recording a dividend taken as a cash to money market account

tonyvanw

For years I have not had a problem recording yearend dividend and related transactions. This year I am have a problem. I am receiving a mutual fund dividend and applkying it to a money market account with the same fund company. The transaction I receive is in the proper format indicating it is a transfer. I try to complete the transaction and it will not allow me to indicate the recipient fund. If the account name Price Science it insists that the recipient fund is Price Science- Cash. I did this and I noticed that a new account shows up called Price Science-Cash that has a negative balance. The negative balance also shows up on the Portfolio View (which is quite unhelpful). Any solutions? The Price Science account is coded "yes for "Show cash in a Checking Account"

Tom Young

If you don't try to accept the downloaded transaction but instead enter the transaction manually, does that work?  What Version and Build are you on?  (Help > About Quicken) 

I guess the first and easiest thing to try would be shutting down Quicken and then restarting the program.

Jim_Harman

Also if you click on the gear at the top right of the account and select Edit account details, is Single Mutual Fund selected? That will make a difference in how these dividends are recorded.

tonyvanw

Thank you for your responses. Here is a little more information. The version of Quicken is R45.21 (HF3)
The mutual funds I am having trouble with are with TR Price. Each individual Price fund is in it's own Quicken account and the Quicken accounts are brokerage accounts. So, the issue of a "single mutual fund" Quicken account does not come up.

mshiggins

tonyvanw said:

The Price Science account is coded "yes for "Show cash in a Checking Account"

The only available transfer account with this setting will be the Price Science-Cash account. If you want the cash to go to another account, you should change the setting to “no”. 

tonyvanw

Thank you for your comment. I did change it to "no" and it rebuilt the account and it appeared that data was getting changed - I became much wealthier. I abandoned this idea and used the most recent saved file to restore. So far, I am thinking that the best solution is to just do a reinvest option with the mutual fund.

q_lurker

tonyvanw said:

Thank you for your comment. I did change it to "no" and it rebuilt the account and it appeared that data was getting changed - I became much wealthier. I abandoned this idea and used the most recent saved file to restore. So far, I am thinking that the best solution is to just do a reinvest option with the mutual fund.

How have you been using that linked cash account?  
Changing to 'No' should have moved the transactions into the xxx brokerage account from the xxx=Cash account.  It should not have changed your overall wealth, but it would move it from the Cash set of accounts in Quicken to the Investing set.  If you have extensive day to day use of that linked cash account, the transfers could take some time. 

So with that linked cash account, the dividend received in cash has to go to that cash account.  (I was not aware you could not redirect it.  Seems like a programming oversight.)  You can still buy the MM fund in a different account (or the same brokerage account) accessing that xxx-Cash account for the funds.      

Finally, in many cases that 'cash' in the account is already and automatically rolled into a MM fund.  Some users choose to not Buy and Sell shares of the sweep MM fund account but rather just recognize that whatever cash is shown in the account is (strictly speaking) shares of a MM fund.  Perhaps in this case you are choosing a different, higher yield MM fund for this portion of your cash assets.