Seeking advice on use of Asset Accounts and Registers
Until I am more experienced in creating asset accounts for my investments in order to take advantage of Quicken’s robust reporting capacity, how can I create a simple “register’ for each account which will give me the month, quarter or year-end balance for that investment? And under the “new account” screen, what kind of account would I select?
For my simple purposes, I don’t (yet) find it necessary to download all the detailed activity from my brokerage firm for each of my investments (15 to 20 of them and about the same amount for my spouse). All I want to record is the value of a balance as of a particular calendar point in time and have that balance appear in a simple register carrying the identification of the asset account.
The resulting monthly or quarterly or yearly register entries would be manually created by me in the register noting the value increase or decrease of the balance over the previous period’s balance. I do not need the account to appear in any other report than my net worth statement, or I need to block it if it does.
I won’t use such a simple register to assess the success of the investment, just the record of its value. My financial adviser provides me the answers on strategy, performance, fees, etc., some of which I know would be available in a more full-blown utilization of Quicken’s asset management reporting in context of downloading the components of each investment’s statement.
Yes, I realize this simple register would likely be replaced in total when I do take the steps to fully utilize Quicken’s investment account management and reporting prowess.
But I need to get on with something simple for a net worth statement!
