Linking bank transfer to Fidelity account (Home, Business & Rental Property for Windows)

Bob G

I am unclear how to link a transfer from my bank account to my Fidelity brokerage account, when that Fidelity account is automatically downloading updated status. If I transfer from my checking to savings (for example), if I go to the entry in my checking and show it as a transfer to Savings, when I go to savings it notes it as a match and I can confirm that. I do not get the same opportunity from Checking to Fidelity. If I set the Checking entry as a transfer to Fidelity in Quicken, it adds it to the Cash line in that account and I am double counted. What is the best or most appropriate way to deal with this ?

Chris_QPW

Do you have automatic transaction entry mode on for investment accounts?


If you do, I recommend you turn it off.  That will mean that the downloaded transactions go to the Downloaded Transactions tab, and provided that you put in the transfer before downloading the transaction from Fidelity, you should be able to match the downloaded transaction to the one that is already in the register.

There is a way to do the same kind of matching with the automatically add to investment lists on, but because of other bugs in this mode I don't recommend people using it.

Bob G

Thanks .. let me try this. If I follow what you say, potential issue I see is that the bank debit and Fidelity account will get sync'd at the same time (although not processed by me to right category until after). But, maybe I misunderstand.

Chris_QPW

I should have pointed out how you enter that transaction in the checking account matters.  The category in the checking account should be the name of the Fidelity account in square brackets, so that it is a transfer, and creates a linked transaction in the Fidelity account that when you download the transaction from Fidelity you can match to it.

For instance, if the Fidelity account is called "Fidelity IRA" then the category field in the checking account should be set to [Fidelity IRA].

It also usually helps if you pre-enter the transfer transaction in the checking account before you download it.  That way it should be just matching to it in both accounts.  In fact, hopefully Quicken will even match them automatically.