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Investment account with linked cash account - Quicken Canada

Ram
Ram Member ✭✭
I hope someone can explain befits of having a linked cash account with an investment account.

I have setup accounts by both - link and not link. I do not see any benefits

Hope someone can clarify
Thanks

Answers

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    If you have a brokerage account that allows you to write checks you can’t do that from a standard investment account.  By linking a checking account you can do such operations in it.
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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited March 14
    Actually you can write and print checks without the linked account by clicking on Enter Transactions and picking Write Check.

    In general Quicken assumes you want to keep investing and spending accounts separate, and in my experience it is cleaner if you set things up that way.

    IMO linked checking accounts are intended for people who use the cash in an investing account to pay daily expenses.

    The Help says that if you want to use an investing account with bill and income reminders, it must have a linked account but I think that is not true any more.
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  • Ram
    Ram Member ✭✭
    Thanks to all for help

    I do not print checks

    I always use my bank or credit card accounts to pay bills

    If I need more funds I transfer from an investment account to bank account
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited March 14
    Then there is no need for a linked account. If a linked account is already set up, you can normally turn the option and with some screen flashing etc Quicken will move the cash transactions and the cash balance back to the investing account. Be sure to back up your data first in case the result is not what you expected.
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