Vanguard account shows cash balance after sale

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I sold all of one fund I held in a Vanguard account.   Quicken shows the sale transaction but continues to show the amount as 'cash' and includes it in the account balance even though it has been transferred to a bank account and then amount is no longer included in the online view of my account.    How can I get quicken to update to match, showing the cash and that fund is gone?  It goes through the sync/update process with no errors.
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Les Mikesell

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Posted 2 months ago

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UKR, SuperUser

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If the money was transferred out, then how was that recorded in Quicken? You're probably missing a "Cash transferred out of account" transaction in your investment register.
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Tom Young, SuperUser

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"What is the point of syncing if the sync does not pick up the current status?"

I have no idea what happened here, it could very well be human error, but I know how to fix it.  Over in the bank Account, in the Category box you need to provide the Quicken Account that the money came from: [Name of Vanguard Account].
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Les Mikesell

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Great, Thanks!  That generated an 'Xout' transaction in the Vanguard account that cleared the cash holding.
 
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gmalis1

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If you would have followed my instructions 2 days ago...you wouldn't have needed this prolonged conversation.  
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Les Mikesell

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It seemed easier to select the existing bank transaction - would I have been able to pick that going the other way?   But I still don't understand why Quicken is happy to show my correct bank balance when it doesn't match the transactions up, but showed the incorrect Vanguard balance in that situation.
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gmalis1

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Either way works.  I usually do the transfer from the investment (Vanguard account) because it takes at least a day or two for my bank to clear the transaction in my checking account.

But, you could do it either way...that's why it's a TRANSFER.  Transfers are a "two way street".  You enter it in one register and the other half of the transfer appears in the other register...without having to enter it twice.

And once again you don't seem to understand the concept of transfers.

The incorrect balance in your Quicken Vanguard account has to do with the fact that once you sold the shares, that sale winds up as cash.  YOU did nothing in Quicken to tell it what to do with the cash.  If you would have created a transfer TO your checking account FROM your Vanguard account, the cash would be accounted for, your Vanguard balance would be correct and when the check (or EFT) from Vanguard to your checking account cleared it would then be matched to that half of the transfer.

You have to look at Quicken and follow the "real life" flow, which somehow you seem to understand THAT concept.

1 You sold shares of a fund

2 You received cash from the sale

3 Vanguard sent the money from it's account to your checking account. 

So...how difficult is that to follow?  Vanguard downloaded the sale for you, but it has ZERO clue where you want that money to go.  It knows you took the money, but doesn't have any clue which Quicken account it's going to.

And your checking account has no idea that this is a transfer of funds from Vanguard.  All it knows is that it got some money from Vanguard.  It doesn't care if it's a transfer of funds or money that came down from the heavens (doubtful).  All your bank knows is that Vanguard sent it some money.

As mentioned above, Quicken is not hands-off financial software.  As a matter of fact, it's very hands-on.  You have to review transactions for accuracy for amount, date, payee and category.  And since a transfer is a special category in Quicken, you have to review and occasionally change things to fit what actually happens in the real world.

If your looking for more hands-off, then use Mint.  You basically have to do nothing there except pick out a category.  
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