Transferring outside cash into sweep account

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.


  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    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
    UKR SuperUser ✭✭✭✭✭
    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
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited January 2021
    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.

    (Quicken Classic Premier Subscription: R52.33 on Windows 11)