Entering Savings, or Cash Account Interest

How is interest earned by a money market or brokerage cash account entered,
so the program can calculate interest rate and amount earned?  Up to now, I
use the 'Deposit" tab, and enter the amount and call it "Interest" but it
seems to me that there should be a drop down menu that lists "interest or
dividend" like in the investment accounts so the program can calculate
earnings.  The way I do it, it just seem  like another deposit, which it is
not.

-- 
Dave Schwartz
Commack, NY


0
who4ever (59)
5/2/2004 5:16:14 PM
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Well, it's not just another deposit, quite. You should categorize the income
as something like Investment Income:Interest. But, as you note, this doesn't
report performance the same as an investment. The only work around it to put
the cash in an investment--like a home made Money Market fund or similar.

I'd put the Money Market account in a different category--unless it has a
draft feature--these are usually mutual finds and can be setup as Money
Market investments for which Reinvest Interest and Reinvest Dividend are
options.

"Dave Schwartz" <who4ever@optonline.net> wrote in message
news:y1alc.93644$Gd3.21975856@news4.srv.hcvlny.cv.net...
> How is interest earned by a money market or brokerage cash account
entered,
> so the program can calculate interest rate and amount earned?  Up to now,
I
> use the 'Deposit" tab, and enter the amount and call it "Interest" but it
> seems to me that there should be a drop down menu that lists "interest or
> dividend" like in the investment accounts so the program can calculate
> earnings.  The way I do it, it just seem  like another deposit, which it
is
> not.


0
5/3/2004 12:08:20 AM
But let's simplify it, and only refer to what the program refers to as the
Cash Account of a Brokerage account.  This is where all deposits are made
and all dividends are swept into once a month.  This is not the investment,
it is the cash account, which pays dividends, which cannot be kept track of.
Dave


"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:%23VqtuKKMEHA.3076@TK2MSFTNGP10.phx.gbl...
> Well, it's not just another deposit, quite. You should categorize the
income
> as something like Investment Income:Interest. But, as you note, this
doesn't
> report performance the same as an investment. The only work around it to
put
> the cash in an investment--like a home made Money Market fund or similar.
>
> I'd put the Money Market account in a different category--unless it has a
> draft feature--these are usually mutual finds and can be setup as Money
> Market investments for which Reinvest Interest and Reinvest Dividend are
> options.
>
> "Dave Schwartz" <who4ever@optonline.net> wrote in message
> news:y1alc.93644$Gd3.21975856@news4.srv.hcvlny.cv.net...
> > How is interest earned by a money market or brokerage cash account
> entered,
> > so the program can calculate interest rate and amount earned?  Up to
now,
> I
> > use the 'Deposit" tab, and enter the amount and call it "Interest" but
it
> > seems to me that there should be a drop down menu that lists "interest
or
> > dividend" like in the investment accounts so the program can calculate
> > earnings.  The way I do it, it just seem  like another deposit, which it
> is
> > not.
>
>


0
who4ever (59)
5/3/2004 2:29:30 AM
Agreed. Dividends paid by the cash account will not track for performance
purposes. (As opposed to the investments in the investment account. I'm not
sure what you meant by "dividends are swept into," but if you mean your
investment dividends are not reinvested but are paid to the cash account,
these should all be Dividends paid against the investment with a transfer
account of the cash account. These WILL affect the reported performance of
the investments.) The case of the cash account dividends is no different
than interest or dividends paid in non-investment cash/bank accounts.
Categorizing them using some kind of income category is the best you can do.

"Dave Schwartz" <who4ever@optonline.net> wrote in message
news:e8ilc.98378$Gd3.23657243@news4.srv.hcvlny.cv.net...
> But let's simplify it, and only refer to what the program refers to as the
> Cash Account of a Brokerage account.  This is where all deposits are made
> and all dividends are swept into once a month.  This is not the
investment,
> it is the cash account, which pays dividends, which cannot be kept track
of.


0
5/3/2004 12:26:50 PM
I treat the cash account the same as a bank account.

When I get there I click on "more cash tasks, balance account"

I add in the dividend or interest there and balance.

This doesn't get included in investment performance, just as othe
"bank" accounts aren't.

In older versions of Money, the associated cash account was actuall
shown as a separate account, right there with bank accounts.  
actually liked that better, it was quicker to review all cash position
at once


-
fuzzbut
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