Issues with Money Market and Cash in Fidelity Investment Accounts

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This discussion was created from comments split from:

Issues with FZDXX Money Market and Cash in Fidelity Investment Accounts

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Toolworker

There is something wrong in my working QDF file that again is incorrectly characterizing core MMF transactions as a security, for some but not all of the accounts. The problem resurfaced in early March.

I say it's in the QDF file because a clean test.qdf file generated yesterday for one of the accounts is properly handling the core transactions, including new ones today (4/1).

The core MMFs are SPAXX, FDRXX and CASH. I'm running R66.28 on Windows 11.

I did a Validate yesterday on the working QDF, but it didn't help. Today's update included two new dividends that correctly went to the cash balance in the test file. In the working file there was a Buy CASH transaction.

I will now go delete some three dozen bogus core MMF transactions and hope this gets fixed (again) promptly.

Quicken Laura

Hi @Toolworker,

Thank you for reaching out and for detailing the steps you’ve already taken; that’s very helpful.

Since this behavior is not occurring across all of your accounts, it may indicate that the cash is configured differently in the affected account. I recommend comparing the cash settings with a working account and updating the problematic one accordingly (make sure to save a backup first):

Please follow these steps:

1. Open the affected account
2. Click the Gear icon
3. Select Update Cash Balance
4. Click Cash Representation (located at the bottom left)
5. Adjust how Quicken manages the cash information

Once completed, update the account again.

Please let me know how it goes!

Toolworker

Thanks for your reply, @Quicken Laura.

The Update Cash Balance in all but one of the accounts does not show the Cash Representation button.

The account that does show the Cash Representation says correctly that SPAXX is the cash account.

That account, like the others, was handling cash transactions correctly through February. However at the end of March it treated the SPAXX dividend as ReinvDiv; it should have been Div as before.

Note that the 1/30 and 2/27 dividends from SPAXX were properly shown as additions to the cash balance. But on 3/31 - after the issue reappeared mid-March - Quicken shows it as a ReinvDiv, treating SPAXX as a security.

I don't know if this is a clue or noise, but I'll report it. When I did the validate - which didn't help - the error log showed (only) two transactions that were incorrectly categorized:

In the second account (which has a linked cash account), there was only one such core account transaction. However, in the first account, the Bought CASH on 3/10 was the first transaction to treat CASH as a security. But there were 8 more such transactions after that in that account. In fact, 3/10 was the first date for bogus security transactions in CASH or SPAXX in any account.

Those transactions might have poisoned the well, so to speak, for core fund transactions. However, in three other accounts the core account was changed on 3/3 from SPAXX to FDRXX, and subsequent transactions in FDRXX were treated as a security.

Toolworker

Update: I rolled back to a qdata file from Feb. 23, before the bogus core security transactions started, and updated. The problem did not occur.

So - as I already determined from a one account test file the other day - there's something in the qdata file that's causing this. At some point it got the wrong idea about the core funds - probably in something sent from Fidelity. And although Fidelity's not still sending that, the flags are still in the qdata file.

Let me know if I can help track this down further. Otherwise I'll drop it and start cleaning up the debris from the rollback and update.

Quicken Laura

Hi @Toolworker,

Thank you for keeping me updated.

We did experience a connectivity issue with Fidelity around that time, which has since been resolved and may have been the cause of the behavior you encountered. Since the issue did not occur when using the backup file, I recommend updating that file and continuing to use it as your primary working file moving forward.

Please don’t hesitate to reach out if you have any additional questions!