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problem adding CD (term deposit) to my bank account

britbunkley

I am able to follow the instructions of adding a CD to securities https://www.quicken.com/support/how-add-certificate-deposit-cd-quicken-security-list
however, although the CD appears on the “security” list, it does not appear on any account. Also, I cannot find where to enter the money amount for the CD (term deposit).

Any suggestions?

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Jim_Harman

Did you buy this CD through a broker, or is it a bank account? These are usually handled differently in Quicken.

britbunkley

They are through 2 New Zealand Banks. I have manually added my 6 NZ bank accounts - 3 types of savings accounts, one joint savings account, one checking. All are in 2 banks (ANZ and Kiwibank). Each checking and savings account needs to be added manually as separate accounts. I can’t seem to put by CD’s under the Bank headings, and as mentioned, I can’t put a monetary amount on them.

Tom Young

Those instructions, I believe, assume the transaction occurred in an "Investment" Account, where a CD can be bought and sold just like any other security. I think all you'll be able to do here if the Accounts are checking and savings Accounts is to make a deposit into the Account in the same amount as the initial CD.

Sherlock

britbunkley said:

They are through 2 New Zealand Banks. I have manually added my 6 NZ bank accounts - 3 types of savings accounts, one joint savings account, one checking. All are in 2 banks (ANZ and Kiwibank). Each checking and savings account needs to be added manually as separate accounts. I can’t seem to put by CD’s under the Bank headings, and as mentioned, I can’t put a monetary amount on them.

If you would like the CD's under the Bank headings, I suggest you create an offline Savings account for the CD transactions. If you want the CD under Investing, I suggest you create an offline Brokerage account for the CD transactions.

britbunkley

Thanks. I had added several off line NZ accounts (for saving and checking). And added another one that I simply called "ANZ Term deposits" for CD's. How do I put my 5 CDs into this account...with a monetary value?

I did go into "securities" and created one CD. It is in the "security list" but I cannot seem to put it's value/monetary amount into it, or place it in the term deposit account.

Sherlock

britbunkley said:

Thanks. I had added several off line NZ accounts (for saving and checking). And added another one that I simply called "ANZ Term deposits" for CD's. How do I put my 5 CDs into this account...with a monetary value?

I did go into "securities" and created one CD. It is in the "security list" but I cannot seem to put it's value/monetary amount into it, or place it in the term deposit account.

Again... If you would like the CD's under the Bank headings, I suggest you create an offline Savings account for the CD transactions. You may create an account for each CD or maintain them in one account. The purchase is a transfer to the account. The termination is a transfer from the account. You may track the interest payment in the account and, if appropropriate, transfer the interest payment from the account.

Again... If you would like the CD under Investing, I suggest you create an offline Brokerage account for the CD transactions. The purchase is a BoughtX action transaction for each CD. The termination is a SoldX action transaction for each CD. You may track the interest in the account with an IntInc or IntIncX action transaction for each CD.

Jim_Harman

In a Banking account the CDs are not securities, they are cash deposited in the account with interest paid.

In the US, banks generally treat each CD as a separate account. You deposit 10,000 or whatever at the beginning, record each CD's interest in its account, and withdraw the balance when the term is up.

Since you are recording the transactions manually, you can do that or treat all the CDs as one big account.

britbunkley

So each CD is a separate account? That will work. Thanks.

volvogirl

Either way you want to do it. An account for each CD or one account for all of them. Or a mixture of accounts. Then when you open a CD it will be transfer from your checking or savings account to the CD account. The deposit has to come from somewhere.

britbunkley

Since Quicken will not link to NZ banks, I've decided that its easier to have a separate account for each CD. I'll just periodically update my NZ bank accounts (weekly?) and as the CD's mature. It works. Thanks for your help.