how to input fees into investment account

Unknown
Unknown Member
edited November 2018 in Investing (Windows)
How do I add maintenance fees into an investment account. I'm using Quicken 2013

Comments

  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    edited October 2018
    Are they deducting the fees from your account?



    This is how I manually enter my monthly 401k fees which are less than 1 dollar......


    
1. Do a SELL


    
2. Enter: Date, Name, # of Shares, Price



    3. Change the Sale Amount to the amount of the Fee then TAB back to Lots
Recalculate box should open - Choose Price - OK



    4. Then TAB back to Commission and put the Fee into the Commission Box
Sale Amount should change to zero!




    The key is to TAB back to the prior fields without hitting enter.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
    In a taxable account, I think you should record the sale with no commission then use a separate Misc Expense transaction to withdraw the fee, assigning it to a category of "Brokerage fee" or whatever.

    volvogirl's approach records proceeds of zero for the sale, leading Quicken to calculate a wrong value for the capital gain on the shares sold to cover the fee.

    Interestingly, these approaches also have different impacts on Quicken's performance tracking in the Investment Performance report.

    With the fee recorded as a Misc Expense, it is treated just like any other withdrawal, so it is included in the Returns column and the report is showing the raw performance of the underlying securities. This would make sense if you got some benefit from the fee.

    With the fee recorded as a commission, it is not included in the Returns column and thus it reduces the reported performance. This treats the fee as a drag on the performance.
    QWin Premier subscription
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