Quicken can be used to manage your certificates of deposit. CDs have a set term (i.e., three months, six months, one year) over which they pay interest before maturing. At maturity, the owner has the option to roll over the CD for another term or cash it out for the value of the CD, plus accrued interest. If the CD is cashed out prior to maturity, a penalty will be assessed.
Add the CD to Quicken
Select "Investing" > "Security List" from the toolbar. Then select "New" in the dialogue box. Enter a name for the CD. If you have more than one CD, and want to easily differentiate your accounts in Quicken, name the accounts using the bank name and account number. When account numbers are lengthy, use the last four digits, only, when naming. Alternative method: use the CD's maturity date in the name. If only one CD matures on a specific date, this form of naming will avoid confusion. Do not enter anything in the "Ticker Symbol" field.
Manually Add the CD
Select "Add Manually" in the next dialogue box and choose "CD" as the type of security. Select "Cash" as the asset class and enter the CD's maturity date. Although CDs incur penalties when cashed out prior to their maturity dates, they are still considered liquid, or cash, investments. The CD will now be included with your other securities under the "Investing" toolbar.
- Photo Credit BananaStock/BananaStock/Getty Images
How to Set Up Accounts in Quicken
Setting up an account in Quicken is a fairly straightforward process that even new users should be able to tackle. It is...
How to Account for Certificates of Deposit
When a business accumulates a decent amount of operating capital, the business owners may choose to deposit the extra funds in a...
How to Set Up Investment Funds in Quicken
Quicken personal financial software provides options for tracking numerous types of investments, such as a 401k accounts, stocks and bonds. Quicken also...
How to Track Certificates of Deposit
Investors can limit risk by turning to safer investments, such as certificates of deposit. As of August 2009, Americans held $1.2 trillion...
How to Enter Insurance in Quicken
Quicken, created by the maker of TurboTax, is the little sister to QuickBooks. The application is meant to help manage your personal...