Wealthfront downloaded transactions treated as expenses

WindowFinance

I download transactions from Wealthfront and import them into Quicken. Whenever there is a dividend distribution, Wealthfront also buys "US Government Money Market Fund RBC Institutional Class 2" with the dividend proceeds. When I run the income and expense report, each purchase of the Money Market Fund is treated as an expense by Quicken. Why?

Each should be treated an an investment. I don't want to exclude the Wealthfront account from the income/expense report because there are genuine expenses in the account such as monthly commission fees. Thanks.

Sherlock

If you include the account that holds the Money Market Fund in the income and expense report, purchases of the Money Market Fund should not be treated as an expense.

WindowFinance

There is only one Wealthfront account. There is no other account that holds the Money Market Fund. Thanks.

Sherlock

WindowFinance said:

There is only one Wealthfront account. There is no other account that holds the Money Market Fund. Thanks.

Are you certain it is the purchase of the security that is being treated as an expense, a Bought action transaction?

WindowFinance

Yes. Attached is the screenshot of part of the report. All the Bought transactions of the Money Market are treated as expenses. Also attached is the screenshot when I double click on one such transaction (1/7/2020 purchase of 4.78 shares which somehow is listed as twice as much in the report). Thanks.

Sherlock

WindowFinance said:

Yes. Attached is the screenshot of part of the report. All the Bought transactions of the Money Market are treated as expenses. Also attached is the screenshot when I double click on one such transaction (1/7/2020 purchase of 4.78 shares which somehow is listed as twice as much in the report). Thanks.

A Bought with realized gain (_RlxGain) implies a prior short.  

I suspect the account has unresolved placeholder transactions.  You may want to review: https://community.quicken.com/discussion/7267839/quicken-faq-managing-placeholder-entries-in-quicken-for-windows

I suggest you check the Show hidden transactions preference: select Edit > Preferences...



and examine the account.  

To prevent Quicken from automatically creating placeholder transaction, I suggest you uncheck the account in the Compare Portfolio preference:

WindowFinance

Thank you! Wealthfront does not work well with Quicken at all. I should have chosen more established brokers instead.