When I buy a CD, the Buy Bonds changes to Purchase Shares

Question

Is this a bug or a feature?  I put in to Buy Bonds, it accepts the Name 'ABC Bank 4.5% CD matures 7/15/26'  shares=100 @ price=100 for a total of $10,000.  Just like it works for bonds.  Hit Done/Done.    But when I look at the entry is says Buy-Shares Bought.

What's up?

[Deleted User] · Answer

@John16 my comment wasn't entirely correct.  As @q_lurker mentioned a "Bonds Bought" transaction with accrued income will result in two transactions - a "Buy" and "MiscExp".  Since you did not have any accrued income, it just created a "Bought" transaction.  The "Bonds Bought" doesn't actually change to a "Buy".

@q_lurker thanks for clearing that up for me.  I just knew that you would use a Bonds Bought if you had accrued income, but I didn't know the mechanics of it.

q_lurker · Answer

What you are seeing is normal recording. The BuyBond action is really more of a wizard-type action that translates what you “know” (I bought a $1,000 bond for $950 with some accrued interest) into what Quicken needs (you Bought 10 ‘shares’ at $95 each and also get a MiscExp transaction for the accrued interest you ‘owe’).

It’s possible that at some point they did record a BuyBond transaction - I don’t recall specifically - but they don’t now. Same goes for the sell bond action.

[Deleted User] · Answer

@John16 if there wasn't any accrued interest associated with the CD purchase, then a "Bonds Bought" transaction is not needed to purchase brokered CDs on Quicken.  That is probably why it changed to a "Buy".