"Plan Servicing Credit"?
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jefferyn
Member ✭✭
Greetings,
Does anyone have any advice how to handle "plan servicing credits" in Quicken accounts?
I've been keeping track of my retirement account in Quicken since the early 2000's. in the last few years, the retirement company issued a credit a few times and called it "plan servicing credit". It just shows up as "buy" category in quicken. but that changes the cash balance on the retirement account because the funds appeared without showing an addition into the account.
when there is interest that is automatically reinvested, quicken has the transaction as "reinvest interest", which doesn't change the cash balance.
is there some similar category for quicken to handle the "servicing credits" that don't change the account cash balance column?
thank you for any advice.
Jeffery
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Quicken Version 5.12.5
MacOS 10.13.6
Does anyone have any advice how to handle "plan servicing credits" in Quicken accounts?
I've been keeping track of my retirement account in Quicken since the early 2000's. in the last few years, the retirement company issued a credit a few times and called it "plan servicing credit". It just shows up as "buy" category in quicken. but that changes the cash balance on the retirement account because the funds appeared without showing an addition into the account.
when there is interest that is automatically reinvested, quicken has the transaction as "reinvest interest", which doesn't change the cash balance.
is there some similar category for quicken to handle the "servicing credits" that don't change the account cash balance column?
thank you for any advice.
Jeffery
--
Quicken Version 5.12.5
MacOS 10.13.6
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Best Answer
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You refer to a "Buy" action in Quicken and your objection to that action is that it reduces cash. But a "Buy" action also increases your holdings of a security, which apparently is correct.To increase your holdings in a security without affecting cash use an "Add" action instead of the downloaded "Buy", if the Mac program has that particular action.6
Answers
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You refer to a "Buy" action in Quicken and your objection to that action is that it reduces cash. But a "Buy" action also increases your holdings of a security, which apparently is correct.To increase your holdings in a security without affecting cash use an "Add" action instead of the downloaded "Buy", if the Mac program has that particular action.6
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@Tom Young Yes, Quicken Mac works the same in that regard; changing the transactions from Buy to Add Shares will retain the addition of shares without affecting the cash balance. (It could also conceivably be entered as a Reinvest Dividend transaction, depending on whether this would be considered a type of dividend for tax purposes or not -- which is above my pay grade!
) Quicken Mac Subscription • Quicken user since 19930 -
that works fine.
thank you!
jeffery0
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