. It shows up as cash, but it want it in my sweep account. What is the procedure? Now when I use the sweep to reconcile a stock purchase, it states the sweep account is negative.
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Tom Young
What's the "real life" situation here? You say the cash was deposited in the brokerage account but don't state where the cash is now.
If it's still in the brokerage account can't you transfer it to the sweep account so you're not going negative cash with your buys?
UKR
At least in the brokerage managing my investments, there's a 2 - 3 day delay between arrival of cash in the investment account and the money being swept up into the Sweep account.
My brokerage never downloads any sweep - in or - out transactions, so I have stopped manually recording sweep transactions years ago. I just keep the sweep fund's balance as if it was cash remaining in my investment account. Works well when reconciling, and saves me whole lot of unnecessary manual work.
Boatnmaniac
I, too, hold all my brokerage accounts cash in Quicken as
Cash
, mainly because my brokerage (Fidelity) downloads all
Sweep
and
Settled Cash MMF
(also called
Core Account
) holdings as
Cash
even though my online account at the brokerage shows it being held in
Sweep
and
Settled Cash MMF
securities.
If, however, you really want or find a need to hold it in your
Sweep Account
, you should be able to do this provided your
Sweep Account
is set up in Quicken as a security. Assuming this is the case, enter a
Buy
transaction for the
Sweep Account
security at $1.00 per share with the number of shares being the dollar value of the cash transferred into the account.
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