How to do a transfer category from accounts in simple Investing to checking

Bione
Bione Quicken Windows Subscription Member ✭✭✭✭
edited January 7 in Registers & Transactions (Windows)

I have one Fidelity account that I switched to Simple Investing. When I get a monthly distribution in my checking account, how do I show it is a transfer category from there?

Answers

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Having never used Simple Investing I'm making a guess that there's no Transaction List (Register) available to you in that Investment Account?

    If that's the case then I'd think you should be able to make the entry in the Checking Account. Nothing says that a Transfer must occur in the "from" Account. So making a deposit in the Checking Account with the "Category" of [Name of Fidelity Account] should work, I'd think.

    The fact that you are referring to "monthly distribution" suggests to me you might be working with a retirement Account of some sort? If that's the case and there's taxes being withheld, then the deposit would be the NET amount received, split as the GROSS amount distributed as a Transfer from the Account, followed by entries for the deductions for taxes, coming to the net deposit.

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