New Account for CD

I bought a CD and don't know how to set it up in Money (using Money Plus 
H&B).  When I tried setting it up as a bank savings account there was a note 
that said I should set it up as an investment account.  When I set up the 
investment account it does not ask me any questions about the CD or even if 
it is a CD.  What am I missing.  It seems like it should be a savings account.

Please help me?
0
neil154 (103)
9/25/2008 3:08:01 AM
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A Savings Account can be used. If you only ever intend to have one CD at a 
time, that's probably easier.

But if you want to manage multiple individual CDs over time, then the 
Investment Account is probably a better answer. But an Investment Account is 
just half the problem.

Investment Accounts hold Investments. You need to define Investments and 
then enter transactions that Buy, Sell, Redeem, etc., units of the 
Investment. In your case, say, you are buying 1 unit of a $10,000 6 month 
HappyBank CD. The Investment in this case is defined as a $10,000 6 month 
HappyBank CD. You enter a Buy transaction somewhere (see below) for 1 unit 
of this investment at $10,000 to be held in the Investment Account.

If you have the Investment Account defined and you transferred money into 
the CD from another account, here's what you do. In the Money Account where 
the money came from, enter a transaction with the special category "Buy 
Investment / CD". This is like a Transfer in that it will ask for the name 
of the Investment Account where this Investment is held. Then it will ask 
for you to define the Investment. That's where you describe the Investment. 
In the case of a CD, there isn't much to define. But the same model, more or 
less, is used for mutual funds, stocks, and bonds.

See if that helps the "light bulb moment" arrive. If not, you might want to 
look in online help for CD or in the sample file. Or post back with more 
questions.

"neil154" <neil154@discussions.microsoft.com> wrote in message 
news:BC7BDC83-554A-49CC-86D1-0A38271A9957@microsoft.com...
>I bought a CD and don't know how to set it up in Money (using Money Plus
> H&B).  When I tried setting it up as a bank savings account there was a 
> note
> that said I should set it up as an investment account.  When I set up the
> investment account it does not ask me any questions about the CD or even 
> if
> it is a CD.  What am I missing.  It seems like it should be a savings 
> account.
>
> Please help me? 


0
9/25/2008 3:28:43 AM
I guess I was expecting something different.  I expected that I would be able 
to input the cd term and interest rate.  I believe I understand what you are 
saying but it seems no different that just making an investment account (or 
savings account) and then adding the amount of the CD in the cash portion of 
the account.  The only differences between the investment account and the 
saving account appears to be able to handle multiple CDs.

"Dick Watson" wrote:

> A Savings Account can be used. If you only ever intend to have one CD at a 
> time, that's probably easier.
> 
> But if you want to manage multiple individual CDs over time, then the 
> Investment Account is probably a better answer. But an Investment Account is 
> just half the problem.
> 
> Investment Accounts hold Investments. You need to define Investments and 
> then enter transactions that Buy, Sell, Redeem, etc., units of the 
> Investment. In your case, say, you are buying 1 unit of a $10,000 6 month 
> HappyBank CD. The Investment in this case is defined as a $10,000 6 month 
> HappyBank CD. You enter a Buy transaction somewhere (see below) for 1 unit 
> of this investment at $10,000 to be held in the Investment Account.
> 
> If you have the Investment Account defined and you transferred money into 
> the CD from another account, here's what you do. In the Money Account where 
> the money came from, enter a transaction with the special category "Buy 
> Investment / CD". This is like a Transfer in that it will ask for the name 
> of the Investment Account where this Investment is held. Then it will ask 
> for you to define the Investment. That's where you describe the Investment. 
> In the case of a CD, there isn't much to define. But the same model, more or 
> less, is used for mutual funds, stocks, and bonds.
> 
> See if that helps the "light bulb moment" arrive. If not, you might want to 
> look in online help for CD or in the sample file. Or post back with more 
> questions.
> 
> "neil154" <neil154@discussions.microsoft.com> wrote in message 
> news:BC7BDC83-554A-49CC-86D1-0A38271A9957@microsoft.com...
> >I bought a CD and don't know how to set it up in Money (using Money Plus
> > H&B).  When I tried setting it up as a bank savings account there was a 
> > note
> > that said I should set it up as an investment account.  When I set up the
> > investment account it does not ask me any questions about the CD or even 
> > if
> > it is a CD.  What am I missing.  It seems like it should be a savings 
> > account.
> >
> > Please help me? 
> 
> 
> 
0
neil154 (103)
9/25/2008 3:48:13 AM
You **can input the term and rate** when defining the Investment. But Money 
won't do much with this information besides display it here and there. It 
won't use it to automagically reinvest or anything like that.

An Investment Account with an Investment Cash Account and no Investments is 
just a lot more headache than a Savings Account.

There are other differences between the Investment Account and the Savings 
Accounts besides handling multiple CDs. Things like reporting and ability to 
handle different Investment types/vehicles, etc. But, again, if all you are 
doing is CDs and you aren't very interested in things like performance 
comparisons of the yield of various CDs, then, yes, a Savings Account is 
easier and no loss.

"neil154" <neil154@discussions.microsoft.com> wrote in message 
news:694065BB-FD0A-4582-84D9-59895C62670A@microsoft.com...
>I guess I was expecting something different.  I expected that I would be 
>able
> to input the cd term and interest rate.  I believe I understand what you 
> are
> saying but it seems no different that just making an investment account 
> (or
> savings account) and then adding the amount of the CD in the cash portion 
> of
> the account.  The only differences between the investment account and the
> saving account appears to be able to handle multiple CDs. 


0
9/25/2008 4:08:07 AM
Here's another difference (again, only relevant if you will hold multiple 
CDs): IF you have them setup as Investments, you can keep track of when they 
come up for renewal and so forth. If you did this with a Savings Account and 
multiple CDs, all you'd have is one balance and the mix of CDs and rates and 
maturity dates and so on would be completely washed out of the data you can 
see in Money.

"neil154" <neil154@discussions.microsoft.com> wrote in message 
news:694065BB-FD0A-4582-84D9-59895C62670A@microsoft.com...
> it seems no different that just making an investment account (or
> savings account) and then adding the amount of the CD in the cash portion 
> of
> the account 


0
9/25/2008 4:11:39 AM
Another thing you may be missing: the Investment Account need not even have 
a Cash Account. They KEY is that what gets in the Investment Account is 
Investments. You don't just transfer the cash to the Investment Account. You 
Buy some number of units of a defined Investment in the Investment Account. 
The transaction acts as, effectively, a conversion of the money from one 
unit of valuation--dollars--to another--shares of an Investment. 


0
9/25/2008 4:15:06 AM
Dick,

Thanks for the information.  You are right that Money really does nothing 
with the term and rate.  I use the lifetime planner extensively and was 
expecting that Money would consided the rate of the CD in the lifetime 
planner but no matter what term and rate I put in the lifetime planner shows 
the same projection.

Again, thanks for your guidance.  

"Dick Watson" wrote:

> Here's another difference (again, only relevant if you will hold multiple 
> CDs): IF you have them setup as Investments, you can keep track of when they 
> come up for renewal and so forth. If you did this with a Savings Account and 
> multiple CDs, all you'd have is one balance and the mix of CDs and rates and 
> maturity dates and so on would be completely washed out of the data you can 
> see in Money.
> 
> "neil154" <neil154@discussions.microsoft.com> wrote in message 
> news:694065BB-FD0A-4582-84D9-59895C62670A@microsoft.com...
> > it seems no different that just making an investment account (or
> > savings account) and then adding the amount of the CD in the cash portion 
> > of
> > the account 
> 
> 
> 
0
neil154 (103)
9/25/2008 4:19:01 AM
neil154 wrote:
> Thanks for the information.  You are right that Money really 
> does
> nothing with the term and rate.  I use the lifetime planner
> extensively and was expecting that Money would consided the 
> rate of
> the CD in the lifetime planner but

> no matter what term and rate I put
> in the lifetime planner shows the same projection.

How would that work?

CD's have maturity dates.  When the CD matures (almost certainly 
before you die; for many people, many years before they even 
retire), what are the odds you'd be able to replace the matured 
CD with another CD with the same rate and same number of months 
to maturity ... and to do that for every maturity until you die.

If you invest in CD's, you're likely to own many different CD's 
with many different rates and maturities over your lifetime. 
For a planner to arbitrarily choose the rate/maturity of some CD 
you currently own wouldn't provide a very reliable estimate for 
your whole life.

I think planners, like the lifetime planner, want you to give 
them the overall percentage growth you expect for your lifetime, 
or for the length of your retirement; then they'll apply that 
rate to all your "investments".

-- 

John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup 


0
invalid460 (432)
9/25/2008 1:06:30 PM
Schwab uses the Bond (Other) category for CDs.    That way the maturity date, 
rate, etc can be inserted.   Although confusing, a $10,000 CD is 10,000 units 
at $100 each, rather than the expected $1.00 each.    It works nicely in an 
Investment account situation.
0
ameridan (38)
9/26/2008 4:49:02 PM
In microsoft.public.money, ameridan wrote:

>Schwab uses the Bond (Other) category for CDs.    That way the maturity date, 
>rate, etc can be inserted.   Although confusing, a $10,000 CD is 10,000 units

Did you maybe mean 100 units?
 
>at $100 each, rather than the expected $1.00 each.    It works nicely in an 
>Investment account situation.
0
via_newsgroup (13114)
9/26/2008 6:38:34 PM
That is what you'd think, but if you try it you'll see what I mean.   When I 
first entered manually I used 10,000 units at $1.00 each, but that doesn't 
work.  It's almost as if they mean 100% , rather than $100 each.

"Cal Learner-- MVP" wrote:

> In microsoft.public.money, ameridan wrote:
> 
> >Schwab uses the Bond (Other) category for CDs.    That way the maturity date, 
> >rate, etc can be inserted.   Although confusing, a $10,000 CD is 10,000 units
> 
> Did you maybe mean 100 units?
>  
> >at $100 each, rather than the expected $1.00 each.    It works nicely in an 
> >Investment account situation.
> 
0
ameridan (38)
9/27/2008 2:47:02 PM
In microsoft.public.money, ameridan wrote:

>That is what you'd think, but if you try it you'll see what I mean.   When I 
>first entered manually I used 10,000 units at $1.00 each, but that doesn't 
>work.  It's almost as if they mean 100% , rather than $100 each.

It sounds as if you set this up as a Bond, where the Price is indeed
in percent. That's how bond prices are quoted.

>
>"Cal Learner-- MVP" wrote:
>
>> In microsoft.public.money, ameridan wrote:
>> 
>> >Schwab uses the Bond (Other) category for CDs.    That way the maturity date, 
>> >rate, etc can be inserted.   Although confusing, a $10,000 CD is 10,000 units
>> 
>> Did you maybe mean 100 units?
>>  
>> >at $100 each, rather than the expected $1.00 each.    It works nicely in an 
>> >Investment account situation.
>> 
0
via_newsgroup (13114)
9/27/2008 3:33:59 PM
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