Proper Set up for Vanguard Cash Plus

sulliho

I read all the "closed" discussions from the many Quicken users on this topic, but I found no answer. I have asked Vanguard, who points me to Quicken. The answers here say: Ask Vanguard. I set the account up as a savings account, but it downloads interest as a payment (e.g., a deduction). I have to manually change it and the "red flag" for reconcilation never goes away. Nor can I manually reconcile the account to make the red flag go away. It would be great if Quicken/Vanguard could address this given the obvious recurring issue many users are having.

Bob_L

I agree. Surprised you could set it up as a savings account! Mine is set up as a brokerage account with no linked checking(didn't help). It definitely doesn't work correctly. I set up a test in a new file and sent screenshots of the register to my rep at Vanguard pointing out that

1. It sets up a phony security instead of just using cash transactions.
2. This then requires in and out transactions instead of just one.
3. No payee name is provided
4. Interest income transactions are not being reported correctly. The interest income is booked, but then for some reason eliminated making the balance wrong.

My rep assured me he is forwarding my input to a group that deals with client concerns like this. I sent it in on Feb 9 so hopefully I should hear something soon. This new service is not yet generally available so you would think that they would look into concerns like ours before going fully available.