When I buy a CD, the Buy Bonds changes to Purchase Shares

John16
John16 Member ✭✭
edited August 19 in Investing (Windows)

Is this a bug or a feature? I put in to Buy Bonds, it accepts the Name 'ABC Bank 4.5% CD matures 7/15/26' shares=100 @ price=100 for a total of $10,000. Just like it works for bonds. Hit Done/Done. But when I look at the entry is says Buy-Shares Bought.

What's up?

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Answers

  • [Deleted User]
    [Deleted User]
    edited July 19

    @John16 if there wasn't any accrued interest associated with the CD purchase, then a "Bonds Bought" transaction is not needed to purchase brokered CDs on Quicken. That is probably why it changed to a "Buy".

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    What you are seeing is normal recording. The BuyBond action is really more of a wizard-type action that translates what you “know” (I bought a $1,000 bond for $950 with some accrued interest) into what Quicken needs (you Bought 10 ‘shares’ at $95 each and also get a MiscExp transaction for the accrued interest you ‘owe’).

    It’s possible that at some point they did record a BuyBond transaction - I don’t recall specifically - but they don’t now. Same goes for the sell bond action.

  • [Deleted User]
    [Deleted User]
    edited July 19

    @John16 my comment wasn't entirely correct. As @q_lurker mentioned a "Bonds Bought" transaction with accrued income will result in two transactions - a "Buy" and "MiscExp". Since you did not have any accrued income, it just created a "Bought" transaction. The "Bonds Bought" doesn't actually change to a "Buy".

    @q_lurker thanks for clearing that up for me. I just knew that you would use a Bonds Bought if you had accrued income, but I didn't know the mechanics of it.

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