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Subject Author Date
Fidelity On-Line Update Problems with dividends?? Art Prest 07-11-2006
Posted by Art Prest on July 11, 2006, 12:01 pm
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 I recently started using Fidelity On-Line Updates with Quicken 2006. For the
most part it works well except when I receive dividends in my money market
accounts. The dividends show up as cash and are not reinvested back into the
money market accounts. Thus I have to manually correct every account where a
dividend is received. Is this a Quicken problem or a Fidelity problem? Is
there a solution?

--
To reply to me directly, delete "nospam_" from my email address.



Posted by danbrown on July 11, 2006, 1:04 pm
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Art Prest wrote:
> I recently started using Fidelity On-Line Updates with Quicken 2006. For the
> most part it works well except when I receive dividends in my money market
> accounts. The dividends show up as cash and are not reinvested back into the
> money market accounts. Thus I have to manually correct every account where a
> dividend is received. Is this a Quicken problem or a Fidelity problem? Is
> there a solution?

Fidelity sends MMF dividends as "DIV" rather than "ReinvDiv" ... thus
it's a Fidelity issue.

BUT, since you're apparently recording the MMFs as a security -- rather
than as CASH -- isn't Q also complaining about incorrect/missing share
balances for your MMF since Fidelity is likewise sending the MMF
balance as cash rather than as a security?

I ended up, in the various retirement accounts, just recording the cash
as cash and ignoring that it's actually in a MMF. Thus, I avoided your
issue & the "placeholder transaction" issue. Since my cash amounts are
quite small any error that's introduced into my investment return
calculations is almost non-existant.

db


Posted by Art Prest on July 11, 2006, 7:37 pm
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Right on all counts! I guess that I will have to live with it and make the
corrections. I thought that this would make my life simpler, oh well.

>
> Art Prest wrote:
> > I recently started using Fidelity On-Line Updates with Quicken 2006. For
the
> > most part it works well except when I receive dividends in my money
market
> > accounts. The dividends show up as cash and are not reinvested back into
the
> > money market accounts. Thus I have to manually correct every account
where a
> > dividend is received. Is this a Quicken problem or a Fidelity problem?
Is
> > there a solution?
>
> Fidelity sends MMF dividends as "DIV" rather than "ReinvDiv" ... thus
> it's a Fidelity issue.
>
> BUT, since you're apparently recording the MMFs as a security -- rather
> than as CASH -- isn't Q also complaining about incorrect/missing share
> balances for your MMF since Fidelity is likewise sending the MMF
> balance as cash rather than as a security?
>
> I ended up, in the various retirement accounts, just recording the cash
> as cash and ignoring that it's actually in a MMF. Thus, I avoided your
> issue & the "placeholder transaction" issue. Since my cash amounts are
> quite small any error that's introduced into my investment return
> calculations is almost non-existant.
>
> db
>



Posted by John Pollard on July 11, 2006, 1:06 pm
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>I recently started using Fidelity On-Line Updates with Quicken
>2006. For the
> most part it works well except when I receive dividends in my
> money market
> accounts.

> The dividends show up as cash and are not reinvested back into
> the
> money market accounts.

When I get mm fund dividends from Fidelity, I get them as
Dividend transactions; that's the way they come from Fidelity.
I must modify them in Quicken to be Reinvestment transactions.

I can't say for certain that Intuit plays no role in the
process, but Quicken does not; Quicken is just accepting what
was downloaded.

If you are getting a different "Action" value, then I'm not sure
why.

> Thus I have to manually correct every account where a
> dividend is received. Is this a Quicken problem or a Fidelity
> problem? Is
> there a solution?

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup



Posted by Bob Wang on July 11, 2006, 4:18 pm
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John:

That's odd. I've only had a Fidelity account since April, and the only MMMF
I have is SPRXX, but dividends have always been downloaded as ReinvDiv.

Bob

>>>

>I recently started using Fidelity On-Line Updates with Quicken
>2006. For the
> most part it works well except when I receive dividends in my
> money market
> accounts.

> The dividends show up as cash and are not reinvested back into
> the
> money market accounts.

When I get mm fund dividends from Fidelity, I get them as
Dividend transactions; that's the way they come from Fidelity.
I must modify them in Quicken to be Reinvestment transactions.

I can't say for certain that Intuit plays no role in the
process, but Quicken does not; Quicken is just accepting what
was downloaded.

If you are getting a different "Action" value, then I'm not sure
why.

> Thus I have to manually correct every account where a
> dividend is received. Is this a Quicken problem or a Fidelity
> problem? Is
> there a solution?

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup




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