Can I separate a money market checkbook register within a brokerage account? (Q Mac)

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Phyllis Ann
Phyllis Ann Member ✭
edited March 2022 in Registers & Transactions (Mac)
Hi all, I have a brokerage account which is mostly for investment growth but is also sometimes used to pay bills. I have connected that account to Quicken automatically, which is very convenient, but I don't seem to be able to keep a record of those expenses anywhere, and I need to for tax purposes.

What I would like to do is keep the money market part of the account in a separate checkbook register, if possible, while still keeping the money in this brokerage account. Is that possible, or would I have to just open a separate checking account and forgo the convenience of having this all in one place?

Thanks for any instructions or advice you may have. -- P
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Best Answer

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Answer ✓
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    Does it not work for you to use your investment account itself as your "checkbook" for this account? That is, you can enter your payments in the investment account (using a transaction type of "Payment/Deposit"), just as you would in a checking account — and all those categorized expenses will show up in your reports. If the money market account is showing in the account as cash, leave it that way, and use the cash to pay your bills. If the money market fund is showing in the account as a separate security, you can do the same thing with an extra transaction: first, sell the shares from the money market fund, creating cash, then enter your expense using the cash. In either case, the value of your brokerage account at the financial institution will match Quicken.
    Quicken Mac Subscription • Quicken user since 1993

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Answer ✓
    Options
    Does it not work for you to use your investment account itself as your "checkbook" for this account? That is, you can enter your payments in the investment account (using a transaction type of "Payment/Deposit"), just as you would in a checking account — and all those categorized expenses will show up in your reports. If the money market account is showing in the account as cash, leave it that way, and use the cash to pay your bills. If the money market fund is showing in the account as a separate security, you can do the same thing with an extra transaction: first, sell the shares from the money market fund, creating cash, then enter your expense using the cash. In either case, the value of your brokerage account at the financial institution will match Quicken.
    Quicken Mac Subscription • Quicken user since 1993
  • Phyllis Ann
    Phyllis Ann Member ✭
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    Thank you! I didn't realize this was a possibility.
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