Schwab Cash Account not updating

[DaveA]

When I retrieve the transactions from my Schwab account, the "Cash and Cash Investment" at Schwab does not update to the Cash account in the Fund Manager Portfolio. All of the investments update perfectly when dividends etc are reinvested in the various investments. How do I keep this portion of my Schwab Portfolio current?

[Mark]

Hi DaveA,

You need to make sure you have your cash investment designated as the "Default Cash Account" in your sub-portfolio. Right mouse click on your sub-portfolio, and choose "Properties...". Make sure your cash investment is assigned as the default cash account. When you retrieve from Schwab, make sure you leave checked the option at the bottom of the Preview screen that says "Automatically Record Corresponding Entries in Default Cash Account". This means, whenever you receive a dividend, the money will be deposited into cash. Whenever you buy/sell the money will come out/into the cash investment.

[DaveA]

Thank you Mark. I just want to be certain that you have all of the details. All of my Schwab Investments reinvest distributions into the investment. I am not certain that the changes in the Schwab Cash account reflect distributions. I know that they reflect "buy/sell" and Management fees. Will checking to "automatically run the distributions thru my default cash cause duplications?

I did not have the setting you suggested set to "default cash". I will do that.

[Mark]

Hi DaveA,

Reinvested distributions will not have any impact on the default cash account, as those do not generate cash. Only "distributed" distributions, or buys/sells will affect the default cash account balance. For example, if some stock pays a dividend, you will get a dividend recorded in the stock, and a purchase of the same amount into your default cash account if it is assigned. If you have a mutual fund that reinvests a dividend, there will be no impact on the cash account, no matter what you have set for your default cash account.

[DaveA]

Mark... thank you for your guidance. I feel that I am now a satisfied, happy convert from Microsoft Money to Fund Manager. Everything is working fine.

I have 9 sub-portfolios in my master portfolio. They include bonds, royalties, ira accounts, mutual funds, limited partnerships, annuities and savings. All are reporting and updating perfectly.

Dave

[Mark]

Hi Dave,

Great, glad to hear it.