How to enter a GIC in a Quicken Savings account

A-adrift
A-adrift Quicken Canada Subscription Member ✭✭
in All Things Canadian (Mac)
How to enter a GIC in a Quicken Savings account?

Comments

  • volvogirl
    volvogirl Quicken Windows Other SuperUser ✭✭✭✭✭
    What is a GIC?  Most of the posters that answer are US users.

    I'm staying on Quicken 2013 Premier for Windows.

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    @volvogirl, a GIC is a "Guaranteed Income Contract", and they exist in the US also.
    @a-adrift, I'd be inclined to enter it as if it were a "Time Deposit" or "Certificate of Deposit" ... but it could also be recorded as an Bond type investment in an Investment account.  My preference would be the investment route.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Rocket J Squirrel
    Rocket J Squirrel Quicken Windows Subscription SuperUser ✭✭✭✭✭
    In US Quicken, CD is a built-in Security Type. If that exists in CA Quicken, that's what I'd use. Not a banking account or bond.

    Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    @Rocket J Squirrel  I agree with "not a banking account", but I suggested a bond type investment because of the long time frame of GICs.  Essentially forever until you cash it out.
    My late wife had one in an employer sponsored retirement account about 40 years ago.  It was the default, we didn't choose it.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

This discussion has been closed.

Categories