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

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?

Best Answer

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited December 2022 Answer ✓
    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.
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Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited December 2022 Answer ✓
    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.
    QWin Premier subscription
  • jms2020
    jms2020 Member ✭✭
    I made it way too complicated! :)
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    In my Fidelity accounts in Q, I just carry the cash as CASH, not as a MMF.  Makes life much simpler.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    NotACPA said:
    In my Fidelity accounts in Q, I just carry the cash as CASH, not as a MMF.  Makes life much simpler.
    Does Quicken offer that option for your settlement fund at Fidelity, or do you have to delete all the downloaded transactions?
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  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    I have to change nothing in Q nor do I delete downloaded transactions.
    If a DIV is reinvested, it downloads from Fido as REINVDIV. 
    If there's a Div and another income transaction (say a CGLONG) they will download as separate transactions followed with a BUY.
    The DIV on my MMF holdings (in my Rollover IRA) are simply shown as cash, and come in as cash.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP