Fidelity cash management account and Quicken

[physics911]

Good morning.
Does anyone know first-hand if a Fidelity cash management account will show up in Quicken as a bank account, instead of an investment account, and if it does show as banking, will the core position (SPAXX most likely) show as available cash?

We have a Fidelity brokerage account already, which we use for bills, payroll deposits, etc., but I kind of have to jump through hoops a little on how I use it in Quicken for this purpose as it shows up as an investment account, of course, and my core position (FZFXX) doesn't show up as cash.

This isn't a big problem for sure, and I am not going to go back to a normal bank, but if the cash management account core position will show in Quicken like cash, then I'll open one of those.

Thank you

[brainstorming]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

[cspitzer]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

[WapelloHawk]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

I have 30 years as a Quicken user and this falls into the "you learn something new everyday" category for me. Quicken CMA as an investment account has had trouble keeping track of my Fidelity SPAXX purchases ever since it became my core holding a few months ago. With your advice, I just created the linked checking account and the problem seems resolved. Thanks!

[physics911]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

Yeah, I figured this part out right away, but it doesn't treat my core position as cash, so it doesn't help me. My core position is the treasury money market fund, not SPAXX, and Quicken doesn't see the ins and outs for it as cash transactions. Does SPAXX show up as cash? I prefer the treasury fund, but I'm not wedded to it if SPAXX will show as cash transactions.

[brainstorming]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

Can you provide the steps to display cash in my checking account? Are you using windows or mac?

[WapelloHawk]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

Can you provide the steps to display cash in my checking account? Are you using windows or mac?

For Windows: go to Tools, then Account List, then select Edit for your Fidelity CMA account, then on the General tab select the "Show Cash in Checking Account" option, then "OK".

For me, Quicken immediately auto created a new linked checking account which basically removed the cash transactions from the Fidelity CMA account and moved them to the new Fidelity checking account.

[cspitzer]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

Yeah, I figured this part out right away, but it doesn't treat my core position as cash, so it doesn't help me. My core position is the treasury money market fund, not SPAXX, and Quicken doesn't see the ins and outs for it as cash transactions. Does SPAXX show up as cash? I prefer the treasury fund, but I'm not wedded to it if SPAXX will show as cash transactions.

Yes, SPAXX will show up as cash in the linked checking account. It does for me. I use a separate Fidelity brokerage account rather than the CMA because SPAXX was not available as a core position for the CMA until recently.

I previously had a CMA. The cash in the FDIC-Insured Deposit Sweep Program option showed up as cash in my linked checking account in Quicken.

[brainstorming]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

Can you provide the steps to display cash in my checking account? Are you using windows or mac?

For Windows: go to Tools, then Account List, then select Edit for your Fidelity CMA account, then on the General tab select the "Show Cash in Checking Account" option, then "OK".

For me, Quicken immediately auto created a new linked checking account which basically removed the cash transactions from the Fidelity CMA account and moved them to the new Fidelity checking account.

Thanks for your reply. Since I have the Quicken Mac version, I don't seem to have that option.

[physics911]

I would like to confirm that once I moved my core position to SPAXX, the cash functioned worked fine in Quicken. It did create a new linked cash account in Quicken, versus the old linked account which always showed $0 cash with my previous core position. This required adjusting a few things I had setup in Quicken, but nothing too extravagent.

[typical.investor]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

I have 30 years as a Quicken user and this falls into the "you learn something new everyday" category for me. Quicken CMA as an investment account has had trouble keeping track of my Fidelity SPAXX purchases ever since it became my core holding a few months ago. With your advice, I just created the linked checking account and the problem seems resolved. Thanks!

How exactly did you do that? If I select the CMA account and go to Account Settings, I see no such option there.

I'm on Quicken Mac so maybe the option isn't available to me, or I simple can't find it.

I will try "Simple (positions only)" for the Investment Tracking Method and see if that works. SPAXX is messing me up too.

Edit: nevermind doesn't look like the feature is available on a Mac... I see Quicken's instructions here https://help.quicken.com/pages/viewpage ... lect%20Yes.

[Sammmy]

This works seamlessly for PC users, unavailable for Mac users.

Can I designate a Fidelity® Cash Management Account as a checking account in Quicken®?
Quicken® recognizes a Fidelity® Cash Management Account as a checking account when you follow these steps:

From the Main Menu in Quicken, choose Tools > Accounts List.
Select the investment account to which you'd like to add a linked checking account, then click the Edit button.
On the General Information tab on the Account Details window, choose "yes" to "Show cash in a checking account." Quicken will prompt you to back up your data file.
Once the backup is complete, the linked checking account is created in Quicken with the same name as your investment account, plus the suffix "Cash." Click the OK button to save your changes

[GuayaquilEcu]

Thanks for this post , learned something new today.

[Gryphon]

I've been keeping track of my Fidelity CMA in Quicken Mac since I opened it 3 years ago. Since I switched my core position over to SPAXX it's been really simple, much easier than when the MMF money wasn't core. I don't bother trying to keep track of SPAXX buys & sells, though - the core position shows up as the cash balance and not as an investment in SPAXX & I'm content to let it go at that.

[michaeljc70]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

This is how I do it. Since I use the cash management of the brokerage account as my primary checking account it is much easier for me to see what's going on. It keeps the investment transactions separate from the bills and cash transactions.

[KRP]

I have 30 years as a Quicken user and this falls into the "you learn something new everyday" category for me. Quicken CMA as an investment account has had trouble keeping track of my Fidelity SPAXX purchases ever since it became my core holding a few months ago. With your advice, I just created the linked checking account and the problem seems resolved. Thanks!

How exactly did you do that? If I select the CMA account and go to Account Settings, I see no such option there.

I'm on Quicken Mac so maybe the option isn't available to me, or I simple can't find it.

I will try "Simple (positions only)" for the Investment Tracking Method and see if that works. SPAXX is messing me up too.

Edit: nevermind doesn't look like the feature is available on a Mac... I see Quicken's instructions here https://help.quicken.com/pages/viewpage ... lect%20Yes.

For MacOS Quicken, the "Fidelity Investment Mac" institution seems better for a CMA than the "Fidelity Investment" institution, because it supports Detailed tracking mode....

[River in Sight]

For Windows: go to Tools, then Account List, then select Edit for your Fidelity CMA account, then on the General tab select the "Show Cash in Checking Account" option, then "OK".

For me, Quicken immediately auto created a new linked checking account which basically removed the cash transactions from the Fidelity CMA account and moved them to the new Fidelity checking account.

Thank you for sharing this!!

[Earthless]

My Fidelity CMA displays in Quicken as an investment account since it is actually a brokerage account with cash features. Great question, I am looking forward to anyone who has been able to display it as a bank account.

Quicken has the option for investment accounts to display cash in a checking account. Selecting that option will create a new checking account that is directly linked with your investment account/CMA and which will display as a bank account. Any cash transactions for the investment account/CMA will be recorded in the linked checking account.

I’ve been using this feature for at least a year with no issues at all.