Why is there no transaction selection for sweeping a dividend into a money market account?

jms2020

I'm frustrated. Vanguard reports a dividend and that's how it's entered into Quicken when you download it. It shows in the register as a cash in transaction. If you choose the DIVX (dividend and transfer) you can only transfer it to another account - not another fund in the same account. I guess you could choose to reinvest the dividend then sell it and add the results of the sale to the money fund but that seems a convoluted way to post a transaction. It would be so much easier if there was an option to post a dividend (still showing it as a dividend for tax purposes) but at the same time moving it to a money fund. Any suggestions?

Jim_Harman

The correct transactions to enter are Div which adds to the account's Cash then Bought to buy the money market fund with the cash. 

[edited] At Vanguard, the Cash balance always ends up at zero, sometimes a few days after the original transaction. If there are 2 dividends on the same day, you will see 2 Div transactions and one Bought of the money market settlement fund for the total amount. If you buy a security, the cash balance will go negative on the date of the purchase then 2 days later there will be a Sold for the settlement fund, bringing the balance back to zero.