Problem managing cash in Fidelity account after switch to EWC+

BarryGraham

@Quicken Kristina I ended up unintentionally migrating to EWC+ by deactivating and activating Fidelity DC accounts. Therefore I was never asked to migrate, so now I have the situation where my mutual funds representing cash are not automatically updated when the cash balance changes, and I have to manually update the cash balance to zero and share balance every time cash is added.

There needs to be a way to make this happen automatically, and there also needs to be a way to track cash as cash just like we could with DC.

Quicken Kristina

Hello @BarryGraham,

Thank you for sharing your experience. The issue that you describe is one of the issues our teams are working with Fidelity to resolve. Once the issue is resolved, mutual funds representing cash should download correctly.

Thank you!

meeotch

@Quicken Kristina

I have four Fidelity accounts - two retirement, and two brokerage. All were switched to EWC+ when I was forced to re-authorize. The two retirement accounts work as they always have: Fidelity core position (FDRXX) is shown as cash, and the "Reset cash options" and "Cash Representation" buttons are available. (See pic.)

The two brokerage accounts, however, show "cash balance downloaded from Fidelity" as $0, and the core position (SPAXX) as shares. They're also missing the "Reset cash" and "Cash Representation" buttons.

So clearly, SPAXX isn't being reported as a cash/sweep fund, the way the other options are, as noted above.

(I do have all accounts' core positions set to "Deposit to Core Account" on the Fidelity end, as indicated in Step 1 here, and at various other places on this forum. And again, before EWC+, all accounts were downloading core positions as cash, not as fund shares.)

I've seen the 8/29 update, but none of the listed issues seems to be the one this thread is discussing - i.e. core positions showing up as shares instead of as cash, and Cash Representation features missing. ("$0 account balances" sounds the closest…)

Quicken Kristina

Hello @meeotch,

Thank you for sharing your experience. The issue you describe does sound similar to some of the known issues, but, as you pointed out, nothing in the alert specifically covers it. Because of this, I recommend that you contact Quicken Support directly for further assistance, since they have access to tools that we can't access on the Community and they're able to escalate the issue as needed. The Quicken Support phone number can be found through this link here. Phone support is available from 5:00 am PT to 5:00 pm PT, Monday through Friday (They are closed on Labor Day).

I apologize that I could not be of more assistance! 

BarryGraham

@Quicken Kristina it looks like most of the issues have been fixed, including cash balance. However SPAXX is still being treated as a mutual fund and it's not offering the option to display this fund as a cash balance.

leishirsute

https://community.quicken.com/discussion/comment/20509948#Comment_20509948

Glad this is mostly working for you. Unfortunately, it is not for me. Quicken has never presented a Cash Representation option for any of the accounts. I am using a test datafile and version R64.25 . However, all Fidelity accounts are downloading transactions.

@Quicken Kristina "How can I get the Cash Representation dialogue to display?"

BarryGraham

By never do you mean even with DC, or since the migration to EWC+?

leishirsute

https://community.quicken.com/discussion/comment/20510002#Comment_20510002

Both DC and EWC+ do not show those options using R64.25 on 2 test datafiles, one with DC and one with EWC+ connections.

deathrs

I have the same problem with the "reset Cash option" not available on two of my Fidelity accounts. It is available on my other accounts. This happened when I reauthorized my accounts as instructed by Quicken. I believe Kristina told me it is being worked on with Ticket CTP-14526.

vnolin11

https://community.quicken.com/discussion/comment/20511659#Comment_20511659

Same with my Cash and Brokerage accounts.

Rocket J Squirrel

https://community.quicken.com/discussion/comment/20509948#Comment_20509948

Fixed in R64.30.

BarryGraham

Actually SPAXX was fixed last week, I forgot to update here. It didn't need a software update. 64.30 fixes other issues related to cash balances, such as not identifying which account is being referred to when it tells you about a cash fund.

vnolin11

https://community.quicken.com/discussion/comment/20511659#Comment_20511659

My CMA and Brokerage account had the same issue. The "reset Cash option" reappeared today for both accounts.

Movie Nut

Just to add my two cents…. I have a theory about why it has been hard to balance Fidelity Cash in our accounts.

In recent past it would appear that I get downloads of transactions in my Quicken ROTH accounts for Dividends received (not reinvest dividends) from stock positions. BUT, it also appears that Fidelity has not posted these Cash additions to the CORE Cash account yet. So when these interest or dividend transactions come into Quicken, they automatically (and correctly) add to the CASH balance in Quicken, but then Quicken Cash is temporarily out of sync with Fidelity Cash. When I looked at Fidelity Account "Positions Tab", the Core Cash is different than the Cash balance in the Fidelity Account "Activity" Tab" where the Dividend transactions would appear with a running Cash balance.

Just looked today and the "Activity Tab" now shows the 9/25 transactions as "Processing" and these 9/25 transactions have not added to Fidelity Core cash yet and not downloaded yet. Not sure WHEN Fidelity actually syncs up today's transactions with cash balance, but it is 8:45pm PST here and not processed yet.

From Positions Tab:

From Activity Tab:

I am still on 64.29, don't know what will happen on 64.30.

On my other ROTH account when I select the Cash balance I get the image below. Here Fidelity is reporting both my Core Cash (9678.42) and an actual amount ($5061.17) that is held in FDRXX and displayed as such in Fidelity and Quicken.

It's 9pm PST (which answers one of my questions as to when the current day transactions are processed) and here are the new screen shots:

This shows the out of balance situation….Soooo not sure when Fidelity actually updates the CORE Cash in the "Positions Tab"

Just took this screen shot of the "Balances Tab" at 9:20pm PST (12:20am EST)

By 10:21pm PST the Core position is updated:

Movie Nut

All my downloads were working, but now I am prompted to reauthorize and it FAILS!

ARGH!

leishirsute

https://community.quicken.com/discussion/comment/20512174#Comment_20512174

Please reference

https://community.quicken.com/discussion/comment/20512082#Comment_20512082

as the resolution that worked for me.

Movie Nut

Thanks, I tried that and went thru the process of matching up Fidelity with my existing Quicken accounts. All seemed to work. But when I did the next OSU, I received CC-901 error and prompted again to reauthorize Fidelity accounts.

leishirsute

https://community.quicken.com/discussion/comment/20512190#Comment_20512190

Sorry. EWC+ for Fidelity is proving to be unpredictable and unreliable.

Longhorn90

I am on the newest version of Quicken (R64.30) and have investment accounts at Fidelity. My connection method update (DC → EWC+) was triggered last week, and I have had several issues since. The biggest issue is the one several mentioned above where the Cash Position (Quicken) and the MMF Position (Fidelity) are not synced, and I get a Securities Comparison Mismatch on 9 of my 11 Fidelity Investment account. The 2 that work and show the 'Cash Representation" button both have SPAXX sweep accounts. The 9 that do not work are using FZFXX and FDRXX. The ones not working do not show the 'Cash Representation' option button. I have gone through several OSU cycles over the last week and have never received the message to choose a Cash Representation option. This is getting extremely frustrating.

pablomiller

https://community.quicken.com/discussion/comment/20513280#Comment_20513280

I have exactly the same issue … Cash not being Represented correctly, Dividends on Core Cash trying to be uploaded as Reinvestments in a Position rather than simply adding as a Dividend to Core Cash … and the "fix it" Cash Representation button is completely missing in action, so there is no apparent way to correct it. I've tried Account Resetting, and Account Deactivation and Reactivation, to no avail. In one small way, I am more fortunate than @Longhorn90 as I'm only seeing this on 1 of my 15 Fidelity accounts. I guess 14 out of 15 ain't bad 😆

pablomiller

Beside the missing Cash Representation buttons on 3 of my 15 Fidelity accounts, the most recent end of month dividends to the Core / Sweep / Cash balances came across into Quicken as ReinvDiv (in a position) rather than what should have been Div to Cash transactions. I took care of that by deleting the ReinvDiv's and hand-entering Div transactions to make the Cash come out correct and not establish fictitious security positions. It's been a while since I looked at the Manage Dividends view in Fidelity's website. When I examined that, I was surprised to see Dividends and Capital Gains for the Core Cash Fund set for Reinvest rather than Pay to cash. I don't know if this is a new option in their accounts and it defaulted to Reinvest. Anyway, I'm setting the Core Funds to Pay to Cash, and leaving everything else to Reinvest. I'll have to wait until the end of October to see if this resolves the undesired "ReinvDiv to Core" issue. Note I have some other, non-core Cash Mutual Funds, beside the Core Cash Balance Fund. An example of one account is shown here (Core is FDRXX, Other is FZDXX):