Quicken mixes up mutual fund holdings (edit)

rlebrun

When updating holdings and transactions from Fidelity, Quicken does not recognize holdings for Spaxx. It also reports holding Fbalx instead of the accurate one which is Fxaix. It wants to do place-holding entries. It also records dividends for Fxaix as being attributable to Fbalx. I have not owned Fbalx for several years however this problem began some time last summer. These are all mutual funds and set up as such on the security list. I have removed Fidelity from downloads and then re-added. The problem persists. My current version of Quicken is R53.32 I use Windows 11.

I reviewed FXaix and found the box noting that it is matched with online security is grayed out and cannot be checked. However the box for Spaxx is checked.

Boatnmaniac

Regarding SPAXX: That is a Money Market Fund that is the default MMF used by Fidelity for holding cash in the account and they refer to it as the Core Account. (There are a couple of other MMFs that can be optionally selected as the Core Account but SPAXX is the default MMF.) Under the Positions tab in the online Fidelity.com account it used to identify the Core Account with two asterisks behind the ticker (i.e., SPAXX**) but now they simply show the Core Account position as "Cash" with the ticker only shown when you click on "Cash".

Not downloading the shares of the Core Account (whichever MMF is your Core Account) is not a Quicken issue. Fidelity intentionally downloads the value of the Core Account as Cash, not as the MMF. They have done this for at least the last 20 yrs. So, it is best if we don't try to change what Fidelity downloads and instead think of that MMF in the same way that Fidelity thinks of it….as Cash.

Fidelity is not alone in doing it this way. I know Schwab does this (with SWVXX and SWGXX) and there are a few other brokerages that do this, as well.

You can read more about this in the thread at this link: Downloads from Fidelity do not included activity into the settlement fund. There are steps in that thread that can be taken to help reduce the amount of manual transactions entering/editing and can help to keep the Cash Balance and total account value in sync with what Fidelity is downloading.

rlebrun

Ok - I edited Fbalx in the security list and unchecked the box for matching with online security. I then edited Fxaix and it then allowed me to check the same box, which I did. I shall see if that works when the next transactions are downloaded.

Boatnmaniac

Regarding SPAXX: That is a Money Market Fund that is the default MMF used by Fidelity for holding cash in the account and they refer to it as the Core Account. (There are a couple of other MMFs that can be optionally selected as the Core Account but SPAXX is the default MMF.) Under the Positions tab in the online Fidelity.com account it used to identify the Core Account with two asterisks behind the ticker (i.e., SPAXX**) but now they simply show the Core Account position as "Cash" with the ticker only shown when you click on "Cash".

Not downloading the shares of the Core Account (whichever MMF is your Core Account) is not a Quicken issue. Fidelity intentionally downloads the value of the Core Account as Cash, not as the MMF. They have done this for at least the last 20 yrs. So, it is best if we don't try to change what Fidelity downloads and instead think of that MMF in the same way that Fidelity thinks of it….as Cash.

Fidelity is not alone in doing it this way. I know Schwab does this (with SWVXX and SWGXX) and there are a few other brokerages that do this, as well.

You can read more about this in the thread at this link: Downloads from Fidelity do not included activity into the settlement fund. There are steps in that thread that can be taken to help reduce the amount of manual transactions entering/editing and can help to keep the Cash Balance and total account value in sync with what Fidelity is downloading.

rlebrun

Thank you! That explains it well. I'll look into the linked thread.

rlebrun

https://community.quicken.com/discussion/comment/20405122#Comment_20405122

This worked.