What’s Going On Between Fidelity and Quicken?

I've been keeping a DC datafile and EWC+ datafile for about 2 weeks now. So, I just need to discontinue the DC datafile, but manually updating it for 1 day so far. EWC+ has some aggravating deficiencies that require manual fixing as well.

I've been subscribed to this thread for months hoping that we would have this problem resolved and it's clearly not.

I have deactivated and re-activated the online services with Fidelity multiple times. It clearly works when doing a one step update as far as showing the green ball status completed. It NEVER brings any new transactions in.

There is nothing unique about the transactions I'm executing in my Fidelity account in fact they are very basic buy and sells and an occasional interest payment. NONE of the transactions download when Quicken connects to Fidelity and it's green every single time I do a one step update.

Because of this long standing issue, I've been manually logging into Fidelity's website, going to the transaction tab and manually entering all my transactions until Quicken finally fixes this.

What I can't believe is Quicken kept that arbitrary deadline to force everyone to EWC+ knowing full well this thread is extremely active and it's clearly still broken.

For the Quicken admins watching and commenting on this thread, we deserve regular status updates on what is tested and working and what still remains to be fixed with dates. The silence doesn't work.

For all my Fidelity accounts that use SPAXX as core, Quicken is correctly treating SPAXX as the core MMF.

The 1 IRA account using FDRXX as core is incorrectly treating FDRXX as a security.

You can determine if the core account is being treated correctly by looking at the Account's Holdings in the Quicken Online center. The core account has "(cash balance)" suffixed to its name.

For me, FDRXX does not have "cash balance" suffixed to its name and the account's Cash Balance in the register shows a value of $0.00 downloaded from Fidelity.

i have the same issue. I’m trying to backfill a couple of days that were missed by creating a brand new file and adding fidelity accounts. No errors but it pulls no transactions or cash balances. I have “tricked” it in the past by only choosing one account on fidelity’s authorization site. At this point, I’m exhausted after spending at least 10 hours deduplicating transactions. If I didn’t have so many accounts, I’d consider moving my accounts to a firm that works with Quicken

Separately, i am getting new transactions (fingers crossed) successfully for the last few days.

It is the only MMF in the account and has been the core since 2006.

From Fidelity's Reddit support site:

FidelityLiz
•
51m ago
Community Care Representative
Profile Badge for the Achievement Top 1% Commenter Top 1% Commenter

Thanks for coming by the sub to share your thoughts on the Quicken and Express Web Connect+, u/leishirsute. I'll jump in here to share some information.

Now that the Express Web Connect+ migration is complete, we've been receiving reports that clients who deactivate and reactivate their Fidelity accounts in Quicken helps to resolve the connection issues. We recommend trying that to see if your connection improves. If it doesn't improve after trying that step, we suggest contacting Quicken Support, as they can better assist with their platform and integrating accounts.

We appreciate your patience as we worked to resolve this for our customers. If you have any additional questions or comments, please let us know. We'll be around and happy to help.

https://www.reddit.com/r/fidelityinvestments/comments/1o8jaya/quicken_clients_are_forced_to_use_a_broken/

Yes, I had the option for about a week and then it disappeared and never reappeared again. Very unpredictable behavior.

See screenshot. For the account you've selected at the left, you then click on the "Compare to Portfolio" button at the right and you'll get following message if it's in agreement.

Otherwise, you get the "Securities Comparison Mismatch" error similar to the following

@Jim_Harman

"To help clarify, are all of your accounts affected by the "Dividends download as deposits" problem, or just some of them? What types of accounts are affected? Regular brokerage accounts, HSAs, IRAs, NetBenefits 401(k)s, etc.? What does Fidelity show as the "Core position" in these accounts?"

It is happening to non-IRA accounts. The core position is SPAXX.

I have only 1 account that has FDRXX as a core position. It is a Traditional IRA account. Quicken is treating it as a security instead of as the cash balance.

Edit: I don't think I have quoted the right prior comment, but can't tell. In fact I have found it impossible to link to the comment I am trying to respond to. I'm trying to respond to something @Movie Nut was writiting about. Maybe it has actually been moved somewhere else because it is off-topic.

This is still off-topic but if it's coming up here I will respond here.

Seems like you have made a simple thing sound complicated. I've been doing pretty much exactly this for years. On the IRA side, from Fidelity, 3 transactions arrive, for the net amount sent to my bank, for the federal tax withheld, and for the state withheld. All are inserted by Quicken as Withdrawals (on QWin; or as a "Payment/Deposit" on QMac), and that is that. There is virtually nothing I need to do in the retirement accounts.

On the receiving bank side, you have a category set up for the gross, and you enter a negative amount in the regular fed and state categories. That's what I do, too. Done.

That's all there is to it.

Even easier, in the bank account, I copy an existing transaction, then paste it as a new transaction, then change the date before pressing Enter. Then I go in and change the gross, and the withholding, if I need to, and click the adjust button so that the overall total matches the total of the split lines if I have changed them.

The process takes 30 seconds.

I question your subcategory of RMD. Maybe you will never have to withdraw more than your RMD, but if you do, your subcategory for RMD might get unwieldy. You'd have to add a second subcategory for "non-RMD" withdrawals, and properly apportion the withdrawals. Maybe most of the time a withdrawal will be purely RMD, or purely not-RMD (which would come after your RMDs were finished for the year). If there is a single transaction that has both amounts, you'd have to include both categories in the split lines. And if later in the year you discover that you need to take more RMDs, well you need to track this all if you want the RMD total/non-RMD total for the year to be correct, and you might have to go back to older transactions to fix them - like if you withdrew more than you had to, you'd want to recategorize part of all of some older ones as non-RMD.

I don't bother distinguishing between RMD and non-RMD. I just have a category of Retirement Distribution, with subcategories for what retirement account they came out of. It's enough for me to see the "income" in my reports, vs. my expenses, and the net total.

I use the income and expense reports, not the cash flow reports. I honestly barely know the difference. Like you, I exclude retirement accounts and exclude transfers. So I am reporting on bank accounts and credit cards.

It's a whole other topic, whether retirement withdrawals are even really income. From a tax perspective, an IRA withdrawal is taxable income. But from the same perspective, what is a Roth IRA withdrawal? It's not taxable income, and how is moving of money from a Roth to a checking account different from moving it from a bank savings account to a checking account? Or from a taxable brokerage account to a checking account? These accounts all hold "savings", and if one moves them into checking account, they look like income as much as IRA withdrawals do. You'd be moving money into checking to meet living expenses.

This has been discussed by the community several times.

I prefer to do it your way, but understand the arguments for the other way.

Oh, and something that IS actual income, but is not taxable, is the receipt of dividends and realized gains in the retirement accounts! Which we both omit from our reports. So, we are reporting as income what is really not income, and ignoring the actual income.

No perfect solution. What we are doing is kind of a hybrid, because we are ignoring real income, while reporting on some "transfers" as income, and ignoring any other transfers (from brokerage accounts and savings accounts). It's kind of a mess, and everyone has to chart their own course, to come up a solution that gives them the insights they are looking for.

The Quicken Cash Balance is the same as the Cash Balance for the core account on the Fidelity website. For me, that is the preferred behavior. I just ignore the mismatch on shares of FDRXX.