Accounting for retirement account expenses.

Unknown

Using Quicken Windows 2016. I have a retirement account that sells a small portion of each mutual fund each month to pay the account fees. How do I account for this. When I try and use the misc exp it adds the sales proceeds into my account balance?

Vetta

2-stage process. Sell fund portion, then enter a misc exp. Are you trying to do it all with one transaction?

Unknown

Yes I was trying to do it as one when I do the automatic download from the financial institution.  Is that not possible?

Vetta

I don't believe so. First you enter a Sale for the fund portion sold, which will increase your account balance. Then you enter a MIsc Exp for the fees. If your broker sells several funds to meet the fee do all the sales first. The increase in your account should exactly equal the fee charged.

Vetta

Vetta said:

I don't believe so. First you enter a Sale for the fund portion sold, which will increase your account balance. Then you enter a MIsc Exp for the fees. If your broker sells several funds to meet the fee do all the sales first. The increase in your account should exactly equal the fee charged.

When you're done your balance should be what is was before the sale(s).

Unknown

Thanks that makes sense.  

Vetta

Glad to help.

splasher

Since this happens every month, you could create reminder(s) to enter this into the register and then match up any downloaded transaction to the already inserted reminder and doing it this way you will know that it is being handled the way you want.