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Transfering funds from stock account to checking account at a later date

unknown

Windows 10, Quicken 2017 Home & Business

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NotACPA

Elaborate. Why later? And, are they at the same Financial Institution? What access method do you use to connect?

unknown

Usually deposit stock sale checks when received from brokerage account in a day or two as a "SellX,' but this time the check came on mid-December and I didn't get to deposit it until January 10th. I would prefer to show the stock return in 2016, and move it to my checking on the 10th.

volvogirl

Just st up another cash account to run it though. Call it Undeposited Checks. Then when you do deposit it you make the bank account deposit a Transfer to the new account to clear it out.

Bob_L

The trade date is what matters. That is I would record the sale in the brokerage account on that date, letting the cash remain there until you create a transfer out to your checking account on the day of deposit. (This assumes you have a regular brokerage account in quicken that holds cash, i.e. It is not set up as a single mutual fund account.)

unknown

Just st up another cash account to run it though. Call it Undeposited Checks. Then when you do deposit it you make the bank account deposit a Transfer to the new account to clear it out.

This will work! Thanks for the advice. The first time I wanted to deposit into another year.

Katherine Jones

Just st up another cash account to run it though. Call it Undeposited Checks. Then when you do deposit it you make the bank account deposit a Transfer to the new account to clear it out.

@volvogirl: I have had other situations where I needed a 'dummy' account in which to store funds and then net 'dummy account' that to zero with another transaction that same day or within a relatively short period of time. For instance, if I elect to Sell $10k of one mutual fund and buy $10k of another mutual fund (i.e, rebalancing or moving money around based on current financial conditions). I assume this is the same concept as you are directing Steve Jacobs?

P.S. In the '90's I supported an accounting app and a user I was assisting referred to such an account as her MICOR account. When I asked what that was, she told me it was her Make It Come Out Right account :-)

volvogirl

Just st up another cash account to run it though. Call it Undeposited Checks. Then when you do deposit it you make the bank account deposit a Transfer to the new account to clear it out.

Yes Exactly