nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

downloading/Entering brokered CDs in Quicken

CTS

My question is whether Quicken/Broker download shows my CD transaction correctly.

I had bought $300,000 in a CD from my broker. It downloaded as follows:

When Sold, Quicken shows it as follows:

My Broker Statement showed the interest and dividends for the CD as follows:

It appears in quicken, everything that happened on the day I sold got lumped into one transaction. This included selling the CD for the $300,000, the Interest on the CD at $9,872.88, and the Dividend on on unrelated security for $255.52.

Is the above appropriate as far as quicken tracking is concerned, or should I manually split stuff out and have it entered in a different manner?

Find more posts tagged with

Comments

Sceptic

@CTS I am not sure why your broker showed an add and then an internal transfer? In my opinion the when you purchased the CD it should have been with a Bought transaction (not a bond purchase) and when you sold the CD or when the CD matures it should have been done with a Sold transaction. The interest should have been a simple interest transaction shown separately from the sale or maturity.

In my opinion, this is an issue with the update file from the FI.

Tom Young

These are manifestly not the correct accounting entries, though I can't tell you, exactly, how to make the correct entries due to lack of information.

You bought some security, you sold some security and there's no "MiscInc" or "MiscExp" element in a typical purchase and sale. (For accounting purposes a "maturity" is exactly the same as a "sold" transaction, with the money received divided between the "basis returned" element (for possible gain or loss) and the "interest" element, as Quicken has no "Maturity" Action.

When you buy a CD or Bond there's typically an element of "accrued interest" due or payable, so I probably use a "Bond Bought" Action here.

Sceptic

@Tom Young Thank you for pointing out why you would use a bond bought. I have only bought brokered CDs when they were issued, so I never had to deal with accrued interest.