Fidelity Cut-over "Establish Cash Balance" entry does not add amount to the cash (banking) acct

Killer Bee
Killer Bee Quicken Windows Subscription Member ✭✭
edited November 1 in Errors and Troubleshooting (Windows)

I opted to treat my Fidelity cash-equivalent MMFs as cash in my Fidelity cash (banking) account. Fidelity created a "Establish Cash Balance" by creating a Placeholder entry in the investment account to remove the MMF shares from the investment account. This side of the entry is OK. At the same time Quicken entered a "Establish Cash Balance" entry in the cash (banking) account for a deposit to the cash account equal to the value of the shares. The problem is that the entry to the cash account was categorized as a transfer to the same cash account which zeroed out the entry. So the investment account no longer includes the MMF shares, but the cash account does not include the cash. I don't see a way to correct the "Establish Cash Balance" entry in the cash account. How can I fix the "Establish Cash Balance" entry in the cash account?

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    If this is a taxable account, why didn't you simply use the "Show cash in a checking account" feature that available by clicking TOOLS, Account List and EDIT adjacent to the account, then checking that "Show Cash …" box?

    SO, take a backup, just in case, undo what you did to create the banking account (including deleting the account that you created) and use "Show Cash … "

    Q will then automatically move any cash transactions from the investment account to the pseudo-checking account that it will create.

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

  • Killer Bee
    Killer Bee Quicken Windows Subscription Member ✭✭

    Thank you for your response. The Fidelity is a long established account, and I have been showing the cash in a checking account for years. What Fidelity did during the cut-over was to create an entry in the investment account to remove the MMF shares and then created an entry in the checking account to increase the cash balance by the value of the shares. Both entries were labeled by Quicken as "Establish Cash Balance". The problem is that the amount removed from the investment account is correct but the amount added to the checking account is blank. I cannot edit the checking account entry to change the amount. I think I'll have to make my own adjusting entry during my reconciliation to correct the balance in the checking account.

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