Wealthscape Acct Cash Sweep & Cash Balances in Q Don't Match Bank Acct

raymorr2

I'm using PC Subscription Quicken ver: R35.31 build: 27.1.35.31 with windows 10 home 20H2 build 19042.1237.

I have a broker account which I added to Quicken several years after I opened it. I was unable to download all the transactions, and had to manually input the oldest ones.

Normal flow for this account is:
money deposited, cash sweep shares(@$1.00 ea) purchased in equal amount.
If security purchased, equal $ amt of cash sweep sold to pay for it.
If security sold, equal $ amt of cash sweep purchased.

What's happening in Quicken is that I enter a deposit, say $1000.00. Quicken auto-generates an entry XIn to add $1000.00. "This transaction was entered by Quicken to maintain your existing cash balance. This transaction cannot be modified" The placeholder tab says 0 placeholders.

When a dividend is deposited, it also creates an Xout. When a cash sweep or any share is bought, Xln. When sold, Xout.

My problem is that although all the regular security shares balance between quicken and my account, the cash balance and the cash sweep balances are way out of wack.

When I look at the downloaded transactions, there are no matching Xln or Xout entries like in the manual entries. I know I can generate a placeholder to make them match, but that doesn't explain how this happens, and it's only a temporary fix.

I've compared my statements to all the entries in quicken. Every cash and cash sweep entry is there (6 years worth). The downloaded transactions follow the normal flow as I described above. Only the manual entries show the Xln and Xout transactions.

I would greatly appreciate any help. Thanks in Advance.

[edited for readability]

q_lurker

Mostly asking for clarifications right now -- 

I was unable to download all the transactions, and had to manually input the oldest ones.

If this what you are doing now that isn't going right - making manual entries?  Is there an "Opening Balance" cash transaction and you are entering transactions before that date?

What's happening in Quicken is that I enter a deposit, say $1000.00. Quicken auto-generates an entry XIn to add $1000.00. 

How are you entering that deposit in Quicken?  As a transfer from a checking account?  Directly into the brokerage account?  There is nothing particularly 'wrong' with an XIn transaction for a deposit into the account.  As a transfer from another account, Xin is normal.  

"This transaction was entered by Quicken to maintain your existing cash balance. This transaction cannot be modified" 

When and where are you getting this message?  Can't say I have ever heard or seen it mentioned before.

The placeholder tab says 0 placeholders.

Despite that reference, make sure your Edit / Preferences / Investment Transactions selection is set to show hidden placeholders.

For the Account Details settings, do you have it set to "Show cash in a checking account".  It can work either way just fine, but with that set to Yes, you will have a second account for the cash something like "Brokerage-Cash".  That can create confusion for some.  

raymorr2

First, I do have it set to show hidden transactions. I get the message (which also tells me to look up placeholders) if I try to delete one of the auto-generated transfers. (But the placeholder tab shows zero entries)

The account is setup i[n] Q as a brokerage account, tax-deferred, with show cash in a checking acct set to NO. Wealthscape only offers downloaded transactions for the most recent 3 years. The account was older than that when I started tracking it in quicken, -> need for manual entries.

First entry is manual, a cash deposit. Q created an Xln for the same amount. Second transaction is purchase of cash sweep shares for same dollar amt as deposit. Q created another Xln.  Multiple purchases of different securities, each with its own Xln. Then sale of cash sweep shares, equaling dollar amt of purchases.  Q created Xout equal to that dollar amt.

I can understand the need to transfer funds in and out. What has me questioning this is because for all the transactions which were downloaded, there are no similar transfers listed. They only appear under the manual entries.

My cash balance is off by a significant amount, and the cash sweep balance is off by about 2 1/2 times the difference in the cash balance. I thought that perhaps the inconsistency in these transfers could account for the cash difference. But I quadruple checked all the cash sweep entries, both manual and downloads, against my statements, and they all match up, so I have no possible explanation why they don't match.

[edited for readability]

q_lurker

Thanks for the expansion.  

First entry is manual, a cash deposit. Q created an Xln for the same amount. Second transaction is purchase of cash sweep shares for same dollar amt as deposit. Q created another Xln.  

So first transaction is an XIn creating a cash balance in the account.  No Problem.

Then you enter a Bought transaction buying shares of the MM sweep fund.  The cash balance drops. 

Then Quicken adds a second XIn transaction.  The cash balance goes back up again.  The first two manual transaction entries followed by an out-of-nowhere third.  I've never seen that type of behavior before.

As a test, I would be creating a new investment account for testing unaffiliated with Wealthscape (or Fidelity) and try those same two beginning entries.  I am sure you will not see the same behavior. 

That takes me to wondering about this Wealthscape connection.  Wealthscape is a creation of Fidelity which seems to have a solid relationship working with Quicken.  Perhaps someone with Fidelity experience can help out.