Fidelity FDRXX - Placeholder, ReinvDiv, XIn, XOut, Bought, Sold transactions

Ray

Ever since Quicken changed from DC to EWC+ around August 2025, Fidelity downloads have contained incorrect transactions. I have two accounts using FDRXX for cash representation. With difficulty, I was able to reconcile the cash balances each month in both accounts. In February, it got a little worse.

In March, Quicken wasn't even close to matching the cash balance in Fidelity's statement. Fidelity’s website had nearly 100 transactions in my account for March. Quicken has 74 because it combines Div and ReInvest into a single ReinvDiv transaction. For the first time, it had 7 placeholders, 3 XIn, 3 XOut, 4 Bought, and 3 Sold for FDRXX.

I opened the reconciliation panel, cleared all checkmarks, then checked each transaction in Fidelity's March statement. When finished, the Difference in the reconciliation panel was off by the amount of the FDRXX dividend, $12.92. As the 20 transactions weren’t in the statement, they remained unchecked. The screenshot shows the checkmarks.

The statement cash balance was $5,527.36. BUT, Quickens register was $-12.92. I downloaded the register to a spreadsheet. I added a column next to the balance with a formula to compute the running balance by adding each transaction's amount to the preceding balance. When I deleted the amount from each of the 20 unreconciled transactions, the register balance returned to $5,527.36 less $12.92. The 20 transactions needed to be deleted.

In Quicken I deleted all the placeholders. Then, deleted all of the unreconciled transactions. The final balance was short by the dividend. Reinvesting the FDRXX divided into itself should increase the cash balance but it doesn’t. I changed the dividend from ReinvDiv to Div, which is how it was downloaded until February. Now, the balance is correct.

Quicken Cash Representation algorithm is bizarre. Why is it creating these 20 transactions? They are appearing this month too. After 8 months, I'd expect everything to work correctly. My Schwab account still has problems with cash representation after 8 years.

Caution: Make sure you back up your data file before deleting. One time, deleting became whack-a-mole with new Placeholder, Xin, and/or XOut transactions appearing elsewhere. That’s why I deleted all placeholders before starting this last time.

Reference Quicken support ticket number 1234861.

NotACPA

To have that many buy transactions in such a short period suggests that you have a financial manager whose running the account. Is that the case?

If so, I'd suggest that you turn OFF Complex tracking and turn ON Simple tracking in the account, so that only the positions and quantities show … and not all of the transactions.

BTW, I'm having no problems with downloading from Fidelity into 7 accounts, 6 days a week … and my Q accounts always reconcile easily to Fidelity. But then I have but a few transactions a month, except in my MMF, which is shown in Q via the "Show cash in a checking account" option. The MMF is my main checking account.

Ray

Thanks for the suggestion. I do have an account manager. I plan to talk with him to reducing the number of securities and trades.

Fidelity was ok until Quicken switched from DC to EWC+. Since then, Quicken can't make Fidelity's or Schwab's cash representation work correctly. Frankly, I don't see why it's so difficult. Their latest approach is to add these correcting transactions. If you study the screenshot, you'll see they are nonsense.

As I understand it, Simple tracking downloads the value of each security in the portfolio plus cash. It should reconcile easily (unless there are trades that haven't cleared by the statement date). Once I start simple tracking, there are no trade details, so there's missing tax information. Switching back would require placeholder or manually entering all the trade details. Reconciliation would be horrible!

I've been using Quicken for years without these investment issues. I'm holding out for them to fix them.