How do I update the cash amount inside an investment account?

Question

I recently converted from TD Ameritrade to Schwab when Schwab acquired TDA. Schwab is now the custodian of my retirement accounts. Quicken does not download SWVXX, a money market mutual fund in my portfolio and has not since the custodial conversion. So my account balances are never correct. But Quicken does show a non-mutual fund cash balance in my portfolio - I have no idea where it is getting this balance. This amount is nowhere to be found on the Schwab account summary. How can I force quicken to download SWVXX or just update the cash balance to correct the account balance? At least I can update the securities/share price. The cash amount seems unalterable. (Quicken for Mac 7.2.3)

sscaffe · Answer

Thanks John! This resolved the cash balance discrepancy. What's weird is that when I went to Adjust Account Balance, it pre-populated the adjustment amount with the exact dollar figure necessary to reconcile the error. It's as if the register knew it was wrong but could not know how to correct. I had 4 different accounts with this problem and they are all reconciled now thanks to this correction.

John_in_NC · Answer

Great!-having detailed tracking was the deal breaker.

You could handle this a few ways, and it depends on how you want to approach it.

* From the menubar, you could use Accounts: Adjust Account Balance to change the cash balance in the account

2. You actually setup the SWVXX as a security (MMFs typically have $1/share price) and enter your holdings via an Add Shares transaction. Some brokerages handle cash this way in their sweep funds, while others push out a cash balance.

Since you have Detailed tracking, it might be a good idea to do a little spelunking in those investment transactions to see where your cash balance is being denied from. Is it a # being pushed out from Schwab, or is it being derived from the balance in your Investment register. Toggling between Transactions and Portfolio view in this account should shed light on that.

With a little work, I think you will find out the best solution to get your account to match.

Good luck!

sscaffe · Answer

This account is using detailed investment tracking method and it has the transaction tab. Still will not download SWVXX.