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Posted by Jeff on June 26, 2006, 5:02 pm
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Using Quicken Deluxe 2006 in Windows.
In my investment accounts, loose cash is automatically invested by the
brokerage into a money market fund. When stock purchases are made, the
broker simply draws the necessary funds from the money market account.
However the brokerage does this by issuing a "sold" transaction from the
money market fund.
For instance to get $500 for a stock purchase, the brokerage sells 500
shares of the money fund at $1 each and vice versa when money is deposited
into the account.
My question is the following: Since the money market fund really simply
represents cash - much like money in a savings account gaining interest - is
there a way to make Quicken treat it simply as cash, not an equity with $1
shares? It would make for less "transactions" and make it easier to
maintain a meaningful cash balance.
Thanks.
Jeff
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