What if my broker holds part of the cash for several days when I sell a security?
Example: You sell 10 shares of stock ABC at $10 per share, totaling $100 in sale proceeds. Your broker immediately sends you a check for $85, with another check for the remaining $15 to come after 30 days. You want to deposit both checks into your checking account.
1. Record the sale of shares in your investment account. After entering the Sell transaction, the cash balance of your investment account increases by $100.
2.When your receive your first check of $85 from your broker, enter a transfer of cash from your investment account to your checking account. In the investment account transaction list or Security Detail View, click Enter Transaction, and then select Transfer Cash from Account. Enter $85 as the amount and select your checking account as the transfer account.
3.When your receive your second check of $15, enter another transfer of cash from your investment account to your checking account, as described in Step 2.