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Posted by Fred Smith on November 8, 2007, 8:20 pm
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1. BMO Nesbitt Burns Bond Fund
Your statement should have the fund code on it (often called symbol). If it's
not there, phone BMO and ask the for it. Enter this code in the Symbol field of
the Security Detail. Make sure the Exchange is Mutual Funds. Finally, make sure
you are asking for this price to be downloaded. In One Step Update, Select
quotes to download, and make sure there is a check mark next to this security.
Once you've done this, the price should download properly.
2. Canada Savings Bond CS51
Quicken knows that all bonds are priced per $100. As Quantity x Price = Market
Value, you need to enter (ie, buy) the correct quantity. If you have a $1000
bond, enter a quantity of 10. When you buy the bond, you buy it at a price of
$100. Subsequently, with every statement, enter a price which gets you the
market value shown on the statement. Some old systems simply price the bond at
$100 and never change it. Most new systems show accrued interest, so calculate a
unit price which includes accrued interest.
3. Strip bonds
Enter quantity as Face Value / 100. Your purchase confirmation will show you the
price you bought it at (eg 84.51). Every month when you get your statement,
enter the current price. There's no such thing as downloading prices on bonds.
We don't need a dissertation on problems with your financial institution.
Everyone has experienced them. Bottom line, never throw up your hands. You can
always find a reasonable solution of how to make Quicken work for your financial
situation.
Sorry about not personally e-mailing this to you. We posters have this silly
idea that if you want free, pertinent advice, you should be willing to do follow
the procedures of the gropu. Besides, posting to the newsgroup lets others see
the answers.
Ask away.
--
Regards,
Fred
>I am using Quicken XG 2007 [Canadian version]
>
> I have NO problem with my Canadian and U.S. dollar accounts at CIBC
> I have not yet tried my account at BMO
> I have not yet tried my accounts at ING
> I still have other accounts to set up, BUT
>
> I have a number of cut coupon bonds and a bond mutual fund and canada
> compounding savings bonds in my retirement savings plan accounts. I
> cannot figure out how to get current market for any of them. Using the
> return of capital negative number changes the cash position in the
> accounts and that is wrong, since the cash is unchanged... The
> original purchase prices are also correct. That keeps showing as the
> market price too, and these are bonds that I cannot find any symbol
> for.
>
> How are these handled? How do I get current market value to show up in
> the analysis for these funds? How do I do that without distorting the
> actual cash position of the account, which using Return of Capital
> would do?
>
> Examples include:
>
> BMO Nesbitt Burns Bond Fund [not to be found in the list of Canadian
> mutual funds that come up in the list when mutual funds are looked
> at.]
>
> Canada Savings Bond CS51
>
> Province of Ontario cut coupon bonds maturing in 2009, 2010 and 2013
> Province of British Columbia cut coupon bond maturing in 2015
> Loblaws Companies cut coupon bond maturing in 2017
> Ontario Hydro cut coupon bond
>
> You get the idea, I suspect. All were purchased at a discount, and at
> maturity will pay their face value, obviously, except the CSB, which
> will pay all accumulated interest plus principal at maturity.
>
> The fact is that there are two current values... one is the pro-rated
> difference between what was paid to buy the discounted bond and its
> maturity value, simply established by dividing the total number of
> days between the two dates by the original discount to face amount and
> adding that amount to the cost of the bond in my retirement plan, the
> other is the value in the market, which accounts for the current
> interest rate against the original discount price, which accounted for
> the then interest rate. I can get NEITHER value for these bonds.
>
> The Quicken tools do NOT find any of these financial instruments and
> do not update any of these instruments. BMO Nesbitt-Burns is a
> financial investment institution that Quicken also does not seem to
> recognise, and BMO is a bank that it no longer works with, so it is
> getting most annoying even using the product with my investments, but
> there seems to be nothing better out there.
>
> HELP!!!! [email rsh@idirect.com as well as replying in this usenet
> group if you believe you have valid suggestions.... TIA]
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