Fidelity Updates Still Broken after Update

Quick92 · January 16

I got some December HSA transactions yesterday too. What Fidelity website reports as "SHORT-TERM CAP GAIN" is imported to Quicken as a Dividend. Not a huge error, but not quite correct. I reported it as a bug.

BJB · January 17

I finally did my conversion/ update. My last update was early September right before the deadline. I had some existing accounts and some new that had never seen a download.

It allowed me to link existing and setup new Quicken accounts for the new.

It had me re-authorize and then started downloading. For my old account, it said it downloaded 1000's of transactions, but it only downloaded like a month and a half! And put them in pending downloads. No placeholders added, which is strange.…but I just have to enter a few months of activity.

For the new accounts it also only downloaded a month and a half or so, and it did put in placeholders. I deleted those and entered the missing months, all good. I did try re-downloading because in the past, if I had more than 3 months to download, it would do it in 3 month chunks but this time it did not.

So, not too bad. The only question I have is I never saw a question whether to track the core MM account or not. And I don't see that in account options. For most accounts, I have a default core MM account and the FZDXX which has buys and sells. The dividends for this account it did not download as a buy.

I have been following all of these discussions, but not sure where things stand on the money market track or don't thing. I really don't care that much...just need to either continue tracking or not. I did expect if there is a core MM account and a non-core you use, it should probably show the buy and sell into that second one.

All in all not a bad conversion. Wish it would have downloaded all 3.5 months is all.

Thanks for any input.

[Edited - Readability]

Quicken Kristina · January 17

Hello @BJB,

Thank you for sharing your experience! The reason less history downloads is because the conversion was causing months, and for some, years worth of duplicate transactions to download. Restricting the amount to just 1-2 months worth made the post conversion cleanup easier for customers.

The cash representation option should appear in brokerage accounts. What kind of accounts do you have (brokerage, IRA, 401k, etc.)?

I look forward to your response!

BJB · January 17

Thanks. They are all brokerage accounts. For Quicken Windows, exactly where is the option? Account specific or global? If I change it before the next download I assume they will come through with buys and sells. Still confused as the one that didn't was not a default MM option...

Thanks

[Edited - Readability]

Quicken Kristina · January 17

Thank you for your reply @BJB,

It's an account-specific option. You should be able to access it a couple different ways. In your investment accounts, the Cash Balance near the lower right of your register should be a blue link.

Click on that link and it will bring up the Update Cash Balance window. Click the Cash Representation button.

The other way to get to the cash representation option is by navigating to Tools>Account List, click the Edit button next to the investment account, then go to the Online Services tab. Click the Reset Money Market securities/cash options button.

I hope this helps!

BJB · January 17

Thanks, it does! Can you confirm this is just for future downloads and it will not impact prior or current balances? Still a little concerned because I don't care if SPAXX is treated as cash, but want FZDXX treated as buys and sells, as they are so. Sometimes it is treating both as cash.

[Edited - Readability]

Quicken Kristina · January 17

Thank you for your reply,

It's a good idea to backup your file prior to making changes. Changing whether a security is represented as cash or as a security can impact current balances. See the screenshots below.

Thank you!

ZQkn · January 18

Kristina,

Recently, Fidelity reinvested some amount of cash in my brokerage account. While downloading the transaction I classified it as Reinvestment. Now, in the Account Holding window I see Cash and Cash Units. The later one comes from the Security List.

Is there a way to transfer Cash into Cash Units, for consistency?

qudtp · January 18

I would like to get this working as well - my retirement accounts generally use FDRXX for the core position, and Quicken is often informing me that the shares reported by Fidelity don't match Quicken's share balance. Generally I get Quicken to ignore this, but I have to remember to go into the details in order to tell Quicken to ignore the discrepancy. If I forget, I have to adjust my cash and share balances afterwards, to reset FDRXX to zero and adjust my cash balance.

I don't have all of the same screens I see above. What I do have, on the Online Services tab, is

The Set/Edit button opens:

Perhaps I don't understand what the "Default Behavior" is supposed to look like, but I am never offered a choice when downloading. Quicken is either silent on the topic, or warns me about the FDRXX share balance discrepancy.

Is it possible that Quicken actually does not recognize FDRXX as a core account? It's not on the list of funds I see when I click the link:

Is it merely cosmetic that FDRXX is not on the list? Or is that significant?

If I enter the Customize dialog, it does seem that I can designate any of my money market funds - I have 2, neither of which is on that "Funds considered" list. But it looks to me like the funds are simply be presented to me because they "look like" money market funds, as stated by the tooltip help:

The reason I am doubtful that this is working is because I can also select a fund that I know is definitely not used by Fidelity as a core account - it's on my list but it's not my core and cannot be my core.

I'm also doubtful, because I tried it on one account, and had disastrous results, leaving me with a cash balance of negative tens of thousands of dollars. When adjusting things, Quicken deleted up to decades of money market redemptions which had increased my cash balances in each case. And then it didn't even leave me with a sensible final balance.

Fortunately I am still running Quicken for Mac in parallel, so I was able to compare registers and make adjustments in QWin.

I have several other accounts to work on - and don't want Quicken deleting transactions in them. I can see in the Custom Behavior options that its plan will be to delete many Buy, Sell, Add and Remove transactions. Can this not be avoided?

My Quicken cash balances currently match my FDRXX share balance at Fidelity - that seems like I should be all set for the future.

I must be missing the step that will be the easy fix.

ZQkn · January 18

I am in a similar situation. Some many transactions ago I kind of ignored in Quicken to transfer systematically Cash into FDRXX. So, my Holdings lists Cash and FDRXX. As long as their total is equal to the value of FDRXX specified in a Fidelity's account monthly statement I ignore the FDRXX share discrepancy alert coming from Qckn.

I am thinking, nevertheless, eventually to transfer, but only inside of Qckn accounts, cash into FDRXX by "buying" those shares, to be in sync with Fidelity monthly statements.

I also noticed that Qcnk now lists Cash Units in the Securities List. Not sure how the program differentiate them. I am awaiting for response from "Quicken Kristina" about how to transfer Cash into Cash Units.

leishirsute · January 18

If you access the online center for your account, does it show FDRXX as the cash balance?

BJB · January 18

I just converted. In my first post-conversion download it treated both my core money market funds and another money market fund I also use both as cash. I think I am just going to leave things be as I don't really care that much. FWIW I never saw the choice box on how to treat MM funds either during the process. The cash balance is hyperlinked and I can click on that and it asks about the current online vs quicken cash balance. My online tab looks same as before. Maybe I missed how to open the MM choice box but since everything ties out now I might just leave things. Do a fake sale of my MM so it hits cash and move forward.

My fear is what is mentioned by @qudtp does something with my history.

leishirsute · January 18

@BJB From what I've read on the discussions, Fidelity conversion doesn't download all the history if it was several months since a transaction download. If you updated your history manually during that period, it should be okay. If not, there may be transactions missing, but I would think that would show up in the account balance. If there turns out to be a period of time with a large number of missing transactions, Quicken has the ability to import csv files from Fidelity and that may be a way to get missing transactions. Creating a backup before checking out the csv import is advised.

BJB · January 18

@leishirsute

Thanks.

I was just at about 120 days. Pre-conversion I could download one chunk, then download again and Fidelity would pick it up. This time it picked up about 30 days and a second download did nothing. So I keyed in 3 months, deleted placeholders and all is good.

But then one chase CC downloaded and another one didn’t so have to figure that out now😀

BJB · January 18

@Quicken Kristina thanks for your help above in making my conversion go fairly well!

Fidelity Updates Still Broken after Update

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