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fidelity cash balance

quickj

I have two cash management accounts at Fidelity. The balance is always double because Quicken reports the cash balance in full and then the exact same balance again as an investment. There's no way to correct the balance because of the simplified view. The balance hasn't worked since they changed the Fidelity connection. I have reported it multiple times and still no fix. Does anyone know when Quicken will fix this problem? Also very surprising that Quicken doesn't offer a cash management account type under investments.

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NotACPA

I carry my Cash as cash, not as a Fidelity MMF. SO, your options are to either do the same … or continually use that cash to buy the MMF. And sell the MMF when you use the cash.

Jon

I don't have that issue with my Fidelity CMA - the core MMF money shows up as the cash balance & not as an investment. I'm still using Direct Connect.

quickj

https://community.quicken.com/discussion/comment/20449170#Comment_20449170

One of my CMA accounts is cash core position and the other is the MMF core position. The value for both are way off and there's no way to tell Quicken it's wrong. The cash core does appear as "cash", but the value is double. And the MMF core shows the balance as cash AND as "Fidelity Government Money Market". The account value is right on Fidelity's site as well as using every other data aggregator. Ironically Simplifi by Quicken is correct (but I know this is a different dev team). It is just Quicken desktop that is wrong. This is classic Quicken being Quicken doing dumb things. I have reported this issue numerous times and it's like shouting into a black hole. Problems never get fixed in Quicken desktop, especially on Mac.

quickj

https://community.quicken.com/discussion/comment/20449157#Comment_20449157

One of my CMA is cash core, one is MMF core. Both have values which are double the actual amount in the account.

NotACPA

@quickj If you look back over your previous statements, when (if ever) did the numbers on the statement and in Q agree?

If never, you probably input the initial amount incorrectly.

Otherwise, you're either missing transactions or you've got duplicated transactions. And the only remedy is to go over those statements month by month until you find the error and correct it … either by adding the missing transaction(s) or deleting dupes.

quickj

https://community.quicken.com/discussion/comment/20450993#Comment_20450993

The value is wrong in Quicken and has been since they introduced the "upgraded connection" to Fidelity. Because of how Quicken made the Fidelity connection work, it is not possible within Quicken to adjust the balance or add transactions to these accounts. That is because Fidelity accounts only support "Simple" investment tracking. Changing to "Detailed" will disconnect the account from Quicken because they say detailed is not supported. The probem is 100% Quicken desktop. I have proven it on numerous occassions. Every other app that connects to Fidelity, including Quicken's own Simplifi, has the correct balances and updates daily with the correct balances.

Dennis@1

My Fidelity CMA balance is correct and in detailed view as are all of my Fidelity accounts. I use "Fidelity Investments Mac" as the Financial Institution. Connection Type is Direct Connect. It clearly supports detailed view.

NotACPA

When you do TOOLS, Account List, and click EDIT adjacent to this account, what shows as the "Account Type" and as the "Financial Institution".

Because, I have multiple accounts, both taxable and IRA, at "Fidelity Investments" (FI Name in Q) and they ALL permit "Complete Tracking".

I suspect that you're using "Fidelity - Investments and Retirement accounts" which only allows Simple tracking. WHY?

jacobs

When you do TOOLS, Account List, and click EDIT adjacent to this account, what shows as the "Account Type" and as the "Financial Institution".

Those instructions are for Quicken Windows, and @quickj is a Quicken Mac user. The Mac equivalent would be to click on the account in the left sidebar, select Accounts > Settings. The Details tab shows the account, and the Downloads Downloads tab shows the Connection Type. Otherwise, the instructions above should be accurate for Quicken Mac as well as Quicken Windows.

quickj

https://community.quicken.com/discussion/comment/20451110#Comment_20451110

My accounts are linked under "Fidelity - Investments & Retirement Accounts". I tried to add Fidelity Investments Mac but it's asking for a PIN. Is this my password? Or is there a seperate PIN I need to set up?

quickj

https://community.quicken.com/discussion/comment/20451111#Comment_20451111

Yes I am using "Fidelity - Investments and Retirement accounts" as my connection. That is what Quicken listed when I searched for Fidelity. Someone else commented about "Fidelity Investments Mac" which I found buried in the list. I need to try this.

Dennis@1

https://community.quicken.com/discussion/comment/20451589#Comment_20451589

Try your password. I seem to recall that worked for me.

quickj

@Dennis@1 I finally got "Fidelity Investments Mac" working, and my balances are correct. It seems "Fidelity - Investments & Retirement Accounts", which I was directed to use by Quicken, is messed up and has been since at least December when this issue was also reported in Quicken Community. Not surprised Quicken still has not fixed this.

The login screen says "social security number or customer ID" and "PIN". SSN doesn't work for login. I had to use my Fidelity username as "customer ID" and my password as "PIN".