I am using Quicken for Windows Premier. About a month ago I opened a new Vanguard brokerage account and added it to Quicken.

When a cash position exists in the account, from the sale of an equity position for example , a "Sweep in" transaction type with a negative amount and a description of "Vanguard Federal Money Market Fund Settlement Fund " gets automatically generated in the Vanguard account.

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When this "Sweep in" transaction gets downloaded into Quicken it gets handled as a "Withdraw" transaction type. So, the money just gets sucked out of the Vanguard account in Quicken without showing up anywhere else like a Vanguard Federal Money Market Fund VMFXX position for example.

When a security purchase is made in the account, a "Sweep out" transaction type with a positive amount and a description of "Vanguard Federal Money Market Fund Settlement Fund " gets automatically generated in the Vanguard account. When this "Sweep out" transaction gets downloaded into Quicken it gets handled as a "Deposit" transaction type.

So, this deposit money just seems to come from nowhere and simply gets added to the Vanguard account balance in Quicken without actually coming from somewhere else like a Vanguard Federal Money Market Fund VMFXX position for example.

Bob L , SuperUser. Thanks QPW and Bob for your helpful replies. Those interest payments show up in the transaction history at Vanguard as two transactions: There is no sign of either of those transactions in the Quicken transaction register for the Vanguard brokerage account after the transactions have been downloaded. Capital and changes made recently at Vanguard with respect to how they manage their brokerage accounts. I feel certain that this will have to get worked out, but it may take some time.

If there is any way I can help then please let me know. Powered by Get Satisfaction. The web browser you are using is out of date and not supported by this site. Please update your browser.

Community powered support for Quicken. Community Home Quicken for Windows: Managing Investments - Windows. You can complain to Vanguard, it is Vanguard that is coding the transactions wrong. A longer explanation is that what you see was right in the past, and is still correct for some accounts. The normal setup in the past was that if you traded just Vanguard mutual funds you had one account. If you decided to trade other securities they would create separate "brokerage" account for that.

The "cash fund" was always kept in the first account. So if you made it purchase in the brokerage account they would sell from the "cash fund". In the brokerage account there would be two transactions, one for transferring the cash from the first account to the brokerage account. And then the buy for the security. It would work the same way in reverse for a sell of a security. Well about 6 months or so ago Vanguard started a process of consolidating the two accounts.

In fact they gave me the option to do so in my wife's accounts, so I decided to do it. In my accounts they have not yet asked, and I would probably put it off knowing what I know now. But they have not changed the way the code what is sent the remaining "brokerage" account. Or you just delete it, and just track this as "cash". Note if you are going this way you would want to put in a sell for the existing shares so that everything is in the cash balance.

Also note that there isn't a big reason to have "security lots" of a "cash fund". Bob L , SuperUser , Points. FWIW, a Vanguard rep has been looking into this at my request for about a week or so as it is clearly their issue, as QPW notes. I too did not take advantage of the "upgrade"to a consolidated brokerage account that they offered, but you get it partially anyway if you have dividend paying stocks already held in one.

That is, if you don't have one they automatically add a federal money market account holding in the brokerage account-instead of in the account where your previous sweep account was held. That then leads to the erroneous withdrawal coding mentioned by the op. I prefer changing the withdrawal to a buy to keep the holdings in line with the real world, and to avoid compare to portfolio mismatches. Then something else is amiss with your downloads from VG.

Reinvestment transactions for VG MM "securities" should look the same as any other. Bob, we would appreciate it if you could let us know what if anything the Vanguard Rep comes up with to solve this problem.

I just went through the same confusing mess with my own VG Brokerage acct. Hope VG solves this. Capital " This is completely wrong. And your premises are based on a wrong assumptions. First off this problem started long before Quicken was sold.

Second Quicken or Quicken Inc is not responsible for "auditing" what your financial institution sends. If your financial institution sends or fails to send a transaction or codes it as a dividend when it is should be a reinvestment or something like that. It is not Quicken or Quicken Inc's place to "question" it.

It is your place as the customer to do that. Quicken shouldn't be "correcting" what the financial institution sends. Please disregard my comment about the Quicken product sale. I'm sure my assumptions are, in fact, wrong. Yes I know it is frustrating, I have had to workaround this problem for months in my Wife's accounts.

It is Vanguard that has to fix it. BTW in truth it is just marginally more trouble than it was before. With the two accounts there is the transfer. The transfers come down as a withdraw in one account and a deposit in the other. The "other" account is "unknown", because Vanguard has no idea what the other account is called in Quicken, and Quicken doesn't do anything to try to connect the two now that is something Quicken Inc could do with a new feature, like it does in the non investment accounts.

End result is I always either had to enter the transfers manually and match them, or edit the transfer to put in the "other" account.

So instead now I just edit it to change a withdraw to a buy. Luckily these are very inactive accounts, so I end up only having to do this kind of thing about once a month in each account. Pre-consolidation, I had a proliferation of Vanguard accounts cluttering up my screen.

Sometimes it was like navigating a Chinese crossword puzzle. Now I just change the categories on MM sweep transactions Withdraw or Deposit to being internal transfers, which is what they are anyway.

They both need to fix it, which means neither ever will. Do you have a Vanguard ? If so, limber up your fingers. As QPW noted, Quicken Inc. And Vanguard could stop doing that. Don't hold your breath. Personally, as a long-time Quicken user there are about a million other things I'd rather see the new overlords address before they get to this.

Vanguard - account services - electronic bank transfers

John Pinchot Points. We use Quicken to make managing our finances easier. Blaming somebody Vanguard does not accomplish that. I expect Quicken to work with Vanguard to find a resolution. That is the value they add.

Blaming Vanguard for the problem does not add value for the user. Quicken has lost site of the concept of adding value for the user. I could say the same about your statement "Blaming somebody Vanguard does not accomplish that. Neither does blaming Quicken Inc. What is this "blaming" anyways. If I throw an apple in the air and falls to the ground because of gravity, I'm not "blaming" gravity when I point out that it is gravity that makes it fall. I'm stating a fact.

It is very easy to see that the cause is Vanguard's coding of the transaction incorrectly. It is their responsibility to fix it. And they will do that on their own priority basis. And for some reason people seem to think that Quicken Inc has more pull with financial institutions than their customers do.

Well I certainly have not found that to be the case. If Vanguard won't listen to customer complaints I see no reason why they would listen to Quicken Inc. Besides you and I have no idea what Quicken Inc has or has not done. They might in fact already have pointed this out to Vanguard. But they can't force Vanguard to fix it if they don't want to.

Currently my "Cash Balance: If I add a "Div" transaction to the Prime Money Market Fund, the Cash Balance goes up accordingly.

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I don't see how to change that link to the Federal Money Market Fund. I also don't know if this is the same problem you're discussing here, though I may not be reading this closely enough. This thread has to do with Vanguard changing the sweep account from Prime to Federal Money market for brokerage transactions.

Are you saying that you have a Quicken linked checking account? Please provide more about how your quicken accounts are set up now.

Actually Bob L this thread isn't exactly about the change from the Prime fund to the Federal Money Market fund, even though what its about consolidating of accounts might be done at the same time for some people.

Vanguard didn't allow buying and selling of securities outside of their funds. A bit older setup. If you wanted to start trading securities outside of Vanguard funds they would allow it by creating a "brokerage account" separate from the main account. But "cash" was still held in the primary account in the form of the prime money market fund or it was possible to use certain other funds for "cash".

To buy an "outside" security, the needed amount of prime money market would be sold and a transfer from the primary to the brokerage account would be made.

Reverse the process for selling an "outside" security. And Vanguard was coding the downloading of transactions into the account with this transfer in mind withdraw in one account, deposit in the other. But they didn't change how they coded the transactions sent to the new "one does all account". It still coded as if that transfer is needed. As in say you sell some shares of Apple, instead of downloading a transaction to buy the prime or Federal Money fund they still send a Withdraw for the amount that should go to "cash".

That is the problem that the original question addresses. In the mean time Vanguard is also switching from the Prime fund to the Federal Money fund as the "cash" fund. So that brings up johnperko 's question on how to do this switch over. The normal answer might be using the Corporation Acquisition action to convert all the shares from one fund to the other, so that you can change over without any tax consequences nothing I care about since this being done in my IRA account.

But I was reading a message from them yesterday, and it isn't that clean. It seems that they are going to allow people to stay in the Prime fund or whatever other fund they were using for "cash" for the "existing" funds, but as they want to buy more securities they will have to transfer the funds from the prime fund to the Federal Money fund, to fund the purchase.

Needless to say I have no idea how Vanguard is going to code this when they download transactions, or even a clean way to record it manually in Quicken. Most likely the best way would be to do the transfer for all the money you have in the prime fund to the Federal Money Market fund. That way whatever you do will all be done in one transaction instead of piece meal here and there.

BTW I'm not sure this kind of exchange is a "tax event" even in a taxable account. Since there is never any gain or loss. Maybe I was too brief in not mentioning consolidation again. I understand the thread, but in my case it was just that change from prime to federal that caused the problem.

That is, I have never agreed to consolidation, yet when a dividend was paid for a stock in my brokerage account they automatically created a federal mm fund in my brokerage account to hold the cash from that dividend.

No buy was ever downloaded and instead the withdrawal was downloaded as if my sweep account was still outside the brokerage. Vanguard is looking into this. Just a few days ago they got back to me and asked for my log files so hopefully they are going to eventually get it fixed or at least say they are not. My real belief is there are few "real" aspects to this. Sometimes it is better not to try to fix things in an "in between state". I really wonder how many people on this thread actually talked to Vanguard instead of just some how believe they should know and fix something without them contacting them about it.

It seems to me that most people believe if they are having a problem then, lots of people are having it, so they don't have to report it. Frankly for me it is a very minor annoyance. FYI, I bugged my technical contact at Vanguard today and he got back to me with a "we are still investigating your issue Got the following encouraging news in an email today so keep your fingers crossed: We have identified the issue that is causing the error you are having when connecting your Vanguard accounts in Quicken.

We're actively working on creating a fix to the site that will allow your Quicken downloads to continue without a problem. This issue has affected many clients and is a high priority. At this time, we unfortunately do not have an estimated time of resolution. We'll send you an email as soon as the issue is resolved. That does sound encouraging. Thank you for continuing to update this post. I just got off the phone related to the same issue with the Fed Money Mkt sweep. They are very familiar with the issue, and I was told they have "a lot" of open tickets on this For now I just manually enter the information such as DivX to the Fed MM.

Even tho it is VMFXX I had a secondary problem where my mutual funds that had been transferred by me as a share transfer in quicken and by Vanguard in their process stopped showing dividends in quicken After creating a test account with Vanguard web tech who works with the quicken issues and successfully downloading those mutual fund transactions, I was given some rather drastic use two quicken files, or disable and hide old transactions and create new I ended the conversation to think it over and looked into if there was something in the account that had changed After backing up selecting the button voila, the transactions downloaded.

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There was a question that popped up relating the Fed MM name in quicken to an the online name that I agreed to, but otherwise the Reset Account fixed the odd Mut Fund dividend download issue not a problem for stocks. The Fed MM still does not show the sweeps, but does record its dividends Anyway Vanguard may be getting serious about this after about 6 months Jim Harman 3, Points.

Here is how I am currently working around the issues with the new "improved" Vanguard Brokerage accounts that allow you to hold Vanguard mutual funds, stocks, and ETFs in a single account and use Federal Money market VMFXX as the settlement account. Basically the problem is that the transaction downloads from Vanguard do not include buys and sells of VMFXX, but the downloaded share balances do include VMFXX.

Funding the settlement account: If you are transitioning from an old-style brokerage account, where the settlement account was a money market fund in your separate mutual fund account, you must move money into the new settlement account before you can buy anything in the new style brokerage account. If it is a newly created brokerage account, enter a Deposit of the cash and a Buy of VMFXX. The next day when you connect to Vanguard and download, the share balances should reconcile with no errors.

Buying securities in the brokerage account: Change the Deposit to a Sell of VMFXX at 1. The brokerage account cash balance should be zero and the shares should reconcile. Change the Withdraw to a Buy of VMFXX. Reinvested dividends in the settlement account: Dividends sent to settlement account: This downloads as a Div transaction for the security and a Withdraw transaction. Dividends sent to your bank only works for mutual funds: This downloads a 4 transactions: Div for the security, Withdraw of the same amount, then the next day another Withdraw the transfer to your bank , and a Deposit.

Hopefully they will fix it soon! This conversation is no longer open for comments or replies. Related Categories Managing Investments - Windows Conversations Followers. Powered by Get Satisfaction Terms Privacy Cookies. Your browser is not supported The web browser you are using is out of date and not supported by this site.