How to record a Brokerage CD

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Bioman
Bioman Member ✭✭✭
edited August 2023 in Investing (Windows)

QWindows, sub. How do you record the purchase of a Brokerage CD in Quicken? The funds to purchase will come from the settlement account at my brokerage. How is the CD listed with the other investments in the account. There does not appear to be a CD option listed under transaction.

Thanks

Best Answer

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited July 2023 Answer ✓
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    There are different ways to enter brokered CDs into Quicken. A lot of it really has to do more with personal preference and how you want/plan to track the data in reports.

    I have quite a few brokered CDs in a few of my Fidelity Investment accounts. I have Direct Connect set up with Fidelity so the security info and the buy/sell transactions get downloaded and the market values update daily. I find that how Fidelity downloads brokered CDs meets my preferences/needs quite well.

    How Fidelity downloads brokered CDs is as follows.

    • The CUSIP is entered at the beginning of the name of the CD.
    • The CUSIP is entered as the Symbol.
    • Type = "Bond", not "CD". As it was explained to me, brokered CDs really are very, very similar to Bonds and are structured in much the same way so Fidelity treats and reports them in much the same manner. And both are sold via brokerages. The main difference is that brokered CDs are issued by banks whereas Bonds are issued by Gov't agencies and businesses….plus brokered CDs can be FDIC insured but Bonds are not.
    • Asset Class: I created a custom Asset Class of "CDs" which is the only modification to the Security Details that is downloaded that I do. This allows me to easily distinguish between brokered CDs and Bonds in various reports.

    If you download the brokered CDs from your broker, then the CUSIP should be entered into the Security Details during the download process. If you are manually entering these brokered CD securities, the CUSIP cannot be entered as the CUSIP except as noted above and as a comment in "Other Info" in Security Details.

    Also, I have not found a way to manually set up a brokered CD and have it match with the online security. So far, the only way I've found to get it to match with the online security is for the CD to be downloaded by the brokerage.

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

Answers

  • Bioman
    Bioman Member ✭✭✭
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    Thanks. Searched for this topic did not come up with this post. I have a cuspid# but could not find a way to enter it manually.

  • QWinUser
    QWinUser Member ✭✭✭✭
    edited July 2023
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    Deleted by QwinUser - Duplicate response.

  • Bioman
    Bioman Member ✭✭✭
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    Thank you for the response. I can't find where to enter the cuspid. If I put it in the symbol field, it comes up not found. Manually created the CD as a security, Once created, Edit does not have a field for the cuspid.

    Bioman

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited July 2023 Answer ✓
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    There are different ways to enter brokered CDs into Quicken. A lot of it really has to do more with personal preference and how you want/plan to track the data in reports.

    I have quite a few brokered CDs in a few of my Fidelity Investment accounts. I have Direct Connect set up with Fidelity so the security info and the buy/sell transactions get downloaded and the market values update daily. I find that how Fidelity downloads brokered CDs meets my preferences/needs quite well.

    How Fidelity downloads brokered CDs is as follows.

    • The CUSIP is entered at the beginning of the name of the CD.
    • The CUSIP is entered as the Symbol.
    • Type = "Bond", not "CD". As it was explained to me, brokered CDs really are very, very similar to Bonds and are structured in much the same way so Fidelity treats and reports them in much the same manner. And both are sold via brokerages. The main difference is that brokered CDs are issued by banks whereas Bonds are issued by Gov't agencies and businesses….plus brokered CDs can be FDIC insured but Bonds are not.
    • Asset Class: I created a custom Asset Class of "CDs" which is the only modification to the Security Details that is downloaded that I do. This allows me to easily distinguish between brokered CDs and Bonds in various reports.

    If you download the brokered CDs from your broker, then the CUSIP should be entered into the Security Details during the download process. If you are manually entering these brokered CD securities, the CUSIP cannot be entered as the CUSIP except as noted above and as a comment in "Other Info" in Security Details.

    Also, I have not found a way to manually set up a brokered CD and have it match with the online security. So far, the only way I've found to get it to match with the online security is for the CD to be downloaded by the brokerage.

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

  • Bioman
    Bioman Member ✭✭✭
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    Thank you for the response. I'll have to see how Vanguard handles the download. I was trying to set it up manually.

  • QWinUser
    QWinUser Member ✭✭✭✭
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    @Bioman I have set up about 50 brokerage CDs in Quicken and the setup and ongoing interest posting, price updates, and redemption (maturity) work without a hitch. My CDs are in a Wells Fargo brokerage account, but I think yours should work similarly with Vanguard. My setup is a little different than @Boatnmaniac presented. But I don't think the differences really matter. I use the CD type not Bond. I started out using Bond, but found later that there is no difference, except for CD type, you can't put in a call date. But most of the time that is a moot point. In the CD name I also note the Maturity Date and interest Rate. Makes it easier to keep track of. I also set up an asset class of "Fixed Income" rather than CD.

    I have found that it is always best to set up the CD manually first and then let the downloaded transaction to match up with it. The key is to set it up with a correct CUSIP then your CD will be matched up correctly with what Vangard has. You can verify if your CD has been linked properly is to go into "Other Info" (on the screen below) and if the CUSIP is noted there then the link is complete and correct.

    I also set up an Interest Income Reminder, so the interest is posted to Quicken before the transaction is downloaded.

    The daily prices get uploaded via the daily feed from Wells Fargo (OSU), not the pricing file.

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