Morgan Stanley cash account duplicated

I wanted to get a Morgan Stanley investment account into Quicken, so I added an account, selected "Morgan Stanley Cash Management", and gave it the login information. It added a checking account and successfully synced the balance and downloaded a bunch of transactions.

However, it didn't download any of the securities.

So I manually created an offline Brokerage account in Quicken, and then changed the online options to sync with "Morgan Stanley Wealth Management". (I wasn't sure which to use: "Cash" or "Wealth" Management since I didn't see either term on Morgan Stanley's web interface).

This worked and it downloaded all the securities.

However, the cash balance is now duplicated - as it shows in both the Banking account and the Investment account.

Is there a way to remedy this? I can delete the checking account in the Banking section, but then I'd lose all the detail transactions (which don't seem to appear anywhere in the Investment section).

Thanks.

Best Answer

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited February 27 Answer ✓
    Before proceeding, back up your data file.  Then:
    1. Checking account register > upper right gear icon > Edit Account Details > Delete Account > Yes > OK.
    2. Brokerage account register > upper right gear icon > Edit Account Details > General tab > tic "Yes" for "Show cash in a checking account" > OK.  This will set up a separate linked checking account that will be shown in the Banking group.  Quicken will automatically move all cash related transactions and balances, both current and future, into and out of that checking account going forward.  The Brokerage account will retain all the securities and securities transactions.
    If you don't want the separate linked checking account then don't do step 2.  But if you are planning to use it as a Cash Management Account, doing step 2 can make it a lot easier for you to review and manage.
    (QW Premier Subscription: R41.10 on Windows 10)

Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited February 27 Answer ✓
    Before proceeding, back up your data file.  Then:
    1. Checking account register > upper right gear icon > Edit Account Details > Delete Account > Yes > OK.
    2. Brokerage account register > upper right gear icon > Edit Account Details > General tab > tic "Yes" for "Show cash in a checking account" > OK.  This will set up a separate linked checking account that will be shown in the Banking group.  Quicken will automatically move all cash related transactions and balances, both current and future, into and out of that checking account going forward.  The Brokerage account will retain all the securities and securities transactions.
    If you don't want the separate linked checking account then don't do step 2.  But if you are planning to use it as a Cash Management Account, doing step 2 can make it a lot easier for you to review and manage.
    (QW Premier Subscription: R41.10 on Windows 10)
  • jdseymour
    jdseymour Member
    Perfect! That did the trick - and I didn't even lose the detail transactions in the process.
    Thanks!
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    jdseymour said:
    Perfect! That did the trick - and I didn't even lose the detail transactions in the process.
    Thanks!
    You are very welcome!  Have a great day!
    (QW Premier Subscription: R41.10 on Windows 10)
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