Fidelity On-Line Update Problems with dividends??

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?
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Reply to
Art Prest
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
Reply to
danbrown
"Art Prest" wrote
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?
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John Pollard
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Reply to
John Pollard
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
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
 Click to see the full signature
Reply to
Bob Wang
"Bob Wang" wrote
I'm not sure what to say. I've been downloading to to my Fidelity account for several years and it's always been the same. Fidelity also does not download holdings for that mm fund, so every Compare To Register offers a placeholder.
Don't know whether it makes any difference, but my account is a Fidelity brokerage account, not a simple mutual fund account.
222 10460 body "Bob Wang" wrote
I'm not sure what to say. I've been downloading to to my Fidelity account for several years and it's always been the same. Fidelity also does not download holdings for that mm fund, so every Compare To Register offers a placeholder.
Don't know whether it makes any difference, but my account is a Fidelity brokerage account, not a simple mutual fund account.
Reply to
John Pollard
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.
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Reply to
Art Prest
My accounts (one taxable account, 2 IRA's) are all Fidelity brokerage accounts, and my money-market (FDRXX) dividends had been downloading into Q05 Deluxe as ReinvDiv just fine... until recently, when I noted that the dividends for 5/31 and 6/30 did not download at all. I called Fidelity about this, and their suggestion was to set up a new Quicken file and download to it. To my surprise, the FDRXX dividends came through fine. So the problem appears to be in my Quicken file. I went back to a backup file from late April, and the FDRXX divs. downloaded into that file as well. So now I'm using the backup as my "good" file, although on 7/31 I will try the apparently corrupted file one last time.
So my suggestion to anyone who thinks that their transaction download is wrong, is to create a new file and see what transactions download into it. You might be surprised.
Reply to
Uncle Fester

Not only have I tested downloading to a new Quicken file, I have also checked the OFX log: I definitely get Dividend transactions, not Reinvestment transactions.
Not getting a transaction at all is quite a bit different than getting one that is incorrect. (Your explanation doesn't make clear whether only some transactions, or all transactions, were missing before you tried the new and backup files.)
I'm not arguing against others trying your suggestion; just preparing them not to be surprised.
Reply to
John Pollard
I'm starting to wonder if the TYPE of account at Fidelity impacts this.
Fidelity allows individuals to open mutual fund accounts and/or brokerage accounts. The taxable joint account with my wife is brokerage-type, as is my Rollover IRA, her Rollover, her Roth & her SEP-IRA, while my Roth and my SEP are mutual fund accounts.
The mutual fund accounts have neither a cash position nor a MMF, while all of the brokerage-type accounts have a cash position (recorded in Q as "cash" for the IRA accounts and as a linked cash account for the taxable fund) (and yes, I realize that I COULD merge the linked cash account into the taxable portfolio, but since this is our primary checking account, I like having it separate).
I can easily envision that Fido might download one type of record (a ReinvDiv) from a MF type account and another (a Div) from a brkr account -- even if the actual cash in both circumstances originated from FDRXX or SPRXX --, thus possibly explaining the discrepancies in experience being reported here.
db
Reply to
danbrown
Having kept my old (supposedly corrupt) file and my new (April backup) file up to date throughout July, I found that BOTH files received downloads for FDRXX dividends of July 31. So yet another mysterious Quicken behavior goes unanswered.
Reply to
Uncle Fester

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