Show Cash in Checking Account no longer working properly (shows MMF BoughtX and SoldX)

jdigital
jdigital Quicken Windows Subscription Member ✭✭
edited March 28 in Download, Add/Update Accounts (Windows)

I have a Fidelity account set up with a linked checking account, and it's worked fine until recently. I believe the problem started around the time of this incident: RESOLVED 2/20/26 Fidelity Core Cash Transactions Downloading as “Cover Short Sale (CvrShrt)” . While the "Covered Short Sale" issue is no longer there, the main account is still getting BoughtX and SoldX transactions in the money market fund for amounts that match activity in the linked checking account.

In other words, the main account should show only a monthly dividend and a zero share balance (for the SPAXX money market fund). The workaround is to delete the transactions after every update, but that's starting to get frustrating.

The settings for the account show "Treat this Money Market as cash: None" (I don't recall ever setting this). Does this need to be changed?

Version R66.28 on Windows

Answers

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

    I'd suggest taking a backup (just in case) and then changing that "Treat this Money Market …" to the name of the particular fund, FDRXX in my case.

    If that doesn't help, you've got the backup in case returning to None doesn't work

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

  • jdigital
    jdigital Quicken Windows Subscription Member ✭✭
    edited March 29

    Thanks for the suggestion. Here's what happened. Before making the change, Quicken asks me to "Select Cash Calculation Method".

    • Use unadjusted balance from brokerage (value = $X)
    • Use value of SPAXX (this is the default, value = $X)
    • Add value of SPAXX to brokerage behavior (value = 2*$X)
    • Subtract value of SPAXX from brokerage (value = 0)

    (at Fidelity, the account value is $X)

    I selected the default, and it summarized the actions that Quicken will take:

    • Delete 1 Buy, Sell, Add and/or Remove transaction for SPAXX
    • Update Quicken's cash balance from 0 to the brokerage value of $X.

    I ok'ed that. Quicken now shows the main account with a negative balance (somewhere near half of $X)

    Any idea what's going on? I have not yet tried downloading any transactions.

    UPDATE: actually it just got worse. I have some of those extra transactions still pending. After I deleted them, the main account still shows the same value (somewhere near half of $X) but the linked cash account has doubled (there's a new entry "Establish cash balance" that's responsible for this).

    To summarize, before making any changes, balances on the main and linked account looked fine (but Quicken was downloading spurious transactions). After making the change, the balances are now wrong.

    SECOND UPDATE: I restored from backup, redid the change, then made compensating changes to get the balances right. I think it looks ok now (fingers crossed). There's an odd cash adjustment that appeared in the linked checking account, but it fixes the cash balance, so I'll just leave it alone.

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