Hello. I'm new to Quicken and I'm not sure the best account type to use for RSP GIC. Thanks.

Redlin5000
Redlin5000 Member
edited February 2021 in All Things Canadian (Mac)
I'm using Quicken for Mac and these are Canadian accounts.

Best Answer

  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    Answer ✓
    I'm confused.  You say you're using Q Canada, and you're asking about a Cdn retirement account ... but your examples are all US account types..
    Since QMac supports both the US and Cda, I'd think that there would be somewhere where you could tell the program (in Preferences???) that you need the Cdn features.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • Valderi
    Valderi Member ✭✭✭✭
    RSP = Retirement Savings Plan
    GIC = Guaranteed Investment Certificates
  • I was asking what accounts in Quicken I would use for these investments.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    Looks to me like it would be an investment (the GIC, which is essentially a CD) held in an Investment account with the appropriate tax attributes set, to make the account non-taxable.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • When I look under the Accounts/New/Investments, my choices are:509, brokerage, other, trust,cusodial,401k,403,IRA,keogh,SEP IRA,SIMPLE IRA.
    I was asking which one of these accounts would be the best choice to use for a RSP GIC account. Thank.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    Answer ✓
    I'm confused.  You say you're using Q Canada, and you're asking about a Cdn retirement account ... but your examples are all US account types..
    Since QMac supports both the US and Cda, I'd think that there would be somewhere where you could tell the program (in Preferences???) that you need the Cdn features.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • OK. Thanks I will take a look and see.
  • Hi. I just checked it out under preferences, changed it to Canada and that fixed it. Thanks a lot!
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