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Questions on Mac Quicken 9.1.1

Bob.

NEW Added ETF as a distinct security type in Quicken, so ETFs no longer have to be treated as Stock securities

I have many ETF's. How do I choose which setting ? Right now set to "Stock"

I also know that when dividends come in they come in as dividend for my money market funds and should come in as "Reinvest Dividend". Where does that get changed now? Currently set to "Mutual Fund".

FIXED Downloaded transactions are now categorized as expected when Automatically improve the quality of downloaded payee names and categories is enabled, even when Sync is disabled

Where is this setting?

Thanks.

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John_in_NC

Regarding changing ETFs: Navigate to Window:Securities. Double click on the security that should be an ETF and change the popup from Stock to ETF. Repeat for each ETF.

There is no setting you can change regarding dividend reinvests-that is how your financial institution presents them. If it shows as a Dividend and a subsequent Buy, that is doing the same thing, albeit in two transactions. I would leave it be. If it doesn't have the subsequent buy, you would have to add one and complain to the holder of this MMF.

The "Improve Quality. . . " Setting is located under Quicken:Settings:Connected Settings. If that preference is selected, (and you want that", then you needn't do anything. This "fix" only applied to people who had mobile sync disabled. Now, that preference occurs regardless of your syncing preferences.

jacobs

I have many ETF's. How do I choose which setting ? Right now set to "Stock"

In the Security window, double-click each of your ETF holdings and change the Type from Stock or Mutual Fund to ETF. There is no way to do this in a mass action; fortunately, it only needs to be done once.

There is no significant functional difference this makes. In the Portfolio view, if you set your filter to view By Type, you'll now see your ETFs separately from your Stocks or Mutual Funds.

I also know that when dividends come in they come in as dividend for my money market funds and should come in as "Reinvest Dividend". Where does that get changed now? Currently set to "Mutual Fund".

I'm not sure I understand your question. How dividends are reported depends on what the financial institution reports. Some send Reinvest Dividend transactions, and some send Dividend followed by Buy as two separate transactions. Nothing has changed. There is no difference between such reinvested dividends for stocks, mutual funds, ETFs or money market funds, except where money market funds are being treated as cash by Quicken. (The developers have indicated users will gain control over how money market funds are tracked, perhaps in the next update.)

FIXED Downloaded transactions are now categorized as expected when Automatically improve the quality of downloaded payee names and categories is enabled, even when Sync is disabled

Where is this setting?

The "Automatically improve the quality of downloaded payee names and categories" checkbox is in Settings > Connected Services.

It's not a new setting; the latest update just fixes the way it works. For a while, unchecking the "Automatically improve the quality of downloaded payee names and categories" box was broken, such that it actually did not turn off automatic renaming and categorization. Then it was fixed — but the fix required Sync to be turned on (which many users don't want to do). This update makes the "Automatically improve the quality of downloaded payee names and categories" checkbox function as intended, whether Sync is on or off.

(Sorry for the duplicate information; I was typing while Jonh posted his similar but more succinct answer above.)

Bob.

Thanks @John_in_NC but what does changing to ETF actually DO for me?

And no on the other. I have to change the money market funds from divided to reinvest to have my cash balances match. Know issue supposed to be fixed in this release if I recall. There was mention about it from the mods.

Go it on the Improve Quality.

Bob.

@jacobs

There is no significant functional difference this makes. In the
Portfolio view, if you set your filter to view By Type, you'll now see
your ETFs separately from your Stocks or Mutual Funds.

That's it??? Not worth it for me I would think. Thanks.

I'm not sure I understand your question. How dividends are reported
depends on what the financial institution reports. Some send Reinvest
Dividend transactions, and some send Dividend followed by Buy as two
separate transactions. Nothing has changed. There is no difference
between such reinvested dividends for stocks, mutual funds, ETFs or
money market funds, except where money market funds are being treated as
cash by Quicken. (The developers have indicated users will gain control
over how money market funds are tracked, perhaps in the next update.)

There have been discussions and posts by mods here. Dividends in money Market accounts come in as dividends and throw off the sweep account and cash balances. I have to manually change to Reinvest dividend, maybe even a buy - I forget, then the MM account, SPAXX sweep etc all are in sync with Fidelity. I though that was changing in this release.

If I really need to, I can find the posts where Someone here gave t=me the temporary solution. Maybe from @Boatnmaniac

Thanks.

John_in_NC

@jacobs and I both question what the changing to ETF really accomplishes outside of making you feel better that it is displayed correctly.

The transaction type "Reinvest Dividend" is nothing more than a Dividend and Buy transaction combined into one. If you are only getting the dividend (and your cash balance (versus the #of shares of the MMF) goes up), then this is on your brokerage and not Quicken.

The discussion regarding cash balances and MMFs you might be seeing are likely a different issue. There were a few brokerages that displayed the MMFs as cash and hid all the investment transactions. Now they are not, and Quicken is trying to find the best way to handle this. But, a missing buy transaction sounds like a different issue.

jacobs

what does changing to ETF actually DO for me?

Very little. If you view your Portfolio by security type, then your ETFs are now separated out. I'm not sure if it accomplishes anything more than that.

I have to change the money market funds from divided to reinvest to have my cash balances match. Know issue supposed to be fixed in this release if I recall. There was mention about it from the mods.

It was not for this release; I believe there was a mention that it was being targeted for the next (August) release… although development of new features sometimes slip, which is why they so rarely give a clue about what's coming when.

Bob.

I am not missing a buy. I have to find this. KNOWN issue at least with Fidelity that I HAVE to change it for cash to balance. Totals are right, but not accounts. I am not explaining it well enough.

August release will work. I'll continue to manually adjust until then.

Thanks again.

Bob.

Too tired to find it/ Trust me It comes in as a dividend and a buy. I have to change it to REINV or Spaxx is short and FDZxx (I think) is overstated. Or vice versa. Point is, I need to edit or both MM accounts in the brokerage are off by the same amount. It "might" be change Dividend to REINV and delete the BUY.

John_in_NC

@Bob. After you get some rest and are ready to reexamine this, I would like you to take a look at a few things:

(While I have an account with Fidelity, I don't hold any MMFs in it to confirm.)

What I suspect is going on, and I could be wrong, is that you are getting the Dividend transx, but no Buy.

What you think is the (elusive) Buy is really a placeholder transaction at the very beginning of the register that makes your final share balance of your respective MMFs correct, albeit with a messed up running balance.

Changing this Dividend to a reinvest (with a price of $1/share) fixes things, and makes the placeholder change/running balance correct.

Is that roughly what you are seeing?

Bob.

No John. Not a placeholder. Not at the beginning.

I have FZCXX and SPAXX. Both earn "interest".

When the "interest" comes in for SPAXX, the sweep, core cash account, it correctly enters as a dividend. All good.

When it comes in to FZCXX it comes in incorrectly as a Buy and a Dividend. This debits SPAXX incorrectly and adds that difference to FXCXX.

I change the Dividend to REINV and DELETE the BUY and all is in sync with Fidelity account balances.

No guessing. That is what happens unless I am tired and missed something. Seems exactly what I have to do every months since the month I opened the FZCXX account and first saw this problem as CASH being much too low, and then ironically (:)) by the same amount the MM was too high. Some mods and some users can confirm this and are aware.

You have to have TWO or MORE Money Markets for this to happen in the same brokerage account.

I can't do any more on this. Someone else who knows the issue will have to pick it up if I have not explained well enough this time.

John_in_NC

Thanks for the detail, @Bob. It's sometimes hard to figure things out when you can't see things like you can.

As discussed before, a "Reinvest" is nothing more than a Dividend and Buy transaction combined. Either methods work.

But from what you describe, you are getting a dividend from FZCXX, but the resulting Buy for it (to reinvest) ends up as SPAXX. So, you have to change the Dividend of the former to Reinvest so it forces it as a buy of FZXXX. Is this correct?

Out of curiosity, is the downloaded Buy that you must delete actually for SPAXX? (Technically, if SPAXX is the "core" fund, then you (could) see a buy/sell for those temporary transitions, and another buy for FZCXX-usually that is hidden behind the scenes.

If so, I suggest you Help:Report a Problem to submit logs so the devs have clear proof that something is wrong when multiple MMFs are held in the same account. This is slightly different than the cash balance versus showing as funds issues other people are having.

Bob.

They are aware of it. Its on the fix list and it is not as you are interpreting. Appreciate the interest. But i am burned out trying to explain in words.