How To Add a Certificate of Deposit (CD) To the Quicken Security List

Question

I am getting non matching numbers in statement (not by huge amounts, but annoying that they do not match). It centers on a Certificate of deposit. I noticed that there are choices of a security when adding new entry purchasing, BUT CDs ARE NOT ON THE LIST. I added this as BROKERAGE and now wonder if Quicken has a special way to enter a BANK Cert of Deposit?

Frankx · Accepted Answer

Hi @Pennsywoody,

A certificate of deposit issued by a bank is more akin to a bank savings account than it is to a marketable security or corporate bond.  It's generally not transferable to another party (by sale or otherwise), also the face value or principal doesn't change, and it "earns" interest, usually at a set (or perhaps variable) rate over its lifetime, which is set by bank rules/rates at purchase.  Therefore, the preferable way to record in Quicken is to set it up as a bank savings account.

I have a few CD's with a credit union and I can even download CD transactions (monthly interest earned, transfers at maturity, etc.) from the credit union right into Quicken.

Let me know if you have any follow-up questions.

Frankx