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Random errors in cash amounts for Fidelity money market funds in investment accounts

shtevie

I have 7 Fidelity accounts: One brokerage account and 6 various IRAs. I finally bit the bullet and used the new utility to tell Quicken to treat my money market accounts as cash so I would no longer get alerts from Quicken telling me that there was a discrepancy with my amounts and Fidelity's amounts.

Four of the Fidelity accounts handled it fine, but three changed the amount listed as cash by a lot. My accounts go back years, and there was no way I could figure out how to correct it, so I restored to my last backup (which then took almost an hour as I was forced to re-authorize all of my many bank and credit accounts for OSU transaction download. This is another problem that needs to be addressed BTW).

In any event, my question is: is there any way this Fidelity money market-cash problem will ever be totally fixed, or should I give up trying to get this to work and just ignore messages from Quicken regarding the discrepancies? I don't have time to keep experimenting.

[Edited - Readability]

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Comments

Quicken Kristina

Hello @shtevie,

Thank you for sharing your experience! The issue should be corrected for most holdings. To help troubleshoot, please provide more information. Which holdings were you trying to track as cash? Which option(s) did you select when designating those holdings? In what way did the cash balance change (too high, too low, off by the amount of the security, etc.)?

I look forward to your reply!

shtevie

Hi Kristina,

All of the funds were Fidelity SPAXX. I can no longer tell you the exact amount since I restored the file back to a previous saved version, but of the six retirement accounts, three were fine and the three that with errors had cash amounts of over $100 in excess of the correct amount. The non-retirement brokerage account had no error and in fact has the correct quicken setting in the utility to convert the money market into cash amount. Those six retirement accounts were not set up with the quicken utility for conversion. What I attempted to do was to use the utility to have my money market funds converted to cash amounts. FYI, what I'm currently doing to obtain the correct cash amount in those accounts is just re-editing the dividend transactions and changing the dividend to income transactions which gives me the correct cash amount, if that makes any sense.

shtevie

Hi Kristina,

Was my additional information useful to you?

Quicken Kristina

Thank you for your replies,

I'd expect that it should let you set SPAXX as a core fund to track as cash. Do the problem accounts have multiple core funds? What options was it giving you when you tried to set your preference?

Thank you!

shtevie

Kristina,

No multiple core funds. All accounts have SPAXX only.

I seem to remember 3 options. Treat as cash, treat as security, can't remember the third. I chose treat as cash and selected SPAXX from a drop down box but it was the only money market fund listed.

I don't want to go through the hassle of restoring from a back up and having to re authorize all of my accounts again. Should I make a file copy with a different name loading only the Fidelity investment accounts and run on another computer as a test to see if it works?

[Edited - Readability]

Quicken Kristina

Thank you for your reply,

Should I make a file copy with a different name loading only the Fidelity investment accounts and run on another computer as a test to see if it works?

That sounds like a reasonable plan.

Please let me know how it goes!