How to Transfer/Convert an Other Asset type to an Investment Account
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WaltW
Member ✭✭
Hi
Many many years ago when I started Quicken I set up all my brokerage, IRA accounts and several individual stocks as Other Asset type accounts. I manually update values at month end and record unrealized gains/losses to mark to market. So currently I have about 10 Other Asset accounts showing the lump sum balances (cash & securities) in each account. Now I want to somehow recreate these accounts as Investment Accounts so I can use Quicken online services to update balances and show individual security details. Is there some way I can move my existing lump sum balances to become the opening balances into new Quicken Investment Accounts. What might be the process to do all this? Any suggestions would be greatly appreciated. Thank you
Walt
Many many years ago when I started Quicken I set up all my brokerage, IRA accounts and several individual stocks as Other Asset type accounts. I manually update values at month end and record unrealized gains/losses to mark to market. So currently I have about 10 Other Asset accounts showing the lump sum balances (cash & securities) in each account. Now I want to somehow recreate these accounts as Investment Accounts so I can use Quicken online services to update balances and show individual security details. Is there some way I can move my existing lump sum balances to become the opening balances into new Quicken Investment Accounts. What might be the process to do all this? Any suggestions would be greatly appreciated. Thank you
Walt
0
Best Answer
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I suggest you go ahead and set up your brokerage account(s) as they will download securities and share balances as of the date that the FI goes back to. Note, however, that you will most likely wind up with "placeholders" for the securities because they will be missing past details as to purchase dates and price paid. So, bottom line is that you need not worry about your "lump sum balances".
HTHQuicken Business & Personal Subscription, Windows 11 Home
5
Answers
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I suggest you go ahead and set up your brokerage account(s) as they will download securities and share balances as of the date that the FI goes back to. Note, however, that you will most likely wind up with "placeholders" for the securities because they will be missing past details as to purchase dates and price paid. So, bottom line is that you need not worry about your "lump sum balances".
HTHQuicken Business & Personal Subscription, Windows 11 Home
5 -
Thank you! I'll give it a shot in a test file.0
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OR, you could try it in your real file ... IF you take a backup first. You can always revert to that backup should things go astray.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0
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