Re: Fidelity sweep fund annoyance

On Thursday, February 2, 2023 at 10:17:39 AM UTC-6, David Arnstein wrote:

> I have experienced an issue with syncing Quicken Windows to Fidelity 
> accounts. This has been happening for many years, with all of my 
> Fidelity accounts. 
> 
> The syncing process duly reports dividends paid by the sweep (money 
> market) mutual fund. But it does not report the purchase of new fund 
> shares with those dividends. Hence, 
> 
> Reality: number of shares of sweep fund in Fidelity account increases. 
> 
> Quicken register: number of shares of sweep mutual fund is unchanged. 
> A cash balance appears. 
> 
> My work-around is to manually add a buy transaction to the 
> Quicken register. Is there a better solution? 


I have another approach (with two variations), if you prefer.

VARIATION 1

You can utilize a Quicken "Scheduled Transaction Group" to 
enter both the Dividend and Buy transactions simultaneously in your Quicken Fidelity account; 
then have the downloaded transactions match the ones you entered via the Schedule Transaction Group.

For this approach to work; you should NOT use 
the Quicken Preference to "Automatically add ...." investment transactions to your Fidelity account.

[Since you probably won't know the exact amount of the dividend before the download, 
this approach will require you to modify the amount of a dividend and a buy transaction 
in the Quicken Fidelity account before Accepting the downloaded dividend and buy transactions.]

- Create a dividend transaction and a bought transaction for the MM fund in your Quicken Fidelity account.
- Right-click each transaction and choose to "Memorize investment transaction". 
  When that is done, you can see the memorized dividend and bought transactions by 
  going to Investing > Memorized Investment Transactions.

- Create a Quicken "Scheduled Transaction Group" by:
-- going to Tools > Manage Bill & Income Reminders, 
-- clicking Add and selecting "Scheduled Transaction Group". 
-- Give the Scheduled Transaction Group a name, 
    assign it to the Fidelity brokerage account, chose a "Due on" date and a Frequency
-- Where the dialog says "Choose Transactions", select "Investment"
-- You should see then see the memorized dividend and bought transactions displayed 
    with an empty check box (in the column, "Group"): put a check mark in the box for each
-- Click Save.

- Delete the dividend and buy transactions from the Fidelity account.

Make sure you Enter the Scheduled Transaction Group in your Fidelity account (anytime) 
before Accepting the downloaded Fidelity transactions. 
When the downloaded transactions are visible in the Downloaded Transactions tab, 
you can edit the existing dividend and buy transactions for the correct amount.
[If you know the amount of the dividend before the download, 
you can modify the dividend/buy transactions at that time.]

Your downloaded transactions should then have a Status of "Near Match", and 
they should be matches to the two transactions you entered via the Scheduled Transaction Group  
then modified to have the correct amount.

------------------------------------------------------------------
VARIATION 2

There is another way you can use Memorized Investment transactions for your purpose.  
With the Memorized Investment Transaction list open and an appropriate Quicken investment account open, 
you can select a Memorized Investment Transaction (in the List) and click the "Use" button. 
That process will allow you to modify the Memorized Investment Transaction 
(just as if you had selected the transaction in a Quicken account, and clicked its Edit button), 
before letting the "Use" process Enter the transaction.