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Fidelity FDRXX Cash Balance Missing - Quicken Mac

DougMcCann

For several months, Quicken Classic Mac has failed to show the cash balance (held in FDRXX money market) in my investment account. Quicken seems to aware of this issue but hasn't posted a solution or update in approx 6 weeks. That post only referred to a forthcoming Windows update. Request an update for Mac Users.

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Quicken Alyssa

Hello @DougMcCann,

Thank you for sharing your experience.

Fidelity Investments has made changes to the way it shares money market/cash transactional information with Quicken users on Mac and Windows.

We do have a Community Announcement up for this. Is this what you are referring to? If not, can you provide the post that you are referencing? The more information you can provide about this issue, the better.

There was an issue with some Fidelity accounts not allowing customers to reset cash representation that was addressed in a recent release. [CTP-14825] That issue was Quicken Windows-specific, as we did not see the same thing happening in Quicken for Mac.

Looking forward to your response!

DougMcCann

I am a Quicken Classic Mac user. When I reconcile my Fidelity account, Quicken says my Online Cash Balance is zero. Meanwhile my Quicken Mac register shows an actual cash balance that matches what Fidelity shows when I log into my Fidelity account. This discrepancy began 2-3 months ago.

Fidelity invests my cash in their FDRXX money market fund. I have tried manually "buying" FDRXX shares to zero out my register's cash balance so that my account reconciles. However, I have to do this every time I receive a new cash dividend.

Bottom line, Quicken Mac can not reconcile the cash in my Fidelity account because it says I have an Online Cash Balance of zero; nor does it show my cash invested in FDRXX.

richakaye

Echoing Doug McCann's comments. This has been broken since the change was made to the Fidelity connection method back in ~September.

Jon

@DougMcCann What you're describing sounds like what I'm seeing as far as downloaded transactions go. Whatever the core position in my account is, that's what the cash balance in the register matches and there's no asset listed for that in the portfolio, it's just Cash.

I'm fine with that behavior in my CMA but prefer to have a zero balance in my other accounts so I add transactions as needed to move money in & out of the core position. Fortunately those accounts are all pretty low activity so it isn't much of a burden.

I don't reconcile to the online balance, I download monthly statements from Fidelity & reconcile to those. It only takes a minute or so per account to reconcile the cash balance and then verify the number of shares of each asset.

nothear2talk

I have the same problem as everyone else - Quicken Mac does not download my FDRXX money market assets and reports my cash balance as zero. I am therefore unable to reconcile my brokerage accounts. This has been going on for a long time and is extremely annoying.

It seems that Quicken is rolling out a fix for the Windows app but I haven’t seen anything that indicates that they are doing the same for the Mac app.

cmcanter

Same issue here for the past several months. For such basic functionality (reconciling a checkbook), this is taking a ridiculous amount of time for Quicken and Fidelity to resolve. With the price increases to the product this is really unacceptable service.

jacobs

this is taking a ridiculous amount of time for Quicken and Fidelity to resolve. With the price increases to the product this is really unacceptable service.

@cmcanter I understand your frustration. But Quicken can only fix what they control, and if this issue requires Fidelity to make changes — as most of the various Fidelity issues since they switched connectivity methods have — then Quicken is at the mercy of Fidelity's IT department to make the fixe(es) needed. While this is very important for Fidelity customers who use Quicken, quicken users are a tiny percentage of Fiedlity's customer base, and issues working with Quicken (and/or other third-party aggregators) are often relegated to lower priority tasks on Fidelity's agenda. I know of an unrelated instance where a coding issue with a different major brokerage company was the fault of the financial institution, but they told the Quicken Mac team that they had scheduled it to be fixed three months down the road because of higher-priority tasks.

Again, I absolutely understand why this is a pain; I'm just explaining why what we pay to Quicken doesn't mean they can control problems created by and needing to be fixed by financial institutions. Oh, and Quicken will never throw the financial institution under the bus and say "it's completely XYZ's fault! Those guys still haven't fixed what they broke." Why? Because Quicken is at their mercy and has no leverage. A financial institution could decide that if Quicken is too much of a pain for them, they could just drop support for Quicken entirely.

barryi

FDRXX balance in Brokerage and IRA Accounts: completely gone!

In the brokerage account there was an automatic payment out the account. Quicken shows a negative cash balance equal to the amount of the payment and no entry at all for FDRXX where the payment came out of and there is still a substantial balance.

I have three IRA accounts that hold cash in FDRXX. FDRXX in all accounts: GONE! Just not there. No transactions took place, they are just totally missing after multiple syncs. ?????,

I've been using Quicken since the 90s and now I can't trust cash balances?! I know this could be a joint problem with Fidelity and Quicken but how does it take so long to fix for such a major issue. I work around by doing dummy transactions, but what's going on?

I'm on a Mac. Problem filed. I read the Digest.

gasmanjoe

Same here. FRDXX account disappeared last Fall then reappeared early this year, then poof, gone again this morning….

Bill Krauss

same here. Any fund ending in “xx” is a money market fund. QuickenMac should treat this as cash when computing cash balances like any brokerage.

Quicken Alyssa

Hello All,

Thank you for adding to this discussion.

As stated in the announcement linked above, these Money Market securities should have disappeared automatically and been set to cash. If your cash balance was incorrect, you would have reconciled it with the online balance and entered an adjustment to correct it.

If these are not working as intended, you should contact Quicken Support directly to report the issues you are seeing. They can review your log files and process an escalation if needed.

Thanks again!