Quicken and money market fund reconciliation

Nothing jumps out at me.

What kind of "adjusting entry" did Quicken enter?

Is the MMKT held in a Quicken brokerage account, or in a separate "linked" account?

If it's within the brokerage account, is it reflected as a "cash balance" or as its own security?

If it's a security, have you checked the share price, to make sure that it's a constant $1?

While you're at it, have you checked the share prices for the other securities that you hold?

db

Ahhh. I was thinking you were holding shares of the Money Market fund.

If you take a look at the Holdings tab for the account in the Online Center, you probably won't see any indication of the amount of "cash" you are "holding". I don't believe Quicken makes any attempt to compare your "cash" holdings between the fi and Quicken (I don't think the fi even downloads cash "holdings" ... mine don't).

If you were holding shares of a Money Market fund (instead of a linked checking account), I believe Quicken would have told you when your Quicken MM fund share balance was different from your downloaded MM fund share balance.

You can write checks in Quicken investment accounts.

If your real-world cash was swept into and out of a MM fund, you would have to sell shares of the MM fund (in Quicken) to create enough cash for the check(s). That's what happens at the fi.

And you'd probably have to buy and sell shares of the MM fund when you sold or bought shares of other securities. Also probably what happens at the fi.

It doesn't sound like your fi downloads those mm fund buys and sells.

Perhaps at one point you told Quicken to show your mm fund holdings as cash; an option which some financial institutions offer and some do not.

You can write checks in Quicken investment accounts.

If your real-world cash was swept into and out of a MM fund, you would have to sell shares of the MM fund (in Quicken) to create enough cash for the check(s). That's what happens at the fi.

And you'd probably have to buy and sell shares of the MM fund when you sold or bought shares of other securities. Also probably what happens at the fi.

It doesn't sound like your fi downloads those mm fund buys and sells.

Perhaps at one point you told Quicken to show your mm fund holdings as cash; an option which some financial institutions offer and some do not.

I believe you're thinking of "Smart Reconcile", which existed back at least as late as Q2002, but disappeared sometime after that. Smart reconcile kept track of individual reconciles by date and allowed you to undo selected reconciles and redo them.

Things are different now; though I can't always remember the specifics. I'm pretty certain you can no longer see, or work with, individual previous reconciles. But you can still re-reconcile; it's just that the devil is in the details.

If your current reconcile "opening balance" is correct (it's the net amount of all reconciled transactions), a re-reconcile might be as simple as changing the date on the balancing transaction you (or Quicken) added. Or deleting the balancing transaction, then adding or deleting transactions that totalled the same amount as the one you deleted. Making sure that you marked any "new" transactions as "reconciled" ("R" in "Clr").

If that doesn't work; I have always been able to re-reconcile by changing the Cleared Status of all reconciled transactions from the most current back thru the oldest "statement" that I wanted re-reconciled; then doing a single reconcile of all the transactions thru the end of the most current statement. To un-reconcile: you can use Find/Replace to change the Cleared Status to "c", or you can select the transactions in the register and click Edit > Transaction > Reconcile > Cleared.

You can experiment; just make a backup (or two) before you start.