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Posted by P.Schuman on April 6, 2007, 10:12 am
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>
> > Hi, P.
> >
> > We've often griped here about Quicken's failure to handle CDs properly. But
> > this one is new, at least to me, since I don't download transactions from
> > brokers. (I tried it a couple of times, but spent more time correcting the
> > downloads than simply entering my relatively few transactions manually.)
> >
> > > Interestingly, there is a Quicken - Bonds bought - but what is the
> > > "mature" transaction ?
> >
> > Well, a CD is not a bond, of course, and that's just one of Quicken's
> > failures in this area. When a CD - or a bond - matures, our only real
> > option is a Sell transaction. In accountant-speak, we credit the CD
> > investment account and debit the account where the cash goes, which could be
> > our checking account or the cash balance in the broker's account. It seems
> > to me that your broker should have reported the Sell, balancing the
> > corresponding increase in your cash balance.
> >
> > Often, we just roll over the CD into a new CD. If the new CD has the same
> > number, we can practically ignore the rollover, except for updating the
> > "other info" (maturity date, interest rate, etc.) in Security Details. If
> > it gets a new number, we COULD just "rename" the security, but a better
> > treatment is to Sell the old and Buy the new, in two simultaneous but
> > separate transaction entries. (Remember that I'm a retired auditor and
> > still dedicated to preserving the audit trail of transactions.)
> >
> > After all these years, Intuit's programmers should have been able to let us
> > enter "live" details for CDs (not just text comments that don't affect
> > anything) into Security Details. We should be able to enter the maturity
> > date, interest rate, compounding or payout frequency, and other details that
> > could actually be used in the program to calculate and record interest
> > income, compounded balances, future cash flows, and other useful
> > information.
> >
> > But, they haven't, so we are still stuck with workarounds. :>(
> >
> > RC
>
> I may have hit the transactions with a hammer to fix it.
> Some other ladder CD's are coming due in the future,
> and will wat to see what the transactions look like
> and then take action & alsot let Schwab know that
> there may not be a balanced set of transactions at CD maturity.
> They are listed in my real Schwab account online history,
> but don't really have "action" just basically a ledger entry
> showing the shift from the brokerage account into the cash account
> along with the $132 of 6months interest.
>
ok - here's the captured OFX log from the CD maturing -
again, there is the interes posting, the principle returned to cash,
BUT no transaction for removal from the investment register,
as it is still listed.
---
here's the interest posted to cash
<INCOME>
<INVTRAN>
<FITID>xxxx my acct snip'd
<DTTRADE>20070404120000
<MEMO>NEVADA SECURITY 5.2XXX**MATURED** DUE 04/04/07
</INVTRAN>
<SECID><UNIQUEID>641453AR6<UNIQUEIDTYPE>CUSIP</SECID>
<INCOMETYPE>INTEREST<TOTAL>129.64
<SUBACCTSEC>CASH<SUBACCTFUND>CASH
</INCOME>
here's the principle credited back into the cash account
<INVBANKTRAN>
<STMTTRN>
<TRNTYPE>CREDIT
<DTPOSTED>20070404120000
<DTAVAIL>20070404120000
<TRNAMT>5000.00
<FITID>xxxx my acct snip'd
<NAME>NEVADA SECURITY 5.2XXX**MATURE
<MEMO>NEVADA SECURITY 5.2XXX**MATURED** DUE 04/04/07
</STMTTRN>
<SUBACCTFUND>CASH
</INVBANKTRAN>
and here is the CD security still listed in the investment portfolio
<DEBTINFO>
<SECINFO>
<SECID>
<UNIQUEID>641453AR6<UNIQUEIDTYPE>CUSIP</SECID>
<SECNAME>NEVADA SECURITY 5.2%07CD FDIC INS DUE 04/04/07PAYS INT @MA
<TICKER>7502190</SECINFO>
<PARVALUE>1000.0000<DEBTTYPE>COUPON
<DEBTCLASS>OTHER<COUPONRT>5.2000<COUPONFREQ>MONTHLY
<DTMAT>20070404
</DEBTINFO>
>
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