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TD Cash Balance ignored in Reconciliation

Questions about updating prices or transactions in Fund Manager

Postby erlconsult » Thu Mar 04, 2021 12:24 pm

In November, two new accounts were opened at TD Ameritrade and set up in Fund Manager. Much to my dismay I discovered yesterday that for one of the accounts, the cash balance was not reflected in Fund Manager, despite the fact that I was reconciling these accounts and they were either fully reconciled or sometimes off by a small amount for the past few months. This cash account contained over 1 million dollars so there was a significant out of reconciliation condition that was being missed.

Upon researching, I discovered:
1. There was an investment in FM which contained three transactions which were dividend payments on the cash funds in the account, but the rest of the cash transactions were not there.
2. I had not set a default cash investment for the sub-portfolio.
3. I selected a default cash account for the sub-portfolio and reran reconciliation. Now I got a reconciliation error that was consistent with the missing amount of dollars.
4. I deleted the transactions in the FM sub-portfolio and reran transaction retrieval. This enabled me to reconcile the account.

Although I have solved my problem, it concerns me that the sub-portfolio reconciled okay for several months despite there being a significant discrepancy between the dollar amount in the FM portfolio and the amount of money actually at TD Ameritrade.

Eddy
erlconsult
 
Posts: 15
Joined: Wed Apr 10, 2013 3:09 pm

Postby Mark » Thu Mar 04, 2021 1:36 pm

Hi Eddy,

Yes, this is how it works. The cash is only reconciled if you have designated a default cash account.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
Site Admin
 
Posts: 9972
Joined: Thu Oct 25, 2007 2:24 pm
Location: Chandler, AZ

Postby erlconsult » Tue Mar 09, 2021 10:42 am

Mark,
Thanks for the quick reply.
I understand that if there isn't a default cash account, there were normally be nothing to reconcile for the cash position. However, since the point of reconciliation is to help verify accuracy, I think it would be helpful if there was some indication that cash is not being reconciled incase not setting the default cash account was unintentional as it was in my case.

Thanks,
Eddy
erlconsult
 
Posts: 15
Joined: Wed Apr 10, 2013 3:09 pm

Postby Mark » Tue Mar 09, 2021 1:47 pm

Hi Eddy,

I understand, and you make a good point. We can see about adding some sort of warning somehow in this case.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
Site Admin
 
Posts: 9972
Joined: Thu Oct 25, 2007 2:24 pm
Location: Chandler, AZ


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