Record sale of bond with accrued interest?

Discussion in 'Quicken' started by Michael S. Rosen, Aug 29, 2003.

  1. When purchasing a bond there is a field to input accrued interest.
    How do I do this when selling a bond? My trade confirmation shows
    accrued interest but the sale form in Quicken 2003 Premier does not
    allow for an additional field.

    Thanks,
    Mike
     
    Michael S. Rosen, Aug 29, 2003
    #1
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  2. Michael S. Rosen

    R. C. White Guest

    Hi, Mike.

    Looks like Quicken suffers from tunnel vision. Even in the Help file, a
    search for Accrued Interest turns up a dozen or so discussions related to
    the purchase of accrued interest, but not its sale. Further digging turns
    up several pages on how to manually record "Special investment
    transactions", but they still skip the sale of bonds with accrued interest.
    (I'm using Quicken 2002 Deluxe, but I doubt this has changed in later
    versions.)

    For the purchase of accrued interest, Help says that "(Quicken enters an
    expense transaction in the investment register for you.)" For a sale, I
    suppose we have to separately enter an income transaction in the investment
    register, in addition to recording the sale of the bond itself, excluding
    that interest from the selling price. (Of course, recording an expense for
    the purchase of accrued interest is not correct unless that accrued interest
    is collected in the same year; otherwise, it must be carried over until the
    year when it is received.)

    I just checked my entries for the last time I did this. It was in 1993.
    That's exactly how I recorded the call of a corporate bond. First I entered
    the Sell, then I made an IntInc entry in the Register for receipt of the
    accrued interest. In the Memo fields of the two transactions I entered
    "Called - see accrued interest" and "Accrued interest - Call 7/1/93". Looks
    like Quicken has not improved this "feature" in at least 10 years. :>(

    RC
    --
    R. C. White, CPA
    (Retired - no longer licensed to practice)
    San Marcos, TX


    "Michael S. Rosen" <> wrote in message
    news:...
    > When purchasing a bond there is a field to input accrued interest.
    > How do I do this when selling a bond? My trade confirmation shows
    > accrued interest but the sale form in Quicken 2003 Premier does not
    > allow for an additional field.
    >
    > Thanks,
    > Mike
     
    R. C. White, Aug 30, 2003
    #2
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