Verify and correct as needed and Backup.Copy your file to a new name as a "super backup" - BUT continue to use the ORIGINAL file.I suggest that you follow the instructions W/F sent and then: The brokerage account handles everything and downloads from W/F. Quite the contrary, One no longer needs a checking account at all. I am W/F customer and not affiliated with them in any other way. Unfortunately most operators are NOT familiar with Q. W/F's CAP customer service phone is (800)733-8812. An investment account in Q2011 provides all of the functions of a checking account including reconciliation. Checking transactions are in brokerage so the complete activity can only be seen in the brokerage account.Ī Q checking account is no longer required and would require a lot of manual work to maintain. On W/F's web site one sees that the checking balance is correct BUT brokerage in/out transactions are NOT shown. They do NOT provide downloads of cash transactions that occur in brokerage into checking, W/F still uses the same brokerage and checking account numbers. They consider a CAP to be a brokerage account that one can write checks on but NOT a brokerage/checking combination. Wells Fargo has taken over Wachovia (mid-March in CT) and continues the CAP. Accessing accounts on the Wachovia web site provided matching information to Q. Checking was the only account needing reconciliation and the balance in brokerage was supposed to match. This could produce duplicate transactions in Q reports. The net cash in the investment account (dividends+interest+sales-purchases) at day's end was withdrawn and deposited into checking. CAP accounts continued but in Quicken the investment and banking accounts had to be "unlinked" because Wachovia now provided the download transactions for both. Accessing accounts on the First Union web site provided matching information to Q.įirst Union purchased Wachovia and adopted their name. Checking was the only account needing reconciliation since the balance in brokerage always netted to zero. This was handled using Quicken's "linked" bank and investment accounts. The Command Asset Program (Wells Fargo's current name) or CAP is a combined Brokerage/Checking account.įirst Union offered the accounts such that cash was automatically transferred between brokerage and checking. Over the years the banks have changed their ways of interacting with Quicken and I thought that it might help someone if I would record my experiences and the current settings that I have found work best with Wells Fargo, the current bank. I have been using Quicken with First Union, Wachovia, & Wells Fargo CAP Accounts since 1995.
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