I have Money+ and I get an error message "The transaction can not be entered"
when I try to redeem a CD. There also is no option to "sell" either. Any
thoughts?

"Scott Tyler" wrote:

- quote -

Thank you. A perfect solution and clearly described.

It was a five-year CD, so I was able to change all 60 of the transactions
from Interest to Reinvest Interest with about 90 seconds of Tab Tab Tab R
Enter.

-stephen
Washington DC

"-stephen" <widget_50-at-yahoo-dot-com> wrote in message
news:C_6dnWqFydT8Ni3VnZ2dnUVZ_sHinZ2d[at]earthlink.com...
- quote -

The "Interest" activity puts all the interest in the investment cash account
(an Investment account in Money contains both an Investment register and a
Cash register, you can select either of these from the left margin when you
click into the investment account), rather than reinvesting it in the CD.
If you change those to "Reinvest Interest", the interest will go into the
CD, and you can redeem the CD for the final value.

Depending on locality and financial institution, some CDs pay the interest
to a savings account, where the holder of the CD can spend the money
immediately (I've never seen such a CD myself in real life, but I've read on
this newsgroup that they do exist), other CDs compound the interest into the
CD, where it can't be touched until maturity. As Money has to model either
scenario, there is an "Interest" and a "Reinvest Interest" activity.

Redeeming a CD results in a "Sell" of the CD, with a cash account (in your
case, the checking account) being the target of the transfer. I'm assuming
from what you posted that the CD (an investment entity in Money) contains
the original value of the CD, and the cash account associated with the
investment account that holds the CD in Money contains the 5 years of
interest. As such, you're getting the "go negative" error when attempting
to redeem for the final value.

If there are too many interest transactions to change, you could use
"Redeem" or "Sell" for the original value (not the final value) of the CD,
use the investment cash account (where all the "Interest" payments went) as
the target for the transfer, and then enter a transfer from the investment
cash account to the checking account for the final value of the CD.

--
Scott Tyler
agent_scotty-at-hotmail-dot-com

I created an investment account 5 years ago for a CD which has now matured
on 1 August 2008. I accumulated the interest each month with Activity
"Interest". I now want to close out the CD and transfer the initial deposit
plus interest to a checking account. Which "Activity" do I select which will
let me move the total value of the CD to another (checking) account?

When I try "Redeem CD/Bond", I can fill in all of the information, including
to which account to transfer the proceeds, but I get an error message "The
changes you are making will cause the balance for "Account name" to become
negative at some point. Please cancel or revise the transaction".

Thanks,
-stephen
Washington DC