Re: Fidelity sweep fund annoyance

On Thursday, February 2, 2023 at 2:15:53 PM UTC-6, John Pollard wrote:

> Unfortunately, I think you are mostly at the mercy of your financial institution: 
> if they do not download all the legitimate MM transactions, there's nothing Quicken can do. 
> 
> If your problem is limited to missing the MM Buy transaction that should remove the cash generated by the MM Dividend transaction; 
> the only alternative I can suggest would be to Edit the downloaded Dividend transaction to be a Reinvest Dividend transaction ... 
> I think that would be slightly less work than creating a new Buy transaction. 
> [I'm assuming that all the real-world Div/Buy pairs occur on the same date.]


I did not think of this earlier; perhaps it could be another alternative.

I have a Fidelity account; but I currently have no MM fund there, so I can't test this.

There is an option at Fidelity for how to handle "Dividends and Capital Gains".

For both Dividends and Capital Gains: you can choose to have dividends reinvested, or deposited to your Fidelity "Core Account".

And, as I understand it, you can choose to have your Fidelity Core Account be a MM fund or cash.

If you were to change your Fidelity Core Account to Cash, 
you might be able to keep your Quicken holdings in sync with your Fidelity holdings 
without having to add or edit any downloaded transactions.  
I'm presuming here that if your Fidelity Core Account is cash, Fidelity would be downloading 
interest transactions (instead of Dividend transactions), which would not require any additional processing: 
they would increase your Quicken cash keeping it in sync with your Fidelity cash.