If you’re forced to use an online broker that won’t let you automatically download account transactions into your record-keeping system, you need to perform this record-keeping manually. Again, let us say that if at all possible you want to avoid this work especially if you’re actively buying and selling securities.
However, if you can’t avoid this manual record-keeping, you can use the instructions below to explain how to do most of this accounting.
Setting Up an Investment Account
To track investments in Quicken, you need to set up an investment account. Your investment transactions will be recorded in this account. You typically set up an investment account for each mutual fund in which you own shares and each brokerage account in which you hold securities. To set up an investment account, click the Finance menu and click Account List to open the Account List.
Click New to open the Create New Account dialog box. Click the appropriate Investment option button, click Next, and then provide the information that Quicken asks for: the account name, whether there’s a linked cash account (for storing cash), information about the account’s tax status, and so on.
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