Margin loans in Quicken

Posted by Mike N on June 25, 2008, 6:31 am

Please log in for more thread options

Anybody using personal plus 2008, and tracking a margin loan ?
I'm just using a negative balance in the brokerage cash account as the loan,
it seems to work OK (only a few transactions ) but is there a better way ?
Mike

Posted by R. C. White on June 25, 2008, 8:20 am

Please log in for more thread options

Hi, Mike.

I've never used any but the US versions of Quicken, and I haven't had a
margin loan in a while. But, I handle it as you said - very simply. Since
there's no due date and no repayment schedule, there's no need to set up
anything formal for the loan. It is simply a negative balance in the
brokerage cash account. The loan will be repaid automatically (in my
experience) whenever cash is deposited into the account, whether from my
pocket or from dividends or interest received or, most likely, when
securities are sold and the proceeds are collected. No entries specifically
recording the payoff are required; the cash balance will simply grow from a
big minus to a small minus to a plus.

RC
--
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
rc@grandecom.net
Microsoft Windows MVP
(Currently running Quicken 2008 Deluxe in Vista Ultimate x64 SP1)

> Anybody using personal plus 2008, and tracking a margin loan ?

> I'm just using a negative balance in the brokerage cash account as the

> loan, it seems to work OK (only a few transactions ) but is there a better

> way ?

> Mike

Posted by B on June 25, 2008, 4:24 pm

Please log in for more thread options

On 6/25/2008 5:31 AM, Mike N wrote:

> Anybody using personal plus 2008, and tracking a margin loan ?

> I'm just using a negative balance in the brokerage cash account as the

> loan, it seems to work OK (only a few transactions ) but is there a

> better way ?

> Mike

I do exactly what you're doing and, as RC said, there are no problems
and no reason to do it any other way. Even any interest which is added
to the balance downloads correctly. The balance is reflected properly
in Net Worth. It couldn't be simpler and works perfectly.

The interest category that you sue for the margin account can even be
set so that it is handled properly for tax purposes.

Bernie

Posted by taterchip on August 20, 2008, 9:26 am

Please log in for more thread options

Hi all

glad to find this topic as i too am trying to set this up.

i'm very new to Quicken (as of this week) and have most things setup
and working now, all except my Margin Loan information.

could someone please explain further or expand on the above setup
procedure for me (please allow for my level of Quicken newbness)

i have my Managed Fund setup as a "Brokerage" and the total equals the
value of the fund - i see that i can add a Cash Balance to the
Brokerage but am not quite sure how to make it work as you guys are
describing - any chance of a screen shot ?

thanks alot
ta.