Fidelity Brokerage Negative Cash Balance

BOB139
BOB139 Member ✭✭✭
My Fidelity Brokerage shows negative cash balance.

I don't keep any cash in this account, only stocks.

How can I zero the cash balance?

This seems to be related to the settlement fund.

Best Answer

Answers

  • Sherlock
    Sherlock Member ✭✭✭✭
    It's simple enough to zero a cash balance but the question is why is there a negative cash balance?  Settlement funds may be handled as cash or as a market mutual fund holding.  An unexpected negative cash balance implies a withdrawal or share purchase without a corresponding deposit or sale of shares.

    If the negative cash balance is due to a Revenue Credit to a 401k used to purchase shares, you may want to consider entering a deposit transaction.  The other option is to replace the relevant Bought transactions with Added transactions.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Are you deleting some or all of those downloaded money market transactions? That would account for your negative cash balance. 
    QWin Premier subscription
  • Sherlock
    Sherlock Member ✭✭✭✭
    BOB139 said:
    Also I just login to Fidelity.com and look under my account history for the past 90 days.

    It shows 0 sale or purchase of the Money Market.

    It only shows 3 transaction for a 5 cent, 8 cent, and 6 cent dividend from the Money Market.

    Quicken actually seems to agree with this. How can I track down the negative balance and get it zeroed out? I also have a checking account with this issue, balance in Quicken doesn't agree with bank even though its linked for online downloads.
    To track down the source of the discrepancy, I suggest reconciling the account against the appropriate statements obtained from the financial institution.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    What year, version, and build of Quicken are you running? Go to Help > About Quicken for this info.

    The process to bring thing into balance may be different depending on your version.
    QWin Premier subscription
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited June 2019
    If there's no cash in the account, where is Fidelity getting the cash for your purchase transactions?  What's it doing with the cash from any sales?
    And, can you give us a description of this "phantom transaction"?  What's in the Payee name, the memo field, the amount, etc.
    Lastly, "latest version" isn't a sufficient answer to Jim's  question.  Please do HELP, About Quicken as requested.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    The payroll transaction is, presumably, a transfer into your Fido account.  What's the Moneyline transaction on the same date?  A deposit or a withdrawal?
    What happens to that payroll deposit?  Is in going into the Govt MMF or the FDIC insured account?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Moneyline is ALSO used to transfer money OUT OF Fidelity accounts.  Thus my prior question.
    AND, besides being a SuperUser here, I'm also a 30+ year customer of Fidelity and my accounts are located in Fidelity's "Private Client Group".
    SO, please answer directly and simply the questions that you are asked ... and don't pontificate

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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