replacing cash fund in account

fund they use to a different fund. How do I deal with this in Quicken Deluxe 2006?

Ignore it. A money market fund is, from the Quicken perspective, just an interest bearing savings account. The "share value" of money market fund shares is always $1.00 Who cares what the name is?

Doug

Well I need to do something about it because when I download my monthly transactions, when a downloaded transaction takes money out of the new money market fund to buy some security, Quicken asks me to accept it as a "short" sale since all the actual cash resides in the other money market's name and there are not sufficient funds to cover the money fund "sale" .

So my options appear to be to : a) just rename the old money fund security name (but that would make my Quicken records no longer match the broker's paper records) or b) create a transaction "selling" all the old money fund securities and then use that money to purchase securities i the name of the new fund security. Since both are worth $1 each, I think that might be the more correct way to deal with this from the accounting point of view.

But I am no accountant which is why I was asking here from the Quicken experts. Maybe Quicken has a more elegant way to deal with this.

Jeff

As far as I can tell; you have two choices, which depend on what you care about tracking your past involvement with this security.

You can, as you originally suggested, just change the name of the security. Quicken doesn't care, the IRS doesn't care: only you can care: it's a mm fund, there are no profit or tax issues involved.

Or, you can sell all the shares in the original mm fund and use the resulting "cash" to purchase the same number of shares in the new mm fund. Since there can be no capital gains involved, this won't cause a tax problem. And it will allow you to keep track of the two mm funds you owned, for the periods you owned them ... including the ability to track their (potentially) different "yields".

I don't think that the different treatments are significant; but the ultimate answer is up to you.

Thank you John, that's what I thought. I appreciate the help.

Jeff

Thanks. I'll have to look up and see what a reminder transaction is.

Jeff

I had the same situation with a brokerage account recently and just entered a Reminder transaction which seemed to do the trick.