Don't quite understand difference between 2 accounts


E

Elliott Alterman

I have 2 accounts tracking 2 mutual funds. The register on one shows the
share balance while the register on the other shows the cash balance.

I don't understand why they are different. How can I get both to show the
share balance?

TIA
 
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S

Steve

John Pollard said:
I have never found any benefit to single mutual fund accounts, and have on
several occasions found them to be limiting (at the financial institution),
so I have none.
Same here. I've never quite understood why Intuit includes that
account option.
 
E

Elliott Alterman

Thanks to both responders for their input.


Steve said:
Same here. I've never quite understood why Intuit includes that
account option.
 
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J

John Pollard

Elliott said:
I have 2 accounts tracking 2 mutual funds. The register on one shows
the share balance while the register on the other shows the cash
balance.

I don't understand why they are different. How can I get both to
show the share balance?
They are different because one is a "single mutual fund" account while the
other is not. A single mutual fund account can only hold one mutual fund,
it can never have any cash, so showing a share balance in that account makes
sense. A brokerage account, on the other hand, can hold many different
securities (as well as cash): it would be meaningless to show a share
balance in an account with multiple securities.

As long as your account that is showing a cash balance truely has only one
mutual fund in it and as long as the real world account never has any cash
in it, you can change it to a single mutual fund account.

In Q2002 deluxe for Windows, US:

Finance > Account List > (select account) > Edit

In the "Single Mutual Fund?" box, click on the word "No".

I have never found any benefit to single mutual fund accounts, and have on
several occasions found them to be limiting (at the financial institution),
so I have none.
 

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