I need to record an exchange of funds -converting a retail money market account to a federal money m

universeuniverse Member ✭✭
edited October 2018 in Investing (Windows)
I need to record an exchange of funds - retail money market to a federal money market - I have added the new account.  I do not detect a similar problem discussed but I may not be forming the question properly.  I have Q for windows premier 2017.

Comments

  • NotACPANotACPA SuperUser ✭✭✭✭✭
    edited October 2018
    Since they're both $1 constant value funds ... why bother?  Also, it's ill advised to download the quotes for constant value funds ... as sometimes Q's quotes provider screws up.

    Just edit the security (CTRL-Y) and change the fund symbol.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • gmalis1gmalis1 Member
    edited April 2017

    Since they're both $1 constant value funds ... why bother?  Also, it's ill advised to download the quotes for constant value funds ... as sometimes Q's quotes provider screws up.

    Just edit the security (CTRL-Y) and change the fund symbol.

    Well, the federal money market may be tax exempt...whereas the retail money market could be taxable.

    If you don't feel comfortable just changing the symbol of the fund to your federal money market fund, you can use the investment action Mutual Fund Conversion, if that's the scenario.  Did your mutual fund company automatically move the shares from the retail money market fund to the federal money market fund?  If so, you could use this transaction type.

    Or alternatively, just Sell the "shares" of the retail money market fund and use the proceeds to Buy the shares of the federal money market fund.  This would be applicable if you weren't "forced" to convert the shares from one to the other but you "voluntarily" changed from one fund to the other.  

    Any of the three choices will work.  It just depends on what you are trying to accomplish.  
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