Dealing with cash and sweep accounts

cdsandler's Avatar

cdsandler

12 Dec, 2016 07:00 PM

I have been following the discussions over the years regarding the downloading of Vanguard transactions including the inability of recording cash sweeps into the right account. This question is along those lines, showing what MD did with a recent transaction download. I would like to be able to fix this so I show a 0 cash balance.
In July, I transferred money from an old IRA into my Vanguard brokerage account. I recorded it as Buy/Xfer from the old IRA to the Vanguard Prime Money Market Fund, which I have listed as a security in the Vanguard account.
On August 1, I bought (used the BUY transaction) an equal monetary amount of shares in the Vanguard Total Stock Market Index Fund. I entered the number of shares and amount of money total. MD debited the cash balance in my Vanguard account register, and the next day created a Xfer "Sweep from MM Fund" into the checking account that MD had set up randomly as the sweep account, and debited the same amount of money from the cash balance of that account.
Logically, I think that what would be appropriate would be being able to Buy/Xfer from the Vanguard Prime Money Market Fund into the Vanguard Total Stock Market Index Fund in the register, but I don't see that as an option in the Transfer field.
How can I resolve this without any effect on cash balance?

  1. 1 Posted by cdsandler on 02 Jan, 2017 01:30 AM

    cdsandler's Avatar

    Hello? Anybody home?

  2. 2 Posted by -Kevin N. on 04 Jan, 2017 02:44 PM

    -Kevin N.'s Avatar

    Hi cdsandler,

    I'm not understanding the reasoning for an intermediary Checking account.

    From what you're saying, as a result of the transfer from the IRA, you have 'x' amount of shares of the VGMM Fund. At this point you have a zero Cash Balance. Correct?

    So as to finance the 'Buy' of the VG Total Stock Marker Fund, 'Sell' the required number of shares of the VGMM Fund. Again, you should end up with a zero Cash Balance.

    -Kevin N.

  3. System closed this discussion on 05 Apr, 2017 02:50 PM.

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