Money market cash in investment accounts

Posted by ajit_hema@sbcglobal.net on May 6, 2006, 9:38 pm

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Having problem on how to handle Money market transactions.. my
investment svcs uses a money market fund in lieu of cash , depositing
or withdrawing as cash needs dictate. Unfortunately, these transactions
do not download; thus my money market & cash balances are out of whack.
Few questions - using Quicken 2005

1. How do you force quicken to accept this Money market as cash in the
account?
2, Is there anyway to get this transactions to download?

Key question how are other folks handling this ...besides switching
brokers?

Posted by John Pollard on May 7, 2006, 10:23 am

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ajit_hema@sbcglobal.net wrote:

> Having problem on how to handle Money market transactions.. my

> investment svcs uses a money market fund in lieu of cash ,

> depositing

> or withdrawing as cash needs dictate. Unfortunately, these

> transactions do not download; thus my money market & cash

> balances

> are out of whack. Few questions - using Quicken 2005

> 1. How do you force quicken to accept this Money market as

> cash in

> the account?

Not sure I understand the question.

Quicken investment transactions default to using "cash" in the
investment account. If you are getting no mm fund transactions
downloaded, you can just allow Quicken's default treatment to
continue; the "cash" in your Quicken account will equal your mm
fund holdings most of the time ... and the rest of the time the
Quicken cash will equal the total of actual cash and mm fund
holdings.

> 2, Is there anyway to get this transactions to download?

This is not controlled by Quicken; speak to your financial
institution.

--
John Pollard
First initial underscore Last name at mchsi dot com
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Posted by ap on May 7, 2006, 10:57 am

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John thx for the rapid reply & insight on handling of cash & mm.
What's irrating is the cash & mm amounts are out of balance when I
reconcile & a lot of placeholder transactions are created. Sounds like
2 options to deal w/this issue

1. Manually enter buys & sells to represent movement between cash & mm
account
2. Sum cash + mm manually to check total holdings.

To clarify my origianl ques, is there a way to designate a certain
securtity (ie MM) in Quicken as the cash representation? I was able to
do this 1X, but have not been able to repeat the process.

Also, do you recommend using a linked checking account to track cash
in investement accounts?

Posted by John Pollard on May 7, 2006, 11:13 am

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ap wrote:

> John thx for the rapid reply & insight on handling of cash &

> mm.

> What's irrating is the cash & mm amounts are out of balance

> when I

> reconcile & a lot of placeholder transactions are created.

You don't have to accept the placeholders.

> Sounds

> like 2 options to deal w/this issue

> 1. Manually enter buys & sells to represent movement between

> cash & mm

> account

This seems more "correct".

> 2. Sum cash + mm manually to check total holdings.

This seems easier.

> To clarify my origianl ques, is there a way to designate a

> certain

> securtity (ie MM) in Quicken as the cash representation? I was

> able to

> do this 1X, but have not been able to repeat the process.

I have not done this myself, but from what I have read:*if* the
fi offers the option, yes, you can tell Quicken that mm fund
transactions/holdings are to be treated as Quicken cash. I
think you only get the option if the fi offers it and only at
the time you initially setup downloads with that fi (possibly
Deactivating and Reactivating would produce the offer again).

> Also, do you recommend using a linked checking account to

> track

> cash in investement accounts?

There is a lot of personal preference in these sort of options:
my preference is to keep the transactions in the investment
account. With the advent of "Cash Transactions" (Deposit,
Withdraw, Write Check, etc.) in investment accounts (Q2003? ...
definitely in Q2004), I can't think of a reason to have a linked
cash account anymore.

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

Posted by Bob Wang on May 7, 2006, 12:27 pm

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If your FI is Merrill Lynch, I had to create artificial securities to
"match" what was online. I also used the separate checking account option
since I like to see my cash equivalents position at a glance.

Bob

John thx for the rapid reply & insight on handling of cash & mm.
What's irrating is the cash & mm amounts are out of balance when I
reconcile & a lot of placeholder transactions are created. Sounds like
2 options to deal w/this issue

1. Manually enter buys & sells to represent movement between cash & mm
account
2. Sum cash + mm manually to check total holdings.

To clarify my origianl ques, is there a way to designate a certain
securtity (ie MM) in Quicken as the cash representation? I was able to
do this 1X, but have not been able to repeat the process.

Also, do you recommend using a linked checking account to track cash
in investement accounts?