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Posted by John Pollard on March 6, 2007, 4:06 pm
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George Smith wrote:
> "John Pollard" wrote:
>
>> I think the discussion will bog down unless we can
>> eliminate the term "portfolio"; it just doesn't fit your
>> problem when looked at from a Quicken viewpoint. The
>> basic Quicken unit related to your situation is the
>> Quicken account: you can have as many Quicken accounts
>> as you like, but there is no such thing as a
>> "sub-account" in Quicken, so you can not lump multiple
>> Quicken accounts together and treat them as one account.
> You are right on the mark here. I understand that the word
> in Quicken is "Account". You also answered that crucial
> question that I was seeking an answer for. Amazingly,
> (or deliberately?), the documentation does not answer
> this simple question -- one cannot group accounts into
> another account. Quicken does not seem to understand
> recursion!
>> While Quicken accounts are normally intended to mirror
>> real-world accounts, it is possible to set up Quicken
>> accounts almost anyway you like ... unless you intend to
>> download to them. If you want to download, you have no
>> choice but to have your Quicken accounts setup as your
>> financial institution expects them.
> You seem to be clairvoyant. This is what I was suspecting
> all
> along. It never asked me *how* I would want to set up
> things
> when it downloaded the T. Rowe Price data. As we have
> a bit of stuff in that fund group, the choices seem to be
> either i) gruesome clutter, ii) hand entry for the TRP
> type
> places or iii) a professional investment package.
>
>> When it comes to Quicken investment accounts; every one
>> (except a Single Mutual Fund account) can hold multiple
>> securities.
>
> I do also understand that the a given
> "Account" can have multiple securites -- as the Vanguard
> Account I have. I am sure that the brokerage accounts
> will also work fine.
>
>> Many financial institutions allow multiple securities in
>> their real-world accounts and will download transactions
>> for the multiple securities to a single Quicken account.
>
>> But some financial institutions require each mutual fund
>> to be in a separate real-world account and will only
>> download transactions for one real-world account to one
>> Quicken account; in that case you have no choice, if you
>> want to download: one Quicken account per fund.
>
> Touche! Thanks for the reiteration. It is what I
> suspected.
>
>> In some cases, I believe, the financial institution will
>> offer the option to have one account per fund, or to
>> have all funds in one account: it's up to you to find
>> out from your financial institutions what they require,
>> or allow.
> As I have been entering data by hand all these
> years, entering the TRP data alone by hand will not
> be an onerous task. It is something I am sure I can
> do once a quarter :-)
Just to be clear: are you saying you would prefer to manually
enter your TRP transactions into a single Quicken account than
to download your TRP transactions to multiple Quicken accounts?
Have you asked TRP if you can change your holdings there so that
all your funds are in one TRP account, so that one TRP account
can download to one Quicken account? I think Vanguard offers
that option. And I think Fidelity did too, if I moved all my
holdings to a Fidelity "Brokerage" account.
> Now, if you will be so kind to say *how* exactly I can
> lump the TRP data I already have into one "Account",
> I would be much obliged. I have a dreadful feeling
> that I may have to do things again by hand .....
> I can set up a new account and say it is not held
> in a financial institution. In that account I can dump
> the TRP funds. But, can I read in the data that I
> already have in Quicken into this new account?
Export each old account to a separate qif file; import each qif
file to the new account (using instructions in the following
post).
http://tinyurl.com/f5rao
> I think that this will be the make or break answer!
> I am primarily interested in investments and not the
> least bit interested in stuff like paying my telephone
> bill.
>
> Thanks for your clear, concise explanations. It confirms
> my suspicions and mirrors what I have heard from others
> who have tried and given up on Quicken.
--
John Pollard
First initial underscore Last name at mchsi dot com
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