Fidelity FCASH vs cash core account

Discussion in 'Microsoft Money' started by Ivo Janssen, May 24, 2006.

  1. Ivo  Janssen

    Ivo Janssen Guest

    I'm still using Money 2004, which has an issue with understanding that
    the Fidelity FCASH account is really the core account when you want to
    automatically download transactions. A few years ago there was a lot of
    discussions about this. E.g. Google here
    http://lnk.nu/groups.google.com/9lt

    I was wondering, this was 2 years ago. Has a) Fidelity fixed this, or
    b) does a newer version of MS Money do this correctly now?

    -Ivo
     
    Ivo Janssen, May 24, 2006
    #1
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  2. Ivo  Janssen

    Chris Cowles Guest

    "Ivo Janssen" <> wrote in message
    news:...
    >
    > I was wondering, this was 2 years ago. Has a) Fidelity fixed this, or
    > b) does a newer version of MS Money do this correctly now?


    Define 'correctly do this' so we no what you want it to do.
    --
    Chris Cowles
    Gainesville, FL
     
    Chris Cowles, May 24, 2006
    #2
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  3. Ivo  Janssen

    Cal Learner Guest

    In microsoft.public.money, Chris Cowles wrote:

    >"Ivo Janssen" <> wrote in message
    >news:...
    >>
    >> I was wondering, this was 2 years ago. Has a) Fidelity fixed this, or
    >> b) does a newer version of MS Money do this correctly now?

    >
    >Define 'correctly do this' so we no what you want it to do.


    Perhaps Ivo Janssen would like either of the methods I would call
    "correct":

    1. Buy and Sell shares of FCASH as a money market fund. Enter
    ReinvestDividend transactions when the monthly dividend payments are
    made. The reported share position data would be the sum of the Buys
    (including ReinvestDividend) and Sells.

    2. Do not issue Buy and Sell transactions. Instead let the FCASH be
    represented by the account cash balance in the cash account. Enter
    Interest transactions into the Cash Transactions register. Do not
    send the FCASH as an investment balance. Instead send that as a cash
    balance. I think that <BALAMT> would be appropriate for that, but I
    am not sure at the moment.

    Doing a hybrid of the two is where FCASH runs in to problems, if I
    remember the discussions correctly.
     
    Cal Learner, May 25, 2006
    #3
  4. Ivo  Janssen

    Alan Biddle Guest

    Cal,

    I have the same problem which was discussed. When I download
    transactions from Fidelity, Money applies all the dividends,
    purchases, monthly payments, etc, against the fictitious Money cash
    account, rather than the Fidelity cash account fund. Periodically I
    manually buy or sell between the two in Money to fix things. Since
    the sum of the two accounts is always the correct amount, it really is
    only a cosmetic issue, at least at the level I use Money. Still, it
    would be nice to know how to convince Money that my Fidelity cash fund
    is in fact where all the transaction should be applied, automatically.
    I have a similar problem with another institution which provided
    automatic download, though the process is much more complicated.


    --
    Alan
     
    Alan Biddle, May 25, 2006
    #4
  5. Ivo  Janssen

    - Bobb - Guest

    Alan,

    You WANT all downloads to appear in your Fidelity Cash account , right ?
    Take a look at my / Cals' entries in this thread " Re: What would you
    like to fix in Money?". I went thru this with him ( a few times over the
    years in fact). I had my cash in my FCASH account . If that's what you
    want, then all div DO show as reinvestments. Sell your cash and BUY
    FCASH with symbol FCASH . I set price at $1 and unchecked it from "
    updates prices chart". It worked fine for me, except that everytime I
    bought a fund I had to sell FCASH to generate " cash" to buy a fund -
    otherwise Money showed negative Cash. ( that's why I wanted it "fixed"
    but Dick and Cal said that it's due to Fidelity's reporting method that
    we can't buy stuff directly from FCASH.

    PS: for previous conversations , search through this newsgroup on
    groups.google.com for " - Bobb - ".
    You see a lot of back and forth on this issue.

    Bobb



    "Alan Biddle" <> wrote in message
    news:...
    > Cal,
    >
    > I have the same problem which was discussed. When I download
    > transactions from Fidelity, Money applies all the dividends,
    > purchases, monthly payments, etc, against the fictitious Money cash
    > account, rather than the Fidelity cash account fund. Periodically I
    > manually buy or sell between the two in Money to fix things. Since
    > the sum of the two accounts is always the correct amount, it really is
    > only a cosmetic issue, at least at the level I use Money. Still, it
    > would be nice to know how to convince Money that my Fidelity cash fund
    > is in fact where all the transaction should be applied, automatically.
    > I have a similar problem with another institution which provided
    > automatic download, though the process is much more complicated.
    >
    >
    > --
    > Alan
     
    - Bobb -, May 27, 2006
    #5
  6. Ivo  Janssen

    Alan Biddle Guest

    Bob,

    If I correctly understand what you are doing, it is what I am doing.

    Alan


    --
    Alan
     
    Alan Biddle, May 27, 2006
    #6
  7. Ivo  Janssen

    - Bobb - Guest

    Alan,
    Those are the 2 options: leave it in Money "cash" OR leave it in FCASH
    ..
    The reason we can't do as we'd like (use FCASH as our 'cash' account) is
    due to the way that "Fidelity" handles it, not Money. Apparently
    Fidelity doesn't "do as they should".
    >Dick and Cal said that it's due to Fidelity's reporting method that
    > we can't buy stuff directly from FCASH, not Microsoft's.

    ----
    "Alan Biddle" <> wrote in message
    news:...
    >> Bob,
    >> If I correctly understand what you are doing, it is what I am doing.
    >> Alan
     
    - Bobb -, May 29, 2006
    #7
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    #8
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    #9
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