Does anyone know the correct way to track the certificates of deposit (CDs) in KMyMoney; or if it's even possible? My guess was to use investments or perhaps a brokerage account, but that didn't seem like a good fit. I didn't find any instructions in the documentation that were specific to CDs, so I hope the community might know.

Thanks all!

I did this (viewtopic.php?f=69&t=143168) for brazilian CDs, perhaps someone could do the same for US ones.

Im also interested to know how US CDs works and try creating a new source to automatically update them in kmm.

@aperali Thank you for taking the time to respond. I am no expert, but from what I understand, US CDs aren't something that needs to pull updates from a financial site (like Google Finance or Yahoo Finance). It sounds like your country is different. The terms of most US CDs are fixed. The CD matures at the rate set during purchase and it grows at that rate until maturity and then pays out fully, thus closing the account. Some banks auto-reinvest; but that is just a convenient way to close the CD and create a new one with the same terms.

My issue was figuring out the best way to build the "account" within KMM to follow the CDs manually. In programs I've used in the past, these are often a specific type of investment that is a simple register to track the open/close date, starting balance and dividends. KMM obviously has investment account, but they require matching brokerage accounts to handle transactions. Since CDs aren't buying/selling shares, this is not applicable and creates extra work. I ended up creating 'savings' accounts to track each CD. This works okay, but makes my account register bloated; nor does it indicate how much of my assets are not liquid. Generally speaking you can't withdraw from a CD once it's opened, so it's nice to group them separately from other assets.

Again, thanks for posting! Your feedback is appreciated.

@ericst brazilian CDs are the same. But most commonly ones are post fixed rates, so as the government changes the rates, CD's interest changes the same way.

Please correct if Im wrong, I think you can also sell some types of US CDs to the market before their maturity , right? than, you have somewhere a quote for it and consequently the actual expected value if you need to sell them, thus better net worth info. If it is not the case, they will grow up your net worth only at the maturity date and this is I think this is easy to set up in a DB source to use with kmm automatic update.

P.S. You dont need to create a brokerage account for investment, you do if you want.

Cheers