Merge accounts question

Using Money 2004 Deluxe. I have three online IRA accounts with the same
broker. I want to merge two of these accounts into the remaining account in
Money so as to simplify book keeping. I would like all the transactions,
cost basis and so on to follow this move. What is the best way to
accomplish this? Thanks in advance.

Fitz

Dick
Thu Oct 06 06:21:26 CDT 2005

Assuming downloaded transaction setups are not involved, you could use
Transfer Shares for the Investment account and Transfer for the Cash
account. Transfer Shares is supposed to do what you want. It's designed for
cases like changing brokers. Some people report issues with cost basis. I've
had it work for me.

If downloaded transaction data is planned going forward, you probably
shouldn't do this. An Account in Money can associate with one account in
downloaded data, not several.

Personally, I wouldn't do it. If there are multiple real world accounts,
representing them as one in Money would seem like a potential source of
great confusion. Say you want to balance share balances from the Money
account to the real account statements. If any common investments are
involved, this will require a separate step to combine the statement share
balances to get the value to check against Money.

"Fitz" <SENDNOMAIL@SENDNOMAIL.COM> wrote in message
news:Z0%0f.91194$SL.2234287@twister.southeast.rr.com...
> Using Money 2004 Deluxe. I have three online IRA accounts with the same
> broker. I want to merge two of these accounts into the remaining account
> in Money so as to simplify book keeping. I would like all the
> transactions, cost basis and so on to follow this move. What is the best
> way to accomplish this? Thanks in advance.

Fitz
Thu Oct 06 09:16:47 CDT 2005

Thanks for the info Dick. I'm also merging the three online IRA accounts I
have and just want to have money continue on as before but using the single
account. If the merge within money works OK, then I'll just delete the two
old IRA accounts and continue to download the single larger account from the
broker. I have transactions going back to 1979 and would like to keep all
that info if possible. Does this sound doable?
***

"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:OLI6RgmyFHA.3892@TK2MSFTNGP12.phx.gbl...
> Assuming downloaded transaction setups are not involved, you could use
> Transfer Shares for the Investment account and Transfer for the Cash
> account. Transfer Shares is supposed to do what you want. It's designed
> for cases like changing brokers. Some people report issues with cost
> basis. I've had it work for me.
>
> If downloaded transaction data is planned going forward, you probably
> shouldn't do this. An Account in Money can associate with one account in
> downloaded data, not several.
>
> Personally, I wouldn't do it. If there are multiple real world accounts,
> representing them as one in Money would seem like a potential source of
> great confusion. Say you want to balance share balances from the Money
> account to the real account statements. If any common investments are
> involved, this will require a separate step to combine the statement share
> balances to get the value to check against Money.
>
> "Fitz" <SENDNOMAIL@SENDNOMAIL.COM> wrote in message
> news:Z0%0f.91194$SL.2234287@twister.southeast.rr.com...
>> Using Money 2004 Deluxe. I have three online IRA accounts with the same
>> broker. I want to merge two of these accounts into the remaining account
>> in Money so as to simplify book keeping. I would like all the
>> transactions, cost basis and so on to follow this move. What is the best
>> way to accomplish this? Thanks in advance.
>
>

Dick
Thu Oct 06 10:13:30 CDT 2005

Yes. Transfer Shares and Transfer should get you there.

Whenever doing something radical like this it is ALWAYS a good idea to make
a copy of the data file and try it there first. It you like the results,
uset he copy going forward and make the original a "benchmark" for what you
had before you leaped off the cliff. If you later find some side effect you
don't like, the old file can be your recovery point.

"Fitz" <SENDNOMAIL@SENDNOMAIL.COM> wrote in message
news:jla1f.86653$Jp.3020118@twister.southeast.rr.com...
> Thanks for the info Dick. I'm also merging the three online IRA accounts
I
> have and just want to have money continue on as before but using the
single
> account. If the merge within money works OK, then I'll just delete the
two
> old IRA accounts and continue to download the single larger account from
the
> broker. I have transactions going back to 1979 and would like to keep all
> that info if possible. Does this sound doable?

Fitz
Thu Oct 06 10:17:24 CDT 2005

Thanks much for the advice! The online accounts won't be merged for about 2
weeks so I'll sure save this info. Again, thanks.
***

"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:u3Z2DioyFHA.612@TK2MSFTNGP10.phx.gbl...
> Yes. Transfer Shares and Transfer should get you there.
>
> Whenever doing something radical like this it is ALWAYS a good idea to
> make
> a copy of the data file and try it there first. It you like the results,
> uset he copy going forward and make the original a "benchmark" for what
> you
> had before you leaped off the cliff. If you later find some side effect
> you
> don't like, the old file can be your recovery point.
>
> "Fitz" <SENDNOMAIL@SENDNOMAIL.COM> wrote in message
> news:jla1f.86653$Jp.3020118@twister.southeast.rr.com...
>> Thanks for the info Dick. I'm also merging the three online IRA accounts
> I
>> have and just want to have money continue on as before but using the
> single
>> account. If the merge within money works OK, then I'll just delete the
> two
>> old IRA accounts and continue to download the single larger account from
> the
>> broker. I have transactions going back to 1979 and would like to keep
>> all
>> that info if possible. Does this sound doable?
>
>

Chris
Thu Oct 06 11:14:07 CDT 2005

Merging accounts used for downloading transactions is unlikely to work
correctly. That function is designed for when Money creates duplicate
accounts in the process of enabling online updates. It is not intended for
consolidate multiple accounts into one account, I don't believe.
--
Chris Cowles
Gainesville, FL




Fitz wrote:
> Thanks much for the advice! The online accounts won't be merged for about
> 2
> weeks so I'll sure save this info. Again, thanks.

Fitz
Thu Oct 06 13:22:03 CDT 2005

Do you have any other suggestions as to how this can be accomplished (other
than item by item)?
***

"Chris Cowles" <NoSpam@For.me> wrote in message
news:%230%23i8DpyFHA.3716@TK2MSFTNGP10.phx.gbl...
> Merging accounts used for downloading transactions is unlikely to work
> correctly. That function is designed for when Money creates duplicate
> accounts in the process of enabling online updates. It is not intended for
> consolidate multiple accounts into one account, I don't believe.
> --
> Chris Cowles
> Gainesville, FL
>
>
>
>
> Fitz wrote:
>> Thanks much for the advice! The online accounts won't be merged for
>> about 2
>> weeks so I'll sure save this info. Again, thanks.
>
>

Dick
Thu Oct 06 13:41:42 CDT 2005

I DON'T think we were talking about "Merge" as in M05/6 unscrewing duplicate
accounts. We were talking about taking three accounts and doing
Transfer/Transfer Shares to two of them to end up with everything "merged"
into one account going forward.

You might want to re-read the thread and re-consider the comment so we can
get the OP the best answer.

"Chris Cowles" <NoSpam@For.me> wrote in message
news:%230%23i8DpyFHA.3716@TK2MSFTNGP10.phx.gbl...
> Merging accounts used for downloading transactions is unlikely to work
> correctly. That function is designed for when Money creates duplicate
> accounts in the process of enabling online updates. It is not intended for
> consolidate multiple accounts into one account, I don't believe.

Chris
Thu Oct 06 21:37:09 CDT 2005


"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:uPC5ZWqyFHA.2812@TK2MSFTNGP14.phx.gbl...
>I DON'T think we were talking about "Merge" as in M05/6 unscrewing
>duplicate
> accounts. We were talking about taking three accounts and doing
> Transfer/Transfer Shares to two of them to end up with everything "merged"
> into one account going forward.
>
> You might want to re-read the thread and re-consider the comment so we can
> get the OP the best answer.

OP: "...I have three online IRA accounts with the same broker. I want to
merge two of these accounts into the remaining account in Money so as to
simplify book keeping..."

I infer from the original statement that the broker maintains 3 separate
accounts on the books. I did misunderstand the suggestion for which process
should be used, but I stand by my comment. It assumes a continued online
connection to the broker. Attempting to condense the three accounts into one
will not work in that case. If the online connection to the broker is
abandoned, it probably will work.
--
Chris Cowles
Gainesville, FL

Dick
Fri Oct 07 08:17:35 CDT 2005

OP: "I'm also merging the three online IRA accounts I
have and just want to have money continue on as before but using the single
account."

I inferred that three real world accounts are being consolidated to one. I
have cautioned accordingly about merging accounts in Money that are not
merged in the real world.

"Chris Cowles" <NoSpam@For.me> wrote in message
news:u7$YGguyFHA.2348@TK2MSFTNGP15.phx.gbl...
> OP: "...I have three online IRA accounts with the same broker. I want to
> merge two of these accounts into the remaining account in Money so as to
> simplify book keeping..."
>
> I infer from the original statement that the broker maintains 3 separate
> accounts on the books. I did misunderstand the suggestion for which
> process should be used, but I stand by my comment. It assumes a continued
> online connection to the broker. Attempting to condense the three accounts
> into one will not work in that case. If the online connection to the
> broker is abandoned, it probably will work.

Fitz
Fri Oct 07 13:43:33 CDT 2005

Thanks Dick. You are correct in that I'm also merging the three real world
accounts at the same time. Sorry, I should have made that clear.

--
***
NEVER download files from anywhere unless it is from the website of the
developer, manufacturer or some entity that you trust. They ALWAYS have the
most up to date files that haven't been tampered with by some third party
who is "hosting" (read Leeching) those files without permission.
***

"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:u7gf4F0yFHA.3180@TK2MSFTNGP10.phx.gbl...
> OP: "I'm also merging the three online IRA accounts I
> have and just want to have money continue on as before but using the
> single
> account."
>
> I inferred that three real world accounts are being consolidated to one. I
> have cautioned accordingly about merging accounts in Money that are not
> merged in the real world.
>
> "Chris Cowles" <NoSpam@For.me> wrote in message
> news:u7$YGguyFHA.2348@TK2MSFTNGP15.phx.gbl...
>> OP: "...I have three online IRA accounts with the same broker. I want to
>> merge two of these accounts into the remaining account in Money so as to
>> simplify book keeping..."
>>
>> I infer from the original statement that the broker maintains 3 separate
>> accounts on the books. I did misunderstand the suggestion for which
>> process should be used, but I stand by my comment. It assumes a continued
>> online connection to the broker. Attempting to condense the three
>> accounts into one will not work in that case. If the online connection to
>> the broker is abandoned, it probably will work.
>
>

Chris
Fri Oct 07 17:24:20 CDT 2005

I did not make that inference. In that case, merger should work.

"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:u7gf4F0yFHA.3180@TK2MSFTNGP10.phx.gbl...
> OP: "I'm also merging the three online IRA accounts I
> have and just want to have money continue on as before but using the
> single
> account."
>
> I inferred that three real world accounts are being consolidated to one. I
> have cautioned accordingly about merging accounts in Money that are not
> merged in the real world.

Fitz
Fri Oct 07 18:08:53 CDT 2005

Thanks for all the input guys!

***

"Chris Cowles" <NoSpam@For.me> wrote in message
news:O1hjf34yFHA.3320@TK2MSFTNGP14.phx.gbl...
>I did not make that inference. In that case, merger should work.
>
> "Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
> message news:u7gf4F0yFHA.3180@TK2MSFTNGP10.phx.gbl...
>> OP: "I'm also merging the three online IRA accounts I
>> have and just want to have money continue on as before but using the
>> single
>> account."
>>
>> I inferred that three real world accounts are being consolidated to one.
>> I have cautioned accordingly about merging accounts in Money that are not
>> merged in the real world.
>
>