How to handle bew security in an existing account

My thinking...first, maybe you know this, but just in case...multiple Quicken accounts can contain the same securities in them. ie: You can have two separate Quicken accounts each containing differing amounts of the same underlying security, such as either Janus Fund, or Janus Money Market funds.

So, is the actual account number of the 'new Janus Money market fund' (the one with the IRA holdings of that security) the same as the old Janus fund? In other words, are those two securities are kept within the same physical IRA account? If so, keep the newly purchase Janus Money Market funds in the same, existing, IRA account, since it is!

If not (i.e.: it's a new account at Janus despite having the same security (i.e.: Janus Money Market fund)) as the other (taxable, I assume) fund that already has Janus Money Market funds in there, then create a new, IRA type of account that holds the new Janus Money Market funds. At this point, you'll have 3 separate Quicken accounts since you have three separate Janus accounts in reality.

The key is to mimic in Quicken exactly your real-world accounts, and things will work out well.

"Andrew" wrote

I second that.

And now that Janus offers downloads to Quicken, if you want to take advantage of those downloads, you will have to setup Quicken the way Janus expects it setup.

I know many mutual fund companies create one customer account for each mutual fund the customer owns. But some companies will allow the customer to treat those multiple accounts as one account, if the customer wishes it: Vanguard comes to mind. Personally, I think that is the best approach: one account with multiple securities. [Obviously retirement accounts must be separate from non-retirement accounts and from other retirement accounts of differing types.]

I only have one fund at Janus, so I have not had to determine what choices, if any, Janus offers. I suggest you check with Janus to make sure how you should setup your new fund in Quicken.

Thanks for your response.. I understand what you guys are saying about Quicken allowing multiple accounts have the same securities in them, my problem is that I don't know how to set up the security in the second account. I've tried several times to set it up but it never does it. I'm sure I'm doing some dumb thing preventing it from happening.

What I have tried was to buy shares of the security with cash that's in the IRA account. When Q asks for the security to use I try to add a new security and this is where all goes wrong it never sets up the new security in the account.

There's not enough information to tell exactly what is happening; you should be able to add a new security in Quicken during the entry of a Buy transaction.

But you can approach it slightly differently. Assuming this security does not already exist in your Quicken file, you can add it directly in the Security List (Investments > Security List > New).

Then initiate a Buy transaction in the appropriate Quicken account and choose the (now existing) security from the Security Name drop down.

"John Pollard" wrote

The last part of that sentence should have read:

(Investing > Security List > New).