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Reconcile Cash on an Investment Account

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This discussion was created from comments split from: Account Reconciliation for Edward Jones.

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Jeff627

There is an underlying issue not mentioned above. Quicken programmers did not seem to realize that we might want to reconcile cash associated with an investment account as we do other cash accounts. The cash balance is not captured in the reconcile screen and must be obtained using the online center screens and then entered manually. Furthermore not all cash transactions are captured in the reconcile functionality so the user must resort to paper and pencil. The functionality is worthless as programmed and apparently Quicken does not consider this a problem (based on a long call with customer service this morning). I came across this because I've started using my investment account for checking. Quicken's handling of cash associated with an investment account is quite disappointing.

Boatnmaniac

@Jeff627 - Have you set up your investment account to Show cash in a checking account? This option allows for cash transactions to be tracked like they are in other checking accounts. And while it does not have the feature that allows you to reconcile to online balance it does allow for reconciliation without needing to use paper and pencil.

uuyankee

Jeff, where is the "Show Cash in a Checking Account" option. Is it only available during account creation? I have an LPL IRA account with check writing privileges. I download transactions from LPL. I have been reconciling the cash balance in the account quite handily, until recently. I have several automatic withdrawals for the same amount and sometimes have checks for the same amount in a month. As you probably know, the check numbers are not displayed in the reconcile window. This morning I hit upon a workaround solution. I am going to add the check number or a code to the end of the Description Field in the register. During reconcile the Description field is displayed in the Security column.

Chris_QPW

uuyankee said:

Jeff, where is the "Show Cash in a Checking Account" option. Is it only available during account creation? I have an LPL IRA account with check writing privileges. I download transactions from LPL. I have been reconciling the cash balance in the account quite handily, until recently. I have several automatic withdrawals for the same amount and sometimes have checks for the same amount in a month. As you probably know, the check numbers are not displayed in the reconcile window. This morning I hit upon a workaround solution. I am going to add the check number or a code to the end of the Description Field in the register. During reconcile the Description field is displayed in the Security column.

The option would be in the account details, but it is only available for non retirement account types.