401k MANUAL updates after company migration

brewder

My company for the last 10 years has been using Mercer for our 401k.  It was great because in Quicken (currently running 2017 version) it would update every time I ran the "Update Accounts" process.  I REALLY liked this feature.

Now we use Transamerica.  They do NOT have "live" Quick integration and I need to manually download/import account updates.  I hate this.  

What is the proper manual process to keep my account balance in Quicken accurate?  Can I do it each week?  Should I do it quarterly?  I don't know how to establish a proper process.

I deleted my account in Quicken and downloaded the fresh transactions when we went live with Transamerica.  Since then (about 60 days), if I download the YTD transactions, the balance gets all screwed up so I must be doing something wrong.  Must I now keep track of the dates I download/import so I don't overlap or something?  

Any advice is appreciated.

//Troy

Jim_Harman

So you are getting duplicate transactions when you download YTD data from Transamerica and import?

You should be able to update any time you want, just look at the last date in your register and tell Transamerica you want to download from that date + 1 to present rather than YTD.

Jim_Harman

Also you might try again to get a live connection to Transamerica, or give them a call to confirm whether it works for your account. I see in Quicken's new account setup that both Transamerica Retirement Services and Transamerica Retirement Solutions are listed.

brewder

Hmmm. Im petty sure i tried that. When I emailed their tech support they told me it had to be done manually but I'll certainly try again.



Troy

NotACPA

brewder said:

Hmmm. Im petty sure i tried that. When I emailed their tech support they told me it had to be done manually but I'll certainly try again.



Troy

As Jim noted, both are registered as "Participating Financial Institutions" ... but both are ALSO listed as Web Connect.  Perhaps that's what tech support meant by "manual".

In Web Connect, you need to login into Transamerica's website and initiate the download yourself, from there.

00628    00628    00628    Transamerica Retirement Services    http://www.ta-retirement.com    1-800-401-8726    http://www.ta-retirement.com    ACTIVE         401K&WEB-CONNECT              NOT_QBP    NA

10766    10766    10766    Transamerica Retirement Solutions    https://www.trsretire.com/    1-888-NROLL123    https://www.trsretire.com/    ACTIVE         401K&WEB-CONNECT              NOT_QBP    -1

SO, you can download ... but you need to do it yourself.  Weekly vs. Monthly really doesn't make much difference ... just whatever works  for you.

brewder

But again, I just did a download... and the web site asked me what time period to use so I selected YTD... Downloaded and imported, and now my Quicken balance is all screwed up and isn't even close to my actual balance.

NotACPA

brewder said:

But again, I just did a download... and the web site asked me what time period to use so I selected YTD... Downloaded and imported, and now my Quicken balance is all screwed up and isn't even close to my actual balance.

For a Web Connect, Transamerica is SOLELY responsible for the content of the download.  Q just loads in what TA is sending.

You need to complain to TA.  This user-to-user forum can do nothing about the matter.

You might also consider, until TA gets their act together, just doing "1st of the month" downloads of the prior month instead of YTD.

brewder

Alright.. thanks for the tips and ideas!

Troy

brewder

OK so I'm all setup now and things are working fine with ONE exception.  I created my 401k account in Quicken.  I've manually downloaded and imported my transactions and everything was GREAT.  My Quicken balance and total shares matched what my 401k provider has.... THAT day.

Every day the market is open the price of the mutual funds change, but my balance is Quicken doesn't.  Why not?  It knows how many shares I have, and it knows the updated price of each share but my balance changes aren't being reflected.  

What gives??

//Brew

NotACPA

brewder said:

OK so I'm all setup now and things are working fine with ONE exception.  I created my 401k account in Quicken.  I've manually downloaded and imported my transactions and everything was GREAT.  My Quicken balance and total shares matched what my 401k provider has.... THAT day.

Every day the market is open the price of the mutual funds change, but my balance is Quicken doesn't.  Why not?  It knows how many shares I have, and it knows the updated price of each share but my balance changes aren't being reflected.  

What gives??

//Brew

Are these Mutual funds publicly traded?  OR, are they "special funds" that are only available thru TA? 

My wife has a mutual fund in her 403B account that has the same name as a publicly traded fund ... but a RADICALLY different price/quote.  The only way to get those quotes for her account is to manually collect them from the 403B trustee's website and manually input them into Q.

Have you tried the INVESTING, Download Activity, Quotes function in Q?

brewder

brewder said:

OK so I'm all setup now and things are working fine with ONE exception.  I created my 401k account in Quicken.  I've manually downloaded and imported my transactions and everything was GREAT.  My Quicken balance and total shares matched what my 401k provider has.... THAT day.

Every day the market is open the price of the mutual funds change, but my balance is Quicken doesn't.  Why not?  It knows how many shares I have, and it knows the updated price of each share but my balance changes aren't being reflected.  

What gives??

//Brew

They absolutely are:  FCNTX, JSVRX for example.  And yes, the quotes update every time I run account update but my balance never changes until I import the new transactions when I get paid (monthly).

Something isn't working properly.

brewder

brewder said:

OK so I'm all setup now and things are working fine with ONE exception.  I created my 401k account in Quicken.  I've manually downloaded and imported my transactions and everything was GREAT.  My Quicken balance and total shares matched what my 401k provider has.... THAT day.

Every day the market is open the price of the mutual funds change, but my balance is Quicken doesn't.  Why not?  It knows how many shares I have, and it knows the updated price of each share but my balance changes aren't being reflected.  

What gives??

//Brew

It looks like one of my securities isn't updating the price.. It's "stuck"... all of the other are current.  I think this is the issue but I don't know how to fix it.  It's in the quote list to download.

brewder

brewder said:

OK so I'm all setup now and things are working fine with ONE exception.  I created my 401k account in Quicken.  I've manually downloaded and imported my transactions and everything was GREAT.  My Quicken balance and total shares matched what my 401k provider has.... THAT day.

Every day the market is open the price of the mutual funds change, but my balance is Quicken doesn't.  Why not?  It knows how many shares I have, and it knows the updated price of each share but my balance changes aren't being reflected.  

What gives??

//Brew

Bingo... fixed it.  I clicked on Edit security, the symbol was missing for some reason.. I added it, followed the next screen or two, and bingo I'm properly up to date!  Talked myself right through the solution lol.

//Brew