Cash In an Investment Account


G

Gary Lindgren

How do I define that the Cash balance is a specific money market symbol.
When I set up the account, I handled the cash amount as a generic item
without a specific money market symbol e.g., FCFXX. How can I assure that my
cash balance is all with this symbol. It seems that when Cash is transferred
in/out there is not a defined symbol for the asset.
Thank you
 
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L

Lois

Gary Lindgren said:
How do I define that the Cash balance is a specific money market symbol.
When I set up the account, I handled the cash amount as a generic item
without a specific money market symbol e.g., FCFXX. How can I assure that my
cash balance is all with this symbol. It seems that when Cash is transferred
in/out there is not a defined symbol for the asset.
Thank you
Just use the cash balance to purchase the money market shares at $1 per
share.

Lois
 
S

Steve Dell

In one of my earlier brokerage accounts, they used "Prime Cash Account" for
the name of the holding account for cash.

I find that downloading various transactions from the brokerage accounts
with various buying and selling of $1/share items confusing and potentially
inaccurate. For my investment accounts, I set them up to have cash balances.
whenever I add cash (monthly interest and the like) I refer to is as "prime
cash account." I've done this for all my accounts and it has worked well for
me.

Just one man's opinion.

Steve
 
G

Gary Lindgren

Thank you for the feedback. The problem I'm trying to fix is to correct
errors when I import the quicken file to the MSN Portfolio application.
There application gets confused on how it handles the cash balance.
Gary
 
G

Gary Lindgren

Steve,
Your method sounds exactly what I have been doing. In my case I called it
Money Market. The problem is that the MSN Portfolio application does not
know how to handle this item. I thought that if I could define it with a
ticker symbol I could fix the confusion that Portfolio has with the Cash
item.
Gary
 
J

John Pollard

Thank you for the feedback. The problem I'm trying to fix is to
correct errors when I import the quicken file to the MSN Portfolio
application. There application gets confused on how it handles the
cash balance.
Gary, your answer to Lois does not make sense (the more so for those of us
who know nothing about MSN Portfolio), you have merely restated your
question, but not said why Lois's answer does not help; please clarify.

The very nature of a Quicken "cash balance" in an investment account is that
it does not have a ticker symbol, and I know of no way to give it one. But
if you do as Lois suggests and purchase shares of a money market mutual
fund, then your "cash balance" will be converted to a money market fund
balance ... and money market funds can and do have ticker symbols. In your
case, since it sounds as if you do not have a money market fund in the real
world, you could make up a pseudo symbol for your Quicken non-existant mm
fund.

I do not understand why any financial application would not be able to deal
with a cash balance (what does your MSN app do with MiscInc and MiscExp
transactions, for example; or where does it put the result of a Div
transaction?).

Also I am assuming that you are exporting to a QIF file; as you probably
know, QIF file transactions do not contain ticker symbols anyway, they
contain the full security name.
 
G

Gary Lindgren

John,
The you for the comments. First let me explain the MSN Money Portfolio
application.
http://moneycentral.msn.com/investor/home.asp you can reach it through the
URL and click on "Portfolio" This will download a ActiveX file and then you
can monitor your stock portfolio. You can enter stocks manually or download
your portfolio from Quicken or MS Money. When you import Quicken data you
select a *.QDF file, but I believe the *.QEL, *.QPH, *.QSD, and *.QTX files
may also get imported. Now you can monitor stock prices with information on
about 68 parameters, e.g. volume, 52 week high, 52 week low, % change, gain,
etc. The most valuable thing is that you get this updated every 5 minutes
automatically (subject to 20 minute delay). However you can click on
Analysis and get Intraday price and volume and actually get this data
without the 20 minute delay. This is for one stock at a time. One thing that
I fixed was to enter ticker symbols for some stocks that I had 8 to 12 years
ago. I didn't think they were important so I ignored them in Quicken.
However when I imported the file to Portfolio, a message box pops up and
asks for the missing symbols. I clicked the "Ignore" button. Today I
imported the latest Quicken file with the missing tickers added. Now
Portfolio is more accurate. I have only 2 accounts with faulty Cash amounts
vs. 5 before. I had started to replace my generic Money Market item with the
real Money Market ticker for cash on one account, but seeing good reporting
without this change I'm going to reverse this and go back to my generic
Money Market. So... for those 2 accounts not reporting correctly there must
be something else which will the some careful analysis.
Check out this application, it's very valuable.
Gary
 
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G

Gary Lindgren

I was able to get the correct Cash report in all accounts now. I had 2
complicated transactions (merger with new stock) that were not entered
correctly. I fixed those and all is well now.
Thank you for all the comments.
Gary
 

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