Truly Handle Fidelity Cash Management Account (CMA) as Checking, not Investment

ndurand

I've marked my Fidelity Cash Management Account (CMA) as a Checking account through Simplifi, but my bill payments through this account are inherently interpreted as investments. Therefore, there is a duplicate income charge marked for every withdrawal, and these two charges are both moved to the default of being excluded from my spending plan.

After reaching out to Simplifi Support, I've been told that the only workaround is to create a manual withdrawal in a non-CMA account in order to successfully include these withdrawals in my spending plan. I am hoping that this type of account is able to be interpreted successfully in the future and that bill payments through my CMA can be recognized as withdrawals through Quicken

Coach Natalie

@ndurand, thanks for posting to the Community!

I went ahead and moved this out of Feature Requests for now so we can do some data gathering and educating.

With that, are you saying that you'd like to be able to turn the connected Fidelity CMA account from an Investing Account Type in Quicken Simplifi to a Checking Account Type? If so, since the ability to do that is not currently available in Quicken Simplifi, we could turn this back into an Idea post requesting the general ability to turn Investment Accounts into Checking Accounts.

If the issue is more regarding that the Investment Transactions are not included in the Spending Plan, this would be due to Quicken Simplifi only allowing Payment/Deposit Investment Transaction Types to be included in the Spending Plan and Reports: https://support.simplifi.quicken.com/en/articles/6540220-managing-investment-transactions#h_c7e964d37e

For the ability to include other Investment Transactions in the Spending Plan, please vote for the following Idea post!

https://community.simplifimoney.com/discussion/5312/ability-to-include-any-all-investment-transaction-in-reports-and-the-spending-plan-edited

Please let us know so we can best assist!

amdrtech

I would second the notion to allow Fidelity CMA accounts to be classified as checking accounts. I use Fidelity CMA for all my bill paying and currently it is very "clunky" to use within Simplifi.

Coach Natalie

@amdrtech, thanks for joining the discussion!

If you'd like to create an Idea post requesting the general ability to change Investment Account Types to non-Investment Account Types, that would be great!

https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

Otherwise, I would suggest reviewing this recent discussion regarding Fidelity CMA accounts:

https://community.simplifimoney.com/discussion/12638/fidelity-cma-account-gets-added-as-an-investment-account-edited

I hope this helps!