Fidelity Cash Management Account

Jon Monson

I have a cash management account with Fidelity, which is also my broker. While the cash management account acts like a checking account (I can write checks, have an ATM card and can only hold cash), in Quicken it is treated as a brokerage account. This makes it difficult to add new transactions manually as I cannot record a check I have written or an electronic bill pay I have initiated.

Is there any way to change the type of account in quicken from brokerage to a cash account so I can use features similar to a regular bank checking account?

Jon

What problems are you having writing checks & recording electronic bill payments? I do both of those things with my CMA & have had no issues with entering those transactions in Quicken.

You can't change an investment account into a banking account. You'd have to create a new checking account & move the transactions over. However, you can't do this if you want to connect the account & download transactions. For that to work, the account type has to remain a brokerage account. So you'd have to manage the account manually, and even then you'd run into trouble if you ever make any brokerage transactions because those can't be entered in a banking account. I realize it's annoying but odds are you're better off leaving it alone.

Boatnmaniac

Out of curiosity:  In QW there is a way to show cash for a brokerage account in a separate checking account.  Does QM have this same feature?  

Jon

No, QMac doesn't have that.

Boatnmaniac

Jon said:

No, QMac doesn't have that.

Too bad.

Chris_QPW

@Jon Doesn't Quicken Mac have a way to do check writing functions in an investment account?

That is what I was led to believe by reading some of the other Quicken Mac threads.

Jon

It looks like you can print checks for a brokerage account if you prefer; I write all mine by hand.