How to step by step enter and track a CD (certificate of deposit) in Quicken Premier R60.20?

AMP

It seems that last year's transaction to purchase a CD and sell at maturity has been classified as un-catigorized. What to correct steps? How does one properly classify the earned interest?

NotACPA

Need a bit more info before responding to your questions: How did you acquire the CD? Was it purchased directly from the bank at face value, or did you buy it on the market in a brokerage account (a "brokered" CD)?

Also, where are you holding this cd? At the originating bank, or in a brokerage account?

AMP

Perhaps I replied earlier. The purchase was made via brokerage account at Schwab.

NotACPA

Assuming that this CD is still held at Schwab, I'd create it as a security in your Schwab account. Noting in the name of the CD the face value and purchasing it as if it were any other security.

If you purchased at Par, it gets easy … just record the interest payments as appropriate and when it matures, sell it for face value.

If NOT at par, you'll still sell it at face value when it matures … but you'll have a CapGain/Loss also.

If you sell, before maturity, you'll once again have CapGain/Loss issues.

NOTE that there is, in Q, no "mature this security" action. They're removed via sell actions.