#Investment - You are the type of individual who favors a hands-on method of opportunities. You love to choose your personal stocks, bonds and mutual funds. You love to do all the documentation yourself within the privacy of your home.
Therefore, you've selected Intuit Quicken as the investment software.
But, oops! You've discovered Quicken will make you crazy when your opportunities exceed stocks, bonds and mutual funds.
Below are great tips to create your existence simpler:
Types Any security that derives its value from some underlying security is known as an offshoot. A choice to purchase stock is actually a "call," whereas a choice to market stock is actually a "put," and these two are types. Using Quicken, treat the acquisition and then purchase just like you'd the acquisition or purchase of the stock, observing losing or gain. Should you contain the option until it expires, you have to record your final Purchase transaction, using the sales cost as zero.
Working out Puts and Calls Under normal conditions, youd most likely just sell the choice to the broker. However, should you finish up working out a "put" option, you have to record the purchase having a cost of zero. To workout a "call" option, additionally you record the cost as zero.
Gold And Silver and Goods When getting gold and silver, coins, farming products along with other goods, you initially must determine the system of measurement. For instance, gold is measured by weight based on the "troy ounce." Farming goods might be measured through the bushel or even the ton. Each unit of measurement is similar to a share of stock. So, whether purchasing or selling, you have to record the total amount or amount of the purchase by observing that it's, for instance, 26 troy oz . of gold or 17 bushels of wheat (just like you'd record the purchase or acquisition of 150 shares of stock).
Selling Puts and Calls All that you should remember is you record the acquisition or purchase like a regular transaction, no matter if the person with whom you sell the "put" then exercises the "put."
Zero Coupon Bonds Most bonds pay periodic interest. However, zero coupon bonds pay all the curiosity about a lump sum payment once the bond matures. To keep an eye on the accumulating worth of the zero coupon bond (for private information as well as for confirming interest gained), you note the annual interest that seems around the statement out of your broker. The bottom line is to go in the return of capital as an adverse value. So, should you accrue $50 in interest on the zero coupon bond, you have to record coming back capital transaction of -$50. This really is essential to show the connected cash accounts correct cash balance and also the bond's correct cost basis.
Because of so many people handling their very own opportunities, Video Professor provides a Quicken tutorial.
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