Challenges Linking to a Merrill Lynch Cash Management (CMA) Account

Patch0221

I am intending to use Quicken as a home budgeting tool and in the process of setting up my income and spending accounts accordingly. So far, I have successfully linked my Bank of America credit card and debit card accounts. My next step is to link my Merrill Lynch brokerage accounts to include a cash management account (CMA) through which I funnel my retirement fund income and any employment income I receive. It is through that CMA account I also do my checking. When I go through the Quicken process for registering my Merrill Lynch accounts it treats the CMA account as a brokerage account and not a cash (income and expense) account. My options apparently Brokerage, 529 or IRA, Is there a work around for this so that Quicken treats my Merrill CMA similar to my banking accounts?

Quicken Kristina

Hello @Patch0221,

Based on your description of the issue, it sounds like the only option Merrill Lynch gives is for the account to be treated like an investment account. Once the account is connected in your Quicken, you should have the option to separate cash transactions to a checking account register. Go to Tools>Account List, then click the Edit button next to the account name. On the General tab, you should see the option (see sample image below).

I hope this helps!