New Quicken user here.
How do I set up 2 mutual funds from the same family of funds...? For example if I have 2 Fidelity funds say Fidelity Growth and Fidelity Income is there a way to set up a Fidelity account and then list each fund in that account?
Thanks
Steve
Sure, that's just the way Quicken is designed to work.
Please include your Quicken version when you post a question (for example, I use Q2005 deluxe ... and if there is any possible doubt, include the operating system and country); not every version works the same (the key difference being the year), and versions for different operating systems and/or countries can be significantly different.
Basically, try to setup things in Quicken to parallel the real world. Checking account(s), Savings acount(s), Credit card account(s), and Investment account(s) to mention the most common. If you had two real-world accounts at Fidelity, say a regular account and an IRA account; then setup two Fidelity accounts in Quicken.
To add a new account, open the Account List; in Q2005
Tools > Account List
Click Add Account and fill in the blanks. Fidelity offers "Direct" downloads of your transactions, if you wish to avail yourself, I believe you can ask Quicken to guide you through the process when you are adding the account, or you can do it later at your discretion.
Once you have an investment account, you can create new securities in Quicken by opening the Security List
Investing > Security List
and "add"ing each new security. Or you can begin entering the appropriate transactions in the Investment account and when you key in a security name that is not already in the Security List, Quicken will ask if you want to add that security, and will take you through the same dialog as if you had started in the Security List.
It will be your choice about how much detailed history you enter into your accounts; the odds being that your real world accounts had activity prior to you starting to use Quicken. If you want things like Net Worth reports to be correct, you will have to at least enter "opening balances" in non-investment accounts, and in investment accounts, you will probably want to at least do the equivalent for each security (which would probably be a "Shares Added" transaction), though for accuracy at the level of such things as capital gains, you would need to enter each purchase, sale, etc. You can always start by entering balance adjustment type transactions, then later, as time permits, begin entering detailed transactions and modifying the adjustment transactions to account for the new detail you enter.
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