I transferred in $10 k from a savings account into a Vanguard MM account. The transfer appeared in the Vanguard account as a Xin and the cash balance showed 10 k. I then did a buy shares 10k at $1 per which shows properly, but the cash balance did not get reduced by the 10k buy. The account now shows that it has 20 k in it. What am I doing wrong???
Hi, Dick.
Which version of Quicken? Some things change from year to year, or between Basic and Deluxe, for example, so always let us know which version you are asking about.
In Q07, in your Buy transaction, be sure to check the box to "Use cash...From this account..." That should reduce the cash balance while increasing the shares.
In earlier Quickens, we could choose between the Buy and BuyX transaction types. Perhaps you chose BuyX, which transfers in cash from another account.
RC
RC I using Q07 and have tried to reenter the Buy transaction again to verify that the "Use cash from this account is checked . I checked it and then entered the fund name and number of shares when I tabbed to the cost per share the box with the Use cash from this account disappeared. The transaction that I used is " Buy-Shares bought" Looks like I will have to adjust the cash balance manually to correct the problem. I don't like to do things like this not knowing why it didn't do it automatically. If I can figure out how to take a snap shot of the screen I'll upload it here. Thanks for you help. Dick
Hi, Dick.
When you set up this Vanguard Account, did you check the Single Mutual Fund button? The explanation under that line says, "...and there is no cash balance."
I've never used this type of account, but I see John Pollard explaining it often here.
RC
RC, The account is not set up as a Single Mutual Fun. If I try to change it to a Single Mutual Fund now it tell me This account has or has had a cash balance. It cannot be made "Single Mutual Fund". Dick
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