by Mark » Wed Mar 22, 2017 10:29 am
Hi Cole,
Vanguard is a bit unique in their handling of sweep transactions in their brokerage accounts. When retrieving transactions, the sweep transactions are explicitly listed. For example, if you get a dividend in some stock, you will get 2 transactions retrieved:
Dividend in Stock for $X
Buy of Money Market for $X
If you've assigned the money market as your default cash account, this will result in a duplicate deposit of that $X into the money market.
There are 2 options to deal with this:
1) Set your default cash account to "<none>" for this account. You do this in the properties of the sub-portfolio. Since Vanguard is already reporting these sweep transactions, in general you don't need a default cash account assigned. This way FM won't automatically record a corresponding entry for you automatically. There are a couple negative points with this approach though. Any "Investment Banking" transactions won't be imported, as you don't have a default cash account. This can be things like ADR fees. Also, dividends in your money market that are reinvested show up as distributed. Vanguard reports dividends reinvested in your money market as reinvested, but for 0 shares, so FM treats this like it was distributed, unless it is a default cash account.
2) Set your default cash account to the new money market. You will have to un-check any "sweep" type transactions from importing in the "Preview Importing Transactions" dialog. You can either do it during the import, or go in afterwards, and delete the duplicates.