More than half of my accounts will not work with online update. I think it
has to do with compatibility on your banks site. In theory it sounds great...

"J. Delage" wrote:

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"R. Ian Lee" wrote:
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I can't set it up for online update for some reason...

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Comments inline.

"J. Delage" <JDelage[at]discussions.microsoft.com> wrote in message
news:B3648D0A-7D87-45C1-B3FF-5F001D14D505[at]microsoft.com...
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I can't speak for downloading, but the cash account is best treated as an
Investment Cash account--Money creates these by definition and automagically
for 401k designated accounts. This account holds cash, gets
interest/dividends, and is the default cash side of investment transactions
for the Investment Account.

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Since I suspect that's how it's treated from a tax point of view, that's
probably how I'd treat it. I'm not sure why you say "account with negative
balances"--I'd make sure it had a $0 balance by accounting for Wages &
Salaryeferred Compensation (or something similar) Income by getting the
employer money in the account at the same time as the "discounted" Buys are
made. (Actually the purchase is for market price but 90% of the money for it
came from your contribution transfers and 10% came from these deferred
compensation income entries.) For more on employer contributions, see
http://umpmfaq.info/faqdb.php?q=14.

Hi,

My employer offers an ESPP which works like that:
- Each pay period (twice a month), a % of my salary is sent to Fidelity
Investments, where it sits in a cash account.
- Once a quarter, that money is used to buy stock from my employer, at a 10%
discount from this date's closing price. The stock is held by Fidelity
NetBenefits.
- I am then free to keep the stock or sell it (in which case income or
capital gain taxes are witheld, depending on how long I kept the stock).

I have a couple questions:
1) Money doesn't seem to be able to "see" the cash account in Fidelity
Investments (it sees the stock position on NetBenefits fine). Also, I'm not
sure how I should structure this account - is it a Bank account? An
Investment one? All it holds is cash.
2) How should I capture the 10% discount I get (paid for my employer). Is
it similar to an employer's 401(k) matching (i.e., add an "Amployer
contribution" account with negative balances)?

Thanks!

JD