Opening a New MMF

[mian]

Hi Mark,
What is the recommended way to move cash from one mmkt savings account to another (newly opened) one?
Should I use "transfer out" for the one and "transfer in" for the new one, or is there a better way to do the transaction?

Thanks

Michael

[Mark]

Hi Michael,

You could use transfers or buy/sell. I would probably not use the "Transfer Between Wizard", as that creates one transfer in for each lot of your source investment being transferred. This is not necessary for cash since you don't report on the capital gain/loss of cash usually. You could just record a transfer out and a transfer in, but I personally find the buy/sell to be easier, as there is less information to record.