How to show CD market value that includes accrued interest?

Tnhiker
Tnhiker Quicken Windows Subscription Member ✭✭
in Investing (Windows)

I've noticed that Merrill Lynch includes accrued CD interest in their market value calculations. How can I get my Quicken Classic for Windows to automatically include accrued interest in the market value display?

Answers

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

    Could you explain that a bit?

    Is "their market value calculation" something you see on their website and you'd like to have match? So, for example, a new $1,000 CD you purchased "grows" each day as interest accrues?

    If that's the case then the only way I'd think you could do that is to change the "quote" figure in Quicken such that the market value in Quicken matches what you see at ML. Of course if you do that you'd have to do some extra work at maturity to get the accounting straight.

    Or maybe I completely missed the mark?

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    @Tnhiker Is ML showing the quote for the CD as being the same as face value?

    If so, then Q has no automated way of matching ML's value … as only the face value of the security and it's current quote download. You'd need to make some entry into Q to cause it to match ML.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Tnhiker
    Tnhiker Quicken Windows Subscription Member ✭✭

    Thanks to all of you who commented. Clearly, you understand my problem. I've explored ways to make my Quicken for Home software to accurately reflect the market value declaration provided by Merrill. So far, no souctions.

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

    Actually, @NotACPA and I posited what could be understood as two different situations, so it's not clear either of us understand the problem.

    You said "Merrill Lynch includes accrued CD interest in their market value calculations" which I interpreted to mean that every day the "quote" associated with the CD changes to include the interest accrued earned that day. If that quote isn't available to you as a download then for perfect accuracy you'd have to log into ML to see the quote for that day and enter it manually. At maturity you'd revert the quote to the first day quote, "sell" the CD for that price for no gain or loss and enter the difference as interest income associated with the CD.

    So assuming my assumption is correct there's a "solution" requiring a certain amount of work on your part, but if the desired solution is to make that work automatically through downloads and the downloaded quotes aren't available then I'd say there is no solution.

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