Fidelity accounts - I do not see the Cash Representation option
Answers
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@Quicken Anja , I followed the above steps exactly as stated, and unfortunately, I saw no change in the reported problem. The 3 accounts that are missing a Cash Representation button still have no button.
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@Quicken Anja I am running QWin R64.30. One of my Fidelity accounts (an HSA account) does not have a Cash Representation button when I click on Cash at the bottom right of the Transaction List or when I click on the gear at the top right and select Update cash balance. There is no Reset cash representation link on the Account details Online Services page. The cash is shown as shares of FDRXX and the account's cash balance is zero.
I went through the steps above exactly as you described but there is still no Cash Representation button; the cash is still shown as shares in FDRXX.
Please pass on the the escalation team that for me at least the procedure you describe does not work.
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@pablomiller & @Jim_Harman Thank you both for confirming.
I will pass this along internally.
Thank you!
-Quicken Anja
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I accepted the update to Quicken Classic Premier R64.35 this morning. While there is no Cash Representation button in the affected accounts, I've maintained a correct cash balance by not accepting the ReinvDiv transaction that was downloaded at the end of September, and replacing it with my own hand-entered Div transaction.
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Following the instructions above to the letter, it didn't work
- Quicken user since 1992 (back in the good old DOS Version days)
- I don't use Cloud Sync, Mobile & Web, Bill Pay/Mgr, Budgeting, Tax Planner
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I did the 4 steps above but this did not work for me. When I click on the cash balance amount in lower right, Quicken is still reporting a balance mismatch between the Quicken Balance and the online balance. And I still do not have a Cash Representation button for this account. It is an IRA with FDRXX. I have three other accounts with SPAXX and they all work correctly and have the Cash Representation button. FWIW I had already downloaded transactions so there was nothing to download. But the download was successful.
One thing I kinda remember when this was change was forced upon me a few weeks ago is that at some point I got a popup for Cash Representation. I don't recall if I got it 4 times or just once - nor what account it was for. It seemed like an odd thing when it happened. I am on R64.35 Build 27.1.64.35
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I think the issue may be with any core fund except SPAXX.
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Not expecting a quick fix here. Has anyone gone into their Fidelity Account and Changed Core Position from FDRXX to SPAXX? If so, did it solve this problem?
[How to change Core Position: Go to Positions tab, click the Cash position line for the affected account to expand the line, click green button to Change Core Position]
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I'm not willing to give up the extra 0.04% by switching 😄
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Unlikely, but … I'd be very surprised if anything within the Quicken software would be responsive to the selected Core Position within a user's Fidelity account(s) in terms of suddenly causing a missing Cash Representation button to appear. That said, I just switched from FDRXX to SPAXX on one of my "trouble" accounts (which happens to have near zero cash). I will report back if something surprising results !
FWIW, some comment on my own personal choices of core positions … I had not changed my core positions recently, until the one just above. I typically select whichever provides the highest current yield, though the differences among the top 2 choices for a given account type are not materially different. For me, I use the core position as short term parking for trading funds, or bill paying funds, depending on the account type. If I want to park cash longer term, I'm using something that pays materially better than the core offerings.
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I have changed my core position in all accounts where possible to SPAXX and that solved the problem for me!! Unfortunately my three accounts with the largest number of monthly transactions only allow FDRXX as the core position. I have confirmed this with multiple sources at Fidelity.
I still wonder why Fidelity and Quicken have this working with SPAXX but they can't handle FDRXX (or whatever core fund I choose) the same way they handle SPAXX.
One additional note that I have mentioned before - I had one account they used the "FDIC-Insured Deposit Sweep" for the core position. This also worked fine for me, just like SPAXX. So there are at least two core position options that work fine. Hopefully they are close to getting this working.
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Solved It, with a Caveat - I made a change of the Core Position from FDRXX to SPAXX in one of my accounts where I have a miniscule amount of cash. The result after OSU was to spawn a "Cash Representation" dialog, which appeared to be the same as I'd seen for other accounts (which already had SPAXX as the core) when the transition to EWC+ occurred for me weeks ago. See the graphics below. It looked OK until I saw the transaction where it sold FDRXX (Fidelity Cash Reserves) as part of the core switch. Since this $0.87 was actually core cash in and not a tradeable position in FDRXX, accepting that transaction would have created a negative position in Quicken in that amount, which is not correct. I deleted that downloaded transaction rather than accepting it. With that caveat, going through this dialog did result in the appearance of the Cash Representation button. Now being as curious as @bruce12 , I intend to switch back to FDRXX in the coming days and see what happens. Your guess is as good as mine as to what will happen. IMO, Quicken users should not need to second guess downloaded transactions and decide whether they are valid or not.
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@Quicken Anja I'm having the same issues described here. I tried following your instructions and I still do not see the option to reset the cash representation of my Fidelity accounts. I have numerous accounts that previously tracked cash balances as cash that are now showing reconciliation errors due to both a cash balance and a fund balance (mostly FDRXX but also SPAXX). I understand this is a known issue, but it is super frustrating.
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So as an experiment, I changed the Core Position back from SPAXX to FDRXX (to reap that extra 0.07% :), and after this morning's OSU (which also involved several trades from yesterday), everything came full circle. The Cash Representation button disappeared, and it was back to Quicken establishing a position in the Core Holding instead of representing it as cash. For the time being, until Quicken implements something that is robust to whatever the Core Position is (and not just SPAXX), I intend to delete any transaction buying or selling FDRXX so that Cash in Quicken matched Cash in Fidelity. I wonder what the behavior is if one selects the other option (FDIC in this type of account) ? I have no interest in something paying ~ half of what FDRXX pays, and don't plan to run that experiment.
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The funny thing is when Fidelity first switched to EWC+, only my account with FDRXX was doing it properly, the ones with SPAXX would not do it no matter what. After the issues earlier this month and fix, now only my account with SPAXX is doing it properly and the one with FDRXX no longer has it.
So they have the capability, they just messed something up when trying to fix another issue. So I suspect maybe we'll see something with the next update.
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@Drinkingbird & @pablomiller @Quicken Anja I have found the same issue with FDRXX vs SPAXX; but FZFXX also has the same problem for IRA accounts. I am switching every Fidelity account over to SPAXX one account per day. Once SPAXX is the CASH holding the Reset Option becomes available. This is true on 4 different Quicken files with 3 different Fidelity login/passwords.
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Sorry I swapped FDRXX (IRA's) with FZFXX (taxable)
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Yes it does appear that SPAXX is the only core holding that is currently working correctly. Since FDRXX was previously the only one working correctly (before a "fix") obviously they know about that being a core fund. I don't have any accounts with FZFXX so can't comment on that one. Hopefully they'll get it sorted at some point.
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@Drinkingbird FCASH and FDIC core holdings also work (more or less) correctly and have both the "Cash Representation" button on the "Update cash balance…" dialog and the "Reset Money Market securities/cash options" on the Online Services tab. So 3 work (FCASH, FDIC, SPAXX) and 2 don't (FDRXX & FZFXX). (I have FCASH, FDIC, SPAXX & FDRXX core accounts, so I can vouch for those from personal experience. Other people have also reported FCASH & FDIC as working correctly.)
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I have the same with SPAXX working, and FZFXX, FDRXX not having the "Cash Representation" button on the "Update cash balance…" dialog and the "Reset Money Market securities/cash options" on the Online Services tab.
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I followed the "fix" instructions previously posted by @Quicken Anja. I have three brokerage accounts. The accounts where the cash is held in SPAXX is fine. The account where the cash is held in FDRXX is still screwed up. How many people have to complain to get this fixed? The rollout of this new connection method has been a disaster. I've never had a problem with the old system.
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same issiewith Schwab swgxx account
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@Quicken Anja @Quicken Kristina @Quicken Alyssa @Quicken Janean
Any update on when the fix will be released for this long running issue between Quicken and Fidelity?
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