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Q2018 Deluxe GIC

Unknown
Unknown Member
edited December 2018 in Investing (Windows)
To those Canadians ...

What is the preferred method of tracking GICs using Q2018 Deluxe? I have GICs that are within RRSPs and some non-registered? Any suggestions/tips would be appreciated. TIA

Comments

  • jr7107
    jr7107 SuperUser ✭✭✭✭
    edited December 2018
    I have done this in the past two methods when I had GICs, T-Bills, any kind of short term note.

    1. If the note was purchase for a discount, to mature at par, I would buy a "GIC Security" for say $97, then at maturity sell it for $97, and create a $3 income transaction for Interest Income. Drawback is that actual income accrual doesn't happen until the note matures.

    2. If the note was purchased at par with scheduled payments, I would buy a "GIC Security" for the price say $100, and create income transactions as the schedule paid. Assuming the GIC matured at par, then generate a Sell transaction for $100.

    If the principal is at risk (which if memory serves it is not), then you would sell the "GIC Security" at the price.

    To shorten the story, I really treat the GIC like an exchange traded ETF versus a Bond or other security type to simplify the process. Quicken does not care about the vehicle, and you can classify its presentation to fit your needs.
    Quicken user since 1994.
    Quicken Forum/Community Contributor since 2005.
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