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Fidelity not updated with buy of premium money market fund FZDXX

qudtp

QMac has worked better than QWin for Fidelity money market funds, but I just ran into this problem:

I bought some shares of FZDXX. This is NOT one of the money market funds you can use as cash - it's a premium fund.

I maintain QWin in parallel, and it shows, properly, the purchase of the shares. I spent all my cash (which is in FDRXX money market fund), so it correctly reduced my cash position to 0 and added the right number of shares of FZDXX.

The buy transaction doesn't appear in QMac, so it shows no increase in shares of FZDXX, and no change in the cash position.

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Comments

Jon

As I understand it, that's the way it works now in QMac with Fidelity. Any Fidelity MMF is included in the cash balance regardless of whether it's the core position or not. If you want to track them as assets you have to add the buy/sell transactions manually, and at the end of the month change the Dividend Income transactions to Reinvest Dividend.

That's how it's working across my Fidelity accounts.

qudtp

I do see buys of FZDXX over the past year in many of my Fidelity accounts. (I have this MMF as an additional fund in almost all of my accounts.) I don't recall manually putting in those buys. Maybe I did it though.

There is no setting in QMac to select which MMF to use as the core/cash account, so I can see the problem - if you can't designate one, it would have to treat them all the same way, as funds or as cash. But that's not ideal.

Given how much work has been done to fix (most of) the problems in how money market funds are handled by QWin, would it be wrong to ask that this be investigated and, if necessary, fixed in QMac?

jblevy01

@qudtp This is a know issue with Quicken for Mac that started when they implemented the new connection method about 3 months ago. I have stopped using Quicken and restored my data to a date prior to the issue appearing. Quicken says they are working on the issue but they do not have an ETA for the fix. As best I can tell, it is treating all money market funds as cash and mishandling buy and sell transactions on money market funds. When I attempt to update it deletes all my FZDXX positions.

qudtp

It has never deleted mine, fortunately. I just reviewed all my accounts and it was only this one buy that was missing. It's the only one I did recently.