Retirement account cash fee handling

Liegelord

Hoping there is a very simple thing I'm missing, but:

What "Action" is used in a retirement investing account to handle the removal of cash by the financial institution?

There is no sale of any investment instrument, just a removal of cash.

Do I need to characterize the cash balance as an investment in a money-market fund and book sales of that fund with a 100% commission? Would prefer not to complicate things like that.

Thanks!

NotACPA

But where does that cash come from?  Is there "free cash" just sitting around in the account?  If SO, within the investment account, you can use one of the "Cash Transactions" options that are all the way down at the bottom of the "Enter Transactions" drop down list in the account.

NotACPA

But where does that cash come from?  Is there "free cash" just sitting around in the account?  If SO, within the investment account, you can use one of the "Cash Transactions" options that are all the way down at the bottom of the "Enter Transactions" drop down list in the account.

volvogirl

That's what I do for fees.  My statement shows sales for them.  Like for $1.50 etc.  I enter a sale and put the amount in commission.  I'm sure that's wrong but I've always done it that way.  Keeps the number of shares right.  Well within a reasonable amount.

Liegelord

@NotACPA

Thanks! That's what I was looking for - right there under a different button!

They are cash dividends being taken away by the brokerage firm. The "Action" menu where I enter most other transactions didn't offer the correct option for that. I will remember that the button has expanded options!