removing shares to pay investment fees

Amy Sewell

My investment account sells small amounts of shares to pay quarterly fees. How do I enter payment of fees, with selling of shares?
Thanks

jacobs

In Quicken Mac, you need to first record the sale transaction, which creates cash in your investment account, and then then record a second transaction to use the cash for the payment.

That second transaction uses a Type of "Payment/Deposit" (the last choice on the "Type" drop-down menu). The Payment/Deposit transaction is like a transaction in a banking account: you can enter a Payee and an expense category if you wrote a check or you can assign a Transfer account if you moved the money to another account. In your case, the Payee would be the name of the financial institution, and the category would be whatever expense category you use to track the investment fees.

Amy Sewell

By the way, I enter my transactions manually.

jacobs

In Quicken Mac, you need to first record the sale transaction, which creates cash in your investment account, and then then record a second transaction to use the cash for the payment.

That second transaction uses a Type of "Payment/Deposit" (the last choice on the "Type" drop-down menu). The Payment/Deposit transaction is like a transaction in a banking account: you can enter a Payee and an expense category if you wrote a check or you can assign a Transfer account if you moved the money to another account. In your case, the Payee would be the name of the financial institution, and the category would be whatever expense category you use to track the investment fees.

Amy Sewell

Thanks. That looks cleaner than what I was doing, which is to "sell" the shares for no cash but put in a commission in the amount of the fee.
These are small amounts, taken out quarterly.