CD Account
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From: Antares 531 on 13 Jan 2010 09:51 Should a CD account at my Credit Union Bank be entered into Quicken as an investment account or as a savings account? Setting up Quicken 2010 Premier on a new computer and still a bit uncertain about some things such as this. Gordon
From: John Pollard on 13 Jan 2010 10:00 Antares 531 wrote: > Should a CD account at my Credit Union Bank be entered into Quicken as > an investment account or as a savings account? > > Setting up Quicken 2010 Premier on a new computer and still a bit > uncertain about some things such as this. If you anticipate downloading from the financial institution, you'll need to setup the type of account they require. In my experience that means if the CD is held at a bank, you need a bank type account (savings account, in my case). If the CD is held at a brokerage, you'd need a Quicken investment account, and the CD defined as a security in Quicken. If no downloads are expected, I don't think it matters all that much whether you call it an investment or savings; use the account type that reflects your view of the purpose of the CD. -- John Pollard news://<YOUR-NNTP-NEWSERVER-HERE>/alt.comp.software.financial.quicken Your source of user-to-user Quicken help
From: John Pollard on 13 Jan 2010 10:03 Antares 531 wrote: > Should a CD account at my Credit Union Bank be entered into Quicken as > an investment account or as a savings account? > > Setting up Quicken 2010 Premier on a new computer and still a bit > uncertain about some things such as this. If you anticipate downloading from the financial institution, you'll need to setup the type of account they require. In my experience that means if the CD is held at a bank, you need a bank type account (savings account, in my case). If the CD is held at a brokerage, you'd need a Quicken investment account, and the CD defined as a security in Quicken. If no downloads are expected, I don't think it matters all that much whether you call it an investment or savings; use the account type that reflects your view of the purpose of the CD. [Savings accounts can be given investment account treatment in later versions of Quicken. That is, you can have a savings account displayed in the Investing section of the Account Bar, and included as "Cash" in your asset allocation and other investment reports.] -- John Pollard news://<YOUR-NNTP-NEWSERVER-HERE>/alt.comp.software.financial.quicken Your source of user-to-user Quicken help
From: Antares 531 on 13 Jan 2010 12:20
On Wed, 13 Jan 2010 09:03:25 -0600, "John Pollard" <8plus7isf(a)gmail.com> wrote: >Antares 531 wrote: >> Should a CD account at my Credit Union Bank be entered into Quicken as >> an investment account or as a savings account? >> >> Setting up Quicken 2010 Premier on a new computer and still a bit >> uncertain about some things such as this. > >If you anticipate downloading from the financial institution, you'll need >to setup the type of account they require. In my experience that means if >the CD is held at a bank, you need a bank type account (savings account, >in my case). If the CD is held at a brokerage, you'd need a Quicken >investment account, and the CD defined as a security in Quicken. > >If no downloads are expected, I don't think it matters all that much >whether you call it an investment or savings; use the account type that >reflects your view of the purpose of the CD. > >[Savings accounts can be given investment account treatment in later >versions of Quicken. That is, you can have a savings account displayed in >the Investing section of the Account Bar, and included as "Cash" in your >asset allocation and other investment reports.] > Thanks, John, I've set this up as another account with my Credit Union Bank and the data import went well. I guess this is going to work out okay. There are monthly dividend payments to this account. I'll watch it closely and see if these download correctly. Gordon |