Setting up a money market account in an IRA
Best Answers
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Hi @njcarson8,
You just need to set up a new security in Quicken that won't have a ticker symbol, then you'll need to enter income and potentially other transactions manually.
To set it up: (N.B. - these instructions are from the Windows version, so they may differ slightly from the Mac version):
1) Go to "Tools" and then "Security List" and click on "Add Security";
2) At the bottom of the pop-up you should see a "click here to enter it manually" button - click it.
3) That should take you to a screen where you can enter the "name" of the money market fund and select "Money Market as the "type";
4) On the next screen select "Single Fund" and "unclassified";
5) Click done.
Let us know how this works for you.
Frankx
Quicken Home, Business & Rental Property - Windows 10-Home Version
- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -5 -
The stray cash in our (mine & wife's) retirement brokerage accounts I just leave as CASH.Much simpler than manipulating all of the buy and sell transactions of the MMF anytime that there's a change in stock/fund holdings or dividends.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP5
Answers
-
Hi @njcarson8,
You just need to set up a new security in Quicken that won't have a ticker symbol, then you'll need to enter income and potentially other transactions manually.
To set it up: (N.B. - these instructions are from the Windows version, so they may differ slightly from the Mac version):
1) Go to "Tools" and then "Security List" and click on "Add Security";
2) At the bottom of the pop-up you should see a "click here to enter it manually" button - click it.
3) That should take you to a screen where you can enter the "name" of the money market fund and select "Money Market as the "type";
4) On the next screen select "Single Fund" and "unclassified";
5) Click done.
Let us know how this works for you.
Frankx
Quicken Home, Business & Rental Property - Windows 10-Home Version
- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -5 -
Thanks! I will try it when I get home tonight and let you know, but I'm sure it will do the trick. Much appreciated.0
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The stray cash in our (mine & wife's) retirement brokerage accounts I just leave as CASH.Much simpler than manipulating all of the buy and sell transactions of the MMF anytime that there's a change in stock/fund holdings or dividends.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP5 -
Frankx approach worked fine ... I see that the CASH approach would pretty much do the same thing. Thanks to both of you for you help, very much appreciated.0