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Issue with a mutual fund

budi

I added a mutual fund to a cash management position. It hasn't worked out the way I need and I want to move the mutual fund to a separate account. There are only 3 transactions that relate to the mutual fund. What is the best way to do this and are there any things that I should watch for?

Thanks,

Budinan

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NotACPA

What type of account is the fund currently in? And why doesn't the simple "Shares Transferred between Accounts" (on the Enter Transactions menu in the account header) work for you?

And, as always when making such changes, take a backup first.

q_lurker

see discussion here based on your prior post

https://community.quicken.com/discussion/7959000/move-mutual-fund-into-its-own-separate-account

Tom Young

It would be helpful if you'd elaborate on the problems you've encountered with the new fund. At this point we can only try to imagine what the problem is and hope that our advice happens to hit the mark.

budi

The cash management account only held "shares added" until I added the mutual fund It was the desitation account for credits received from use of a credit card.

When I added the mutual fund to that account, I was able to buy shares without any issues. Now, months and many updates later, I want to buy more shares but on the "Buy Shares " screen, I can enter the shares purchased, the price per share, and the account that the funds are coming from but the account and the security boxes are grayed out so they can't be changed. They defaulted to the cash management as the account abd the mutual fund as the security. When I enter the buy, it doesn't show the shares in the mutual fund and only shows the cash in the cash management position and nothing ot do with the sale.

I have tried every way that I can think of to work around this (I have beenusing Quicken for about 20 years) and the only solution I can come up with is to delete the mutual fund and to start over with it in an seperate account.

I hope that claifies the problem and my motivation to create a seperate account for the mutual fund

q_lurker

Thanks for the explanation. Some of what you describe would be normal, but some information seems contradictory. Is there any chance of you posting a screenshot of the account register showing the transactions? That would be very helpful to my understanding of your setup.

https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows

budi

Here is a picture of the register. The dates from 2023 are the original purchases. The item dated 11/28/24 was my attempt to buy shares this year

All of the 11/30/24 dates are from a prior attempt to buy these same shares and what prompted my plan o deleted the mutual fund from this account and start over

q_lurker

Thank you. Very helpful.

Before going to far forward a comment and a question - You appear to have chosen to have one account for each security. This account is named Fidelity Select Construction and Housing, even though all the transactions are currently Fidelity Cash Reserves. The original 6 transaction more likely were Select Construction fund. Question: Are you firmly committed to that type of account setup - 1 security per account? (It is not a setup I like or use myself. Some fund families require that setup.)

Second Question: In your security list (Ctrl-y), do you have the Fid. Select Construction and Housing Fund (ticker: FSHOX) listed as well as the Fid Cash Reserves Fund (ticker: FDRXX)?

Third Question: What fund did you think you bought in those first 6 transactions?

budi

I do have FSHOX and FDRXX in my security list.

The first 5 transactions shown are clearly shares of FSHOX as they should be. I have confirmed this in my Fidelity statements.'

The 6th entry was my attempt to buy more shares of FSHOX which has been a total fail. It looks like it added money to the cash reserves and, no, there is no way to buy shares of FSHOX with the cash in the account.

I do have other accounts that have more than one holding and I have had no issues with them. However, given the issues I have had with this account, it would be better for my mental health to treat them as two seperate accounts

q_lurker

Since your OK with multiple securities in one account, I would approach it as follows:

Make sure you have a good backup at hand
Edit the account details to say No, not a single mutual fund account.
Edit the first 5 or 6 transactions as applicable to make their security FSHOX. After changing the SMF status, the security name will no longer be grayed out when editing those transactions.

Now you have a choice:

Create a second account for the Cash Reserves transactions
1. From the Fid. Select Construction … account transaction, rt-click anywhere and choose to Move transactions
2. Follow the instructions and move the Cash Reserves transactions from that account to the newly created account. You could also move them to any other account if you already have one that would be applicable.
3. Before or after the move, delete any non-applicable transaction.
Rename the Fid. Select Construction … account to a more generic name and continue forward with both securities (and any others) in that account.
1. To edit the account name, Edit the account details and change the name. (Yes, that simple.)

budi

Thank you for the steps to make those changes. It won't be quite as simple as it appears because there are entries in the cash reserve account that date back to 2012 with multiple entries each year. The process is straight forward, just a matter of time

THe prior entries weren't apparent as the shot of the register showed only the recent entries that were problematic.

q_lurker

Then perhaps you move the 5 or 6 FSHOX transactions to the ‘new’ account, if you want separate accounts.