Best way to track Money Market balance?

Ted's Avatar

Ted

24 Apr, 2021 01:23 AM

TLDR; skip to next bold

USAA used to download all transactions for an account, including the transactions for the money market fund acting as the cash balance. When TD Ameritrade switched from cash to money market years ago, I manually entered MM buys and sells to make the account have a zero cash balance with all "cash" in the MM fund, just like USAA.

However, now I have accounts at Schwab, Fidelity and Victory (formerly USAA) that seem to handle the money market fund the same way as TD Ameritrade and not USAA. All transactions, including MM dividends, download except the MM buys and sells required to keep the MM balance in line with the brokerage.

Now that I'm doing this for multiple accounts, I've decided it's probably better to just treat the MD cash balance as the MM balance and not worry about the MM buys and sells going on in the background. I think I can probably filter the register by the security, for example SWGXX for Schwab, and then delete all buys and sells. Then I can convert all DivReinvest to just Div. That should leave the final cash position the same as the brokerage's MM balance.

In short, two questions:

1) Is everyone else ignoring that their MM fund has a recognized ticker symbol and just allowing the MD account's built-in cash to act as the MM?

2) Is the process I described the best way to untwist my brokerage accounts so that I don't have so much manual work each month to keep up?

I'd love to hear what others are doing here.

  1. System closed this discussion on 24 Jul, 2021 01:30 AM.

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