Single Mutual Fund Account Question

[Kill]

OK, T. Rowe Price has different account numbers for their funds, so I have
to have separate accounts for each (anyone know a fund that doesn't requires
this that allows for download in quicken). Anyway, the other question I have
is...:

How do I account for the transfer from my savings account? TRP debits my
savings account which shows up as a download from my bank and then buys
shares; the TRP account download shows the accumulation shares. When I put
"TRP Growth Fund" as the account the money was transferred to, it shows up
as another purchase in the fund account instead of transfer of cash in and
then the purchase.

Way way confused here, yet again; this method, seems to make it appear that
the cash from my savings account has gone off into the ether, although it
does show up in the form of the fund increase but there "appears" to be no
connection between the withdrawal and the subsequent purchase. Or have I
missed something yet again?

--
***************
Kill

[Steve]

"Kill" <killuce@aol.com> wrote:OK, T. Rowe Price has different account numbers for their funds, so I haveto have separate accounts for each (anyone know a fund that doesn't requiresthis that allows for download in quicken).

Sure, just use one of the brokerages that provide access to most funds
- Schwab, Fidelity, Vanguard, etc. Might wanna first check to make
sure the funds you're interested in are available at no fee.
How do I account for the transfer from my savings account? TRP debits mysavings account which shows up as a download from my bank and then buysshares; the TRP account download shows the accumulation shares. When I put"TRP Growth Fund" as the account the money was transferred to, it shows upas another purchase in the fund account instead of transfer of cash in andthen the purchase.

Ideally, you want to enter the transaction in the TRP investment acct
as a Buy, with cash funding from your savings acct. May have to do
this manually...

[Steve]

"John Pollard" <willnotworkatall@hotmail.com> wrote:3.) Change your TRP Quicken single mutual fund account types to"Brokerage",which permits cash. I do not know whether this would interferewith downloading from TRP or not.

Other than the possible download problem, I'm not sure there's any
good reason to ever use the single mutual fund account. The brokerage
account provides far more flexibility, and I don't see any drawbacks
to using it for a single mutual fund. Am I missing something?

[John Pollard]

Kill wrote: How do I account for the transfer from my savings account? TRP debits my savings account which shows up as a download from my bank and then buys shares; the TRP account download shows the accumulation shares. When I put "TRP Growth Fund" as the account the money was transferred to, it shows up as another purchase in the fund account instead of transfer of cash in and then the purchase.

It is a characteristic of Quicken single mutual fund accounts that they can
not hold cash; but that is a characteristic of those same type accounts at
TRP and elsewhere. You should never see any cash in those type accounts
when you get statements, the cash that went to the account was used
instantly to purchase shares.
Way way confused here, yet again; this method, seems to make it appear that the cash from my savings account has gone off into the ether, although it does show up in the form of the fund increase but there "appears" to be no connection between the withdrawal and the subsequent purchase. Or have I missed something yet again?

I think you have several choices.

1.) Check with TRP to see if they offer a "brokerage" type account where you
can hold multiple funds, stocks, bonds, etc. Even if you only hold your TRP
funds in that account, it would simplify your job.
2.) Move your holdings to some other company - as previously suggested -
that does offer the "brokerage" type account.
3.) Change your TRP Quicken single mutual fund account types to
"Brokerage",which permits cash. I do not know whether this would interfere
with downloading from TRP or not. In theory, I do not think it should, but
practice and theory are often in disagreement. You could try asking TRP
tech-support.
4.) Delete one of the downloaded transactions. Not sure it really matters
which one it is, but it only takes one "BuyX" transaction to purchase shares
in a single mutual fund account. and to account for the transfer of funds to
make the buy. Neither of the two fi's downloading have a good way to know
that the other will be downloading the equivalent transaction ... so that
one of them could intentionally not download what is essentially the same
transaction. I don't see having to delete one transaction per download as
an onerous task.

[John Pollard]

Steve wrote: "John Pollard" <willnotworkatall@hotmail.com> wrote: 3.) Change your TRP Quicken single mutual fund account types to "Brokerage",which permits cash. I do not know whether this would interfere with downloading from TRP or not. Other than the possible download problem, I'm not sure there's any good reason to ever use the single mutual fund account. The brokerage account provides far more flexibility, and I don't see any drawbacks to using it for a single mutual fund. Am I missing something?

Basically, I agree; avoid single mutual fund accounts, if possible. When I
discovered how they worked, I changed my Fidelity account (at Fidelity) to
be a brokerage account, just so I could hold multiple funds in a single
account).

[Sir Osler]

I don't think the decision is so clear cut. I guess it depends on how you
look at the numbers on the reports. For my fidelity accounts I receive
statements that show detail by date for each fund on a separate page. It is
easier for me to look at the reports and compare them to my actual accounts
if I use the one fund per account approach in quicken. That way the
register view shows the number of shares I'm holding at various times and it
is easier to compare to the statements.
Personally I've never thought that the account reconciliation process using
the several-funds-in-one-account was all that intuitive.
I do, however, find it annoying that the one step update does not work
properly for my Vanguard accounts if I keep each fund in its own account.
OTOH the web-based download process (Web Connect?) does work OK with one
fund per account.
Sir Osler
"John Pollard" <willnotworkatall@hotmail.com> wrote in message
news:gShfb.10291$x67.3509@bignews4.bellsouth.net... Steve wrote: "John Pollard" <willnotworkatall@hotmail.com> wrote: 3.) Change your TRP Quicken single mutual fund account types to "Brokerage",which permits cash. I do not know whether this would interfere with downloading from TRP or not. Other than the possible download problem, I'm not sure there's any good reason to ever use the single mutual fund account. The brokerage account provides far more flexibility, and I don't see any drawbacks to using it for a single mutual fund. Am I missing something? Basically, I agree; avoid single mutual fund accounts, if possible. When
I discovered how they worked, I changed my Fidelity account (at Fidelity) to be a brokerage account, just so I could hold multiple funds in a single account).

[John Pollard]

Sir Osler wrote: I don't think the decision is so clear cut. I guess it depends on how you look at the numbers on the reports. For my fidelity accounts I receive statements that show detail by date for each fund on a separate page. It is easier for me to look at the reports and compare them to my actual accounts if I use the one fund per account approach in quicken. That way the register view shows the number of shares I'm holding at various times and it is easier to compare to the statements.

I have holdings at several brokerages; I have always been able to design
reports that very closely match the statements sent by the brokerages. I
can look at one report and see number of shares and value (sorted by type of
security which is how most of my brokerage reports are presented) and easily
compare to my brokerage statement; no need to look in multiple registers.

[Kill]

Yeah, TRP offers a brokerage account, so I'll check into that bur I want to
see if these mutual funds can be placed in this account under one master
number instead of 4 different account numbers for each fund.

Originally I had it set up on Quickens end as a brokerage account but TRP
only allows you to download one fund into the account since each fund has
its own account number (odd...other fund families, Janus for example, gives
the account owner an account number and each fund has a number that's
assigned under the master account number).

Quicken does however handle the transfers quite nicely since I've had an
instance where I downloaded info from TRP. When you accept the downloaded
transaction for the mutual fund, Quicken asks what account was the source of
the deposit/purchase fund.

"John Pollard" <willnotworkatall@hotmail.com> wrote in message
news:sjgfb.9996$x67.8279@bignews4.bellsouth.net... Kill wrote: How do I account for the transfer from my savings account? TRP debits my savings account which shows up as a download from my bank and then buys shares; the TRP account download shows the accumulation shares. When I put "TRP Growth Fund" as the account the money was transferred to, it shows up as another purchase in the fund account instead of transfer of cash in and then the purchase. It is a characteristic of Quicken single mutual fund accounts that they
can not hold cash; but that is a characteristic of those same type accounts at TRP and elsewhere. You should never see any cash in those type accounts when you get statements, the cash that went to the account was used instantly to purchase shares. Way way confused here, yet again; this method, seems to make it appear that the cash from my savings account has gone off into the ether, although it does show up in the form of the fund increase but there "appears" to be no connection between the withdrawal and the subsequent purchase. Or have I missed something yet again? I think you have several choices. 1.) Check with TRP to see if they offer a "brokerage" type account where
you can hold multiple funds, stocks, bonds, etc. Even if you only hold your
TRP funds in that account, it would simplify your job. 2.) Move your holdings to some other company - as previously suggested - that does offer the "brokerage" type account. 3.) Change your TRP Quicken single mutual fund account types to "Brokerage",which permits cash. I do not know whether this would
interfere with downloading from TRP or not. In theory, I do not think it should,
but practice and theory are often in disagreement. You could try asking TRP tech-support. 4.) Delete one of the downloaded transactions. Not sure it really
matters which one it is, but it only takes one "BuyX" transaction to purchase
shares in a single mutual fund account. and to account for the transfer of funds
to make the buy. Neither of the two fi's downloading have a good way to know that the other will be downloading the equivalent transaction ... so that one of them could intentionally not download what is essentially the same transaction. I don't see having to delete one transaction per download as an onerous task.