New vanguard cash deposit settlement fund

chuck s
chuck s Quicken Windows Subscription Member ✭✭
edited November 17 in Investing (Windows)

One Step Update downloads interest as Income with a corresponding entry for Misc. Expense.

This results in the balance in my settlement fund being understated. It should download in one entry as Reinvest Interest, which would then show the correct balance. Does anyone have a fix for this? I can fix it manually by deleting the Misc Exp entry and editing the Income entry, but it's a pain.

I asked Vanguard, but they just sent an unhelpful message.

Thanks. Chuck

Comments

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited October 17

    This has been reported multiple times. If you search this forum for "Vanguard cash plus" (with the quotes) you will find 17 separate discussions starting with when Vanguard first offered the Cash Plus accounts. There has been no resolution as far as I can tell. See this discussion for example

    https://community.quicken.com/discussion/7955872/why-is-interest-income-from-vanguard-cash-plus-account-showing-an-additional-debit-as-miscexp

    It appears that this is an issue with the data that Vanguard is sending to Quicken, which Vanguard may or may not be interested in fixing.

    Forum Moderators sometimes review issues discussed here and refer them to Development or their connectivity experts, but if you want Quicken to work on a problem, I recommend you contact Support via phone.  Be sure the support agent understands the problem and gives you a ticket number for future reference.

    You should also use the Help > Report a Problem menu in Quicken to submit the issue online. In your submission, be as clear and thorough as possible. Reference the ticket number and provide a link to this discussion. Provide step by step instructions to reproduce the problem.

    You will not get a response to an electronic submission, but apparently they review and prioritize the submissions and use the data to help resolve problems they decide to work on.

    QWin Premier subscription
  • markus1957
    markus1957 Quicken Windows Subscription SuperUser, Windows Beta Beta
    edited October 17

    I see the issue also, but Quicken can't do much because as mentioned, Vanguard is building a defective OFX for download to Quicken. The Misc. Expense transaction should be a Buy transaction for the Cash Plus holding. Another problem is Vanguard does not report Cash Plus as a holding, but rather as available cash in Online Center.

    Vanguard is not consistent in how they report Cash Plus transactions to Quicken. Sometimes they treat it as a holding and other times as cash. It's a relatively new product so maybe they will get it right someday.

    Adding- In event you are not talking about a Cash Plus account, but rather the Cash Settlement Fund option, I can say that I tried that option a while back and dropped it because of the issues you describe. It's basically the same issue. Vanguard does not handle the cash holding consistently and builds OFX files that illuminate the inconsistency. Since treasuries pay comparable interest, the cash settlement option is not worth the trouble. On the other hand, for me, the Cash Plus account offers cash management services that outweigh the negatives associated with working around the defective OFX and holdings reporting.

This discussion has been closed.

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