How Do I Set Up a Certificate of Deposit Account in Quicken?

by Jessica Kent ; Updated July 27, 2017

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.

About the Author

Jessica Kent started writing professionally in 2002. Her articles have appeared in publications including the New York State Bar Association's "Family Law Review," "Valuation Strategies" and "Metropolitan Corporate Counsel." Through her writing, she strives to assist people in making informed financial decisions. She is a Certified Public Accountant in New York. Kent holds a Bachelor of Science in accounting from Binghamton University.

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