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Setting up new accounts

My questions are of the nature of how to set up some new accounts in Quicken. I hope I am asking at the correct place. If not, please direct me to the correct place.

I am using Quicken 2005 Deluxe release R 1. I have been a long time user in terms of having started several years ago and have upgraded versions at least twice. I might also point out that I'm a fairly simple user in that I use it to keep a couple of checking accounts and that's all.

When I established the accounts I have I seem to remember that it was a clear and straight forward process with the wizard. Now that I want to establish a couple of new accounts, the wizard is less than helpful

First, I want to establish an account for a Certificate of Deposit. I do not know what choices to make to establish this account. Could someone tell me the choices to make?

Second, I want to establish an account for my wife?s new job as a federal employee. There is a portion of her withholding that goes into the FERS retirement account. I need to set up an account for this. Can someone tell me how this would be done? None of the choices are clearly the ones I need.

Thanks,

Bob

Reply to
Robert N. Sparbel
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You have two choices -- set up each as an asset account or as an investment account. You would choose an investment account if you want to update the market value regularly. You would choose an asset account if you don't.

If it were me, I'd set up an asset account for each one. When I felt energetic, I would update the market value (like once a quarter or once a year).

Reply to
Fred Smith

There is at least one other possibility. If CD is held at a bank and bank will download transactions for the CD, it can be setup as a Savings Account and no manual entry of interest is required: I did this for three CD's with USAA.

Reply to
John Pollard

Now there's a heck of a good idea. Given that some US banks do this, we'll probably get it in Canada five years from now.

Reply to
Fred Smith

Thanks to both Fred and John for your answers.

Bob

Robert N. Sparbel wrote:

Reply to
Robert N. Sparbel

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