| Author |
Message |
m connor
Guest
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 Posted:
Thu Nov 04, 2004 7:05 am Post subject:
money market and stocks - how to enter in Quicken? |
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I've been using Quicken for over a year to keep track of my bank
account and credit cards. But now i'd like to integrate in my wife's
stocks and her money market account with TD WATERHOUSE.
I guess all the dividends are swept into the money market. She's
written a few checks from the money market to pay a bill now and then
when we couldn't pay it from our bank account. There are a lot of
stock splits and spin-offs i don't know if i'll ever be able to keep
track of.
My question is - should i set up the money market account in Quicken
seperate from the stock portfolio?
any articles about how to handle this would be appreciated.
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BobH
Guest
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| Posted:
Thu Nov 04, 2004 10:18 am Post subject:
Re: money market and stocks - how to enter in Quicken? |
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m connor wrote:
| Quote: | I've been using Quicken for over a year to keep track of my bank
account and credit cards. But now i'd like to integrate in my wife's
stocks and her money market account with TD WATERHOUSE.
I guess all the dividends are swept into the money market. She's
written a few checks from the money market to pay a bill now and then
when we couldn't pay it from our bank account. There are a lot of
stock splits and spin-offs i don't know if i'll ever be able to keep
track of.
My question is - should i set up the money market account in Quicken
seperate from the stock portfolio?
|
Assuming that the cash dividends go into a money market that
is associated with the account, I would suggest keeping it with
the TD Waterhouse brokerage account within Quicken.
Makes it easier to reconcile.
With my version of Q2001 when a "Dividend" action occurs,
the dividend goes into the "Cash" category of the account.
This should coincide with your money market total. Use the
"IntInc" action for money market interest.
Another option, though a bit more work, is create a security
which corresponds to the money market. When you have
a "Dividend" which goes to "cash", add another transaction
to "buy" into the money market. This is how I handle my
cash to keep track of the rate of return.
B |
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Charlie48K
Guest
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| Posted:
Fri Nov 05, 2004 1:51 am Post subject:
Re: money market and stocks - how to enter in Quicken? |
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google@rocketnumber9.org (m connor) wrote in message news:<9805b46b.0411031805.36e7343f@posting.google.com>...
| Quote: | I've been using Quicken for over a year to keep track of my bank
account and credit cards. But now i'd like to integrate in my wife's
stocks and her money market account with TD WATERHOUSE.
I guess all the dividends are swept into the money market. She's
written a few checks from the money market to pay a bill now and then
when we couldn't pay it from our bank account. There are a lot of
stock splits and spin-offs i don't know if i'll ever be able to keep
track of.
My question is - should i set up the money market account in Quicken
seperate from the stock portfolio?
any articles about how to handle this would be appreciated.
|
When you set up the brokerage account in Quicken and it asks if you
have a linked cash balance, say yes. The money market fund should be
set up as a security and listed with the other securities in the
brokerage account. Dividends will be shown as (and will electronically
download from TD Waterhouse) as a deposit to cash and then an
automatic purchase of your money market fund. Checks should be
entered in the linked cash account and will also download into that
acount for reconciliation. Checks will cause an automatic sale of the
proper amount of the money market and a sweep of the cash to the
linked account.
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Bob Weissman
Guest
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| Posted:
Sun Nov 07, 2004 1:00 am Post subject:
Re: money market and stocks - how to enter in Quicken? |
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In article <ca7bc8fa.0411041251.1a60871e@posting.google.com>,
Charlie48K <Chas_K@excite.com> wrote:
| Quote: | google@rocketnumber9.org (m connor) wrote in message
news:<9805b46b.0411031805.36e7343f@posting.google.com>...
I've been using Quicken for over a year to keep track of my bank
account and credit cards. But now i'd like to integrate in my wife's
stocks and her money market account with TD WATERHOUSE.
I guess all the dividends are swept into the money market. She's
written a few checks from the money market to pay a bill now and then
when we couldn't pay it from our bank account. There are a lot of
stock splits and spin-offs i don't know if i'll ever be able to keep
track of.
My question is - should i set up the money market account in Quicken
seperate from the stock portfolio?
|
I have accounts set up both ways ([1] with a separate, linked "checking
account" for cash and [2] with the cash balance in the brokerage account
itself). Both ways work fine. Which one you choose will largely depend
on whether you write a large or small number of checks from the account.
If you write a lot of checks, it's more convenient to use a separate
linked checking account. With the cash balance in the account itself,
you have to fake each check as a properly categorized MiscExp transaction.
| Quote: | When you set up the brokerage account in Quicken and it asks if you
have a linked cash balance, say yes. The money market fund should be
set up as a security and listed with the other securities in the
brokerage account. Dividends will be shown as (and will electronically
download from TD Waterhouse) as a deposit to cash and then an
automatic purchase of your money market fund. Checks should be
entered in the linked cash account and will also download into that
acount for reconciliation. Checks will cause an automatic sale of the
proper amount of the money market and a sweep of the cash to the
linked account.
|
This approach will work fine, of course. But IMO, tracking the money
market fund as a security causes extra complexity (i.e., double the
number of transactions) and doesn't have any real advantage.
Since the MMF's share price is always $1, you can simply pretend the MMF
doesn't exist and consider it to be the cash balance in the linked
checking account.
- Bob |
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John Pollard
Guest
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| Posted:
Sun Nov 07, 2004 2:27 am Post subject:
Re: money market and stocks - how to enter in Quicken? |
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Bob Weissman wrote:
| Quote: | In article <ca7bc8fa.0411041251.1a60871e@posting.google.com>,
Charlie48K <Chas_K@excite.com> wrote:
google@rocketnumber9.org (m connor) wrote in message
news:<9805b46b.0411031805.36e7343f@posting.google.com>...
I've been using Quicken for over a year to keep track of
my
bank account and credit cards. But now i'd like to
integrate in my wife's stocks and her money market account
with TD WATERHOUSE.
I guess all the dividends are swept into the money market.
She's written a few checks from the money market to pay a
bill now and then when we couldn't pay it from our bank
account. There are a lot of stock splits and spin-offs i
don't know if i'll ever be able to keep track of.
My question is - should i set up the money market account
in Quicken seperate from the stock portfolio?
I have accounts set up both ways ([1] with a separate, linked
"checking account" for cash and [2] with the cash balance in
the brokerage account itself). Both ways work fine. Which one
you choose will largely depend
on whether you write a large or small number of checks from
the
account. If you write a lot of checks, it's more convenient to
use a separate linked checking account. With the cash balance
in the account itself,
you have to fake each check as a properly categorized MiscExp
transaction.
|
With Q2004 and later (Q2003?), this is no longer true. Q2004
allows you to write checks (it has a "Write Check" "Action)
directly from the investment account cash balance.
| Quote: | When you set up the brokerage account in Quicken and it asks
if you
have a linked cash balance, say yes. The money market fund
should be
set up as a security and listed with the other securities in
the brokerage account. Dividends will be shown as (and will
electronically download from TD Waterhouse) as a deposit to
cash and then an
automatic purchase of your money market fund. Checks should
be
entered in the linked cash account and will also download
into that acount for reconciliation. Checks will cause an
automatic sale of the proper amount of the money market and
a
sweep of the cash to the
linked account.
This approach will work fine, of course. But IMO, tracking the
money market fund as a security causes extra complexity (i.e.,
double the number of transactions) and doesn't have any real
advantage.
|
Depending on your version of Quicken, there may be an advantage
to carrying your mm cash as a mutual fund in the investment
account instead of a linked cash account. In Q2002 (and earlier
I would guess), linked cash accounts are not available for asset
allocation nor do they appear in most (all?) investment
reports/graphs.
| Quote: | Since the MMF's share price is always $1, you can simply
pretend the MMF doesn't exist and consider it to be the cash
balance in the linked checking account.
- Bob
|
--
John Pollard
First Last at Bellsouth dot net
Please reply to newsgroup |
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