Quicken Cash Balance No Longer Matches Brokerage's Cash Balance

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If your brokerage tracks your cash balance in a money market fund (also called a "sweep fund"), then during your first investment transaction download Quicken may ask whether you want to track this as a simple cash balance. If you say yes, then Quicken displays the money market fund balance as your cash balance.

Your brokerage may have additional cash amounts from outstanding transactions that are not yet included in the money market fund balance. Your Quicken cash balance would thus be off by a few dollars or cents.

There are two possible reasons for this:

  • If you execute an investment transaction that results in a cash gain, it may take a few days for your brokerage to "sweep" the resulting cash into your money market fund. Thus your Quicken account will reflect the change in cash balance before your brokerage does. For the few days this takes, your Quicken cash balance will not agree your brokerage's cash balance.
  • Your brokerage may sweep only whole dollar amounts into the money market fund. Thus any left-over cents will not yet be included in the brokerage's money market fund. Again, your Quicken account will reflect the change in cash balance before your brokerage does. The next time you execute a transaction that results in additional cash, these cents will are typically added to the next money market sweep, up to the nearest whole dollar amount. See your brokerage for more details about how sweeps are made.
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