Automatically "sweep" interest payments to MMF?

EmKay

I don't know if this is the right terminology - but my interest income in my Fidelity HSA is "swept" to a MMF. When I download transactions, though, the IntInc transactions are left in cash and I have to manually enter this "sweep" to the MMF.

There's a field on the Income transaction type for Transfer account - is there any way to transfer, on that IntInc transaction, to a specific SECURITY within the SAME account?

Tom Young

"There's a field on the Income transaction type for Transfer account - is there any way to transfer, on that IntInc transaction, to a specific SECURITY within the SAME account?"

No. That's referring to the actual movement of cash out of the Account to a different Account.

IF the situation is that this is a real "sweep" situation - cash is moved automatically and without input on your part - into a "money market account" where the "share" price is always $1, THEN carrying the MMF as cash really isn't a problem, other than how Fidelity is reporting this to you. That is, the number of shares of the MMF plus any actual cash that's in the account should equal the cash in your Quicken Account.

If you want to have the MMF actually accounted for as a security so that the reporting and your Quicken Account are in sync there does seem to be a way to do that, though that ability seems to be dependent on the financial institution involved, and I don't think Quicken has been entirely clear on the whole subject. The first thing I'd try is to click on "Update cash balance…" that's in the Account's Action icon (gearwheel) and see if on that screen you have the option of changing how the MMF is tracked in Quicken. It would look something like this:

The other place the ability to make that choice comes up that I've seen is when you initially set up an Account for downloading. You can try going that route by disconnecting all Fidelity Accounts in Quicken and then starting the "Set Up Now…" process under the Online Services tab of the Accounts.

Here's Quicken's Help file info on this subject:

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