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Money market cash in investment accounts

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?

Reply to
ajit_hema
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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.

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

Reply to
John Pollard

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

  1. 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?

Reply to
ap

You don't have to accept the placeholders.

This seems more "correct".

This seems easier.

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).

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.

Reply to
John Pollard

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

2 options to deal w/this issue

  1. Manually enter buys & sells to represent movement between cash & mm account

  1. 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?

Reply to
Bob Wang

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