How To Add a Certificate of Deposit (CD) To the Quicken Security List
Pennsywoody
Member ✭✭
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?
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Best Answer
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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.
FrankxQuicken Home, Business & Rental Property - Windows 10-Home Version
- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -5
Answers
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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.
FrankxQuicken Home, Business & Rental Property - Windows 10-Home Version
- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -5 -
Same here - I have setup some CDs at Ally Bank - along with a Savings and MM - and they each appear as a separate bank acct - and Quicken adds them as such.....If, however, you are talking about another kind of CD where you broker it thru your bank, then that is a very different scenario -
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