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Level 1

How do I set up a current asset account (Marketable Securities) and link it to an investment account at my bank? The closest I can see is a money market acct.

 
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Highlighted
Level 1

How do I set up a current asset account (Marketable Securities) and link it to an investment account at my bank? The closest I can see is a money market acct.

Of course Money Market account is not the right choice, but I am looking for a workaround as well.

 

I am afraid if I set my investment account up as any of the options I am given by QB, the fluxuations in valuations we be interpreted as additional investments (or these days) withdrawls.

 

I like the convenience of linking QB to my investment account and also the ability to record true cash transfers via QB whether moving cash from checking to Marketable Securities or returning cash to the business from Marketable Securities.

 

I'm surprised more people have not run into this issue.

 

Help?

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QuickBooks Team

How do I set up a current asset account (Marketable Securities) and link it to an investment account at my bank? The closest I can see is a money market acct.

Good morning, @johnpc58

 

I hope you're enjoying this beautiful Monday. 

 

You can set up an asset investment account in your chart of accounts. Below I've included the steps to do this. However, in QuickBooks Online, you won't be able to connect a bank account to an asset account. The only account available to connect to would be a bank account type. If you'd like, I can submit feedback to our product engineers, so this could be considered in a future update. 

 

Let's set up your asset investment account:

 

1. Open the Accounting menu and choose Chart of Accounts

 

 

2. Select the New button in the top-right. 

 

3. Then choose your account type (Asset). Pick your detail type (Investments) and Save and Close when you're finished. 

 

 

That's all there is to it. In the meantime, you can check out Add an account to your chart of accounts in QuickBooks Online for more details on adding accounts. 

 

Please let me know if there is anything else that I could assist you with. I'll be here for you every step of the way. You can always reach out to us here in the Community anytime you find you have questions or concerns. Take care and have a good one! 

 

Highlighted
Level 1

How do I set up a current asset account (Marketable Securities) and link it to an investment account at my bank? The closest I can see is a money market acct.

Yup.  I set up the accounts to support this, actually two accounts, one main and one sub account:

Other Current Asset named: Marketable Securities

and Sub Account named: Unrealized Gain/Loss

 

Larger brokerage firms have the ability to link their investment accounts to financial software.  It would be great to show this important account in the Banking section and have it auto-update with the option to accept/lock in the Unrealized Gain/Loss at month-end for reporting.

 

Today all this must be handled through manual journal entries at month end or unmatched investment transactions (Cash Transfers) between Cash (linked to checking or savings) and this Marketable Securities account.

 

Thanks for considering this important addition.  

 

Johnpc58

P.S. I don't believe QB should be a substitute for detailed investment tracking by security.  I believe many customers would appreciate simple overall account balance data and matching for transfers between Cash<=>Marketable Securities.  If someone wants detail, let them pay for that convenience.

Highlighted
Moderator

How do I set up a current asset account (Marketable Securities) and link it to an investment account at my bank? The closest I can see is a money market acct.

I'm glad you came back, johnpc58.

 

I appreciate you for sharing your expertise and sentiments on how we can expand the QuickBooks ability to link accounts specific to investment type of account.

 

We are taking note of this suggestion. That said, I'll be sure to submit feedback, which is sent to our Product Development Team when considering features to introduce for future updates.

 

In the meantime, I encourage you to check out our QuickBooks Blog for any enhancements and announcements about the QuickBooks Online product. 

 

Thanks for visiting the Community. Please let me know if you have any follow-ups or other concerns. I'm always glad to help.

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