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Estimated Income-----Bank CD's-----

I probably have two dozen separate bank CD's in my investment accounts. They are all set up for on line downloads. NOne of these are shown when I click on securities in the tools menu.
Is there any way to link these CD's in order to set up Estimated Income amounts?
(I tried to set up one as a security manually but can't figure out how to link it to the existing register with the same name.

Answers

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    There are two basic setups available.  Start here:
    https://community.quicken.com/discussion/7862527/how-to-enter-and-track-a-cd-certificate-of-deposit

    You will only get the "Estimated Income" feature if you set up each CD as a separate security.
  • Gary R
    Gary R Member ✭✭
    Maybe I need to try and explain my question more clearly.
    I still want to be able to download my monthly transactions into my two dozen bank accounts. I know how to set up each account as a separate security. I don't know how to link the two to become just one security. The only reason that I want to see the account as a security is to be able to set up extimated income.
    Hope this a bit clearer.
    Thanks
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    If you want to see the estimated income, they must be set up as investment securities in a brokerage account in Quicken. You can have multiple CDs in one brokerage account.

    If you bought them directly from banks and want to download transactions they must be set up as bank accounts in Quicken.

    As far as I know you must choose one setup or the other. 
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  • Gary R
    Gary R Member ✭✭
    Thanks, Jim
    They are CD's directly from the bank and downloaded monthly from the bank. Problem is no estimated earnings since not set up as a security.

    I was hoping there was a way to link the account with the security for the same CD.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Gary R said:
    Thanks, Jim
    They are CD's directly from the bank and downloaded monthly from the bank. Problem is no estimated earnings since not set up as a security.

    I was hoping there was a way to link the account with the security for the same CD.
    I suggest you considered using income reminders for the expected interest from the CD accounts.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Sherlock's idea is good, or you could set up a dummy security called "Bank CDs" or whatever held in a dummy investing account.

    Price the security at $1.00 and periodically Add or Remove enough shares to match the value of your CDs. Set the expected income to match the average interest rate of your CDs, .015 if it is 1.5% for example.

    -- Thanks, Quicken for now allowing 4 decimal places in the expected income entry!
     --

    To prevent the dummy investing account from affecting your net worth and reports, mark it Separate and Hidden but include it in the Portfolio view where you want to show the estimated income.


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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Personally I would go with @Sherlock's suggestion for a number of reasons.
    1. It avoids a second account.
    2. These are for fixed percentage and as such are only off because the number of days in the month and the compounded interest.  Both of which are minor with such a low percentage that CDs are paying these days and the amount per month can be adjusted periodically.
    3. The income reminders will show up on the projected balances and such.  The predictions for income for an investment account will only be visible on the portfolio/reports.
    4. Note that you can group your CDs with your investment accounts by changing their "intent" (Right click on the account name in the account bar -> Edit/Delete account -> Display Options -> Account intent).  This will allow you to see them in the Portfolio which will give you at least the average annual return numbers.
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  • Gary R
    Gary R Member ✭✭
    I appreciate all the comments but was hoping for an easy solution to my issue.
    I think I'll just do an Excel spreadsheet listing all my CD's with estimated income until they mature. I have another issue that I post separately since it has nothing to do with Estimated Income.
This discussion has been closed.