Is there any way to change a Ban Account into an Investment Account? RRS feed

  • Question

  • Is there any way to change a Ban Account into an Investment Account?

    I could create an investment account and transfer out/in. But I was wondering if it could done in another way.

    -- leoh

    Friday, April 24, 2020 3:10 PM

All replies

  • I can think of two possible ways.

    The better one, I think, is to export the bank account as a loose QIF file. Delete the bank account.

    Create a new Investment account. Make sure that TrackCashTransactions is ticked in the account settings. Import the QIF file into the cash account of the investment account.

    Keep an extra copy or backup of your file in case you want to undo something. I did not experiment to see how well this works in practice.

    The other way is to make a new investment account. Switch to multi-line mode. Enter an investment transaction, and change the TransferTo field to the existing bank account. That field is the bottom part of the the Quantity column

    Friday, April 24, 2020 7:33 PM
  • Cal has replied with 2 good suggestions.  In many instances, I agree with leonardo that Investment accounts actually function better in Money for many bank and credit union savings accounts, especially when CDs are held within those accounts.  CDs are investments that either pay interest to the cash side of the account, or pay compounded interest back into the CD itself.
    Saturday, April 25, 2020 3:24 AM