Thank you both for your prompt responses. Looks like I did not state the question clearly.

Please allow me to take another stab at it.

Before I do, let me say that both responses were clear, easily understandable and to the point. They will be extremely helpful to the many who read them in the future. As for me,  I’ve been trading stocks and using Quickbooks for many years. So, I was already aware of the information presented.

What I don’t understand is the Accounting. Is “Pending Settlement” an Asset, a Liability or both (as in the example). If it is not both, where does the other side of the transaction come from? I’m trying to find the other half of the “Pending Settlement” Journal Entry so the Balance Sheet…balances. Is there a number on the Brokerage Statement that can be used as the other half of the Quickbooks Journal Entry or do I just use the same “Pending Settlement” number twice. Once as a Debit and once as a Credit?

Thanks again for you help,

Steve