How to handle multiple mutual fund withdrawals into single checking deposit transaction (edit)

WoodManEXP
WoodManEXP Quicken Windows Subscription Member ✭✭
edited October 2023 in Download, Add/Update Accounts (Windows)

Advice please:

I have several mutual funds at Fidelity and periodically take distributions from multiple of the funds at the same time. Fidelity consolidates the distributions from the several funds into a single deposit into the checking account. So there are multiple withdrawals downloaded from Fidelity and a single deposit reported for checking account.

Right now the mutual funds are set as single mutual funds with a cash balance.

Is there a suggested way to record this in Quicken, so that it is possible to link the multiple withdrawals to the single checking deposit?

TY!

Best Answers

  • splasher
    splasher Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓

    What about making a single transaction in checking that is a split with a split line for each separate source as a transfer?

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • WoodManEXP
    WoodManEXP Quicken Windows Subscription Member ✭✭
    Answer ✓

    Yes, doing this as a split on the checking deposit it was able to show a transfer from each of the mutual fund accounts to the single check deposit.

    TY for the advice!

Answers

  • volvogirl
    volvogirl Quicken Windows Other SuperUser ✭✭✭✭✭

    Well you could set up a new intermediate holding account for deposits in transit and put all the cash withdrawals to it. The make one transaction in your checking account as a transfer to the holding account.

    I'm staying on Quicken 2013 Premier for Windows.

  • splasher
    splasher Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓

    What about making a single transaction in checking that is a split with a split line for each separate source as a transfer?

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • WoodManEXP
    WoodManEXP Quicken Windows Subscription Member ✭✭

    The split is an idea that came to me as well. Let me give that a go. Will reply back shortly. TY!

  • splasher
    splasher Quicken Windows Subscription SuperUser ✭✭✭✭✭
    https://community.quicken.com/discussion/comment/20384582#Comment_20384582

    You will want to do drive the split from the checking account and have it system generate the transactions (other half of the transfer) in the investment accounts and ignore/delete anything downloaded from the brokerage that might move the funds out of the accounts.

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • WoodManEXP
    WoodManEXP Quicken Windows Subscription Member ✭✭
    Answer ✓

    Yes, doing this as a split on the checking deposit it was able to show a transfer from each of the mutual fund accounts to the single check deposit.

    TY for the advice!

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