How to enter Employer 401K match in QMac2017

NewMac2017

When updating my investment accounts after each paycheck, I have a negative cash balance in my 401k account. I have traced it down to the employer's 401k match. Does Quicken for Mac 2017 not download these purchased shares from Fidelity? If so, I would welcome any suggestions on how to enter these purchased funds.

RickO

I think what you're seeing is this: Fidelity does download the BUY transaction for the employer contribution into your account. However, it is not downloading the transaction that deposits cash into the account used to buy the shares. The share balance will be correct, but the cash balance will be negative because the BUY transaction used cash that wasn't in the account. It is not unusual for the cash-in transaction not to download from the brokerage.

The way to deal with this is to set up a recurring scheduled Payment/Deposit transaction that will automatically enter the cash contribution into the account. It would look something like this:



If you pay is the same every pay period, all you have to do is mark it as paid each month. Or even make it an automatic entry. If your pay (and hence the contribution) varies each period, then you'll have to edit the scheduled transaction to input the proper contribution amount.

NewMac2017

I believe you are correct. That is what is occurring every time I get paid. I the recurring scheduled Payment/Deposit set up under the billing tab? Sorry I am not in front on my Quicken app.

RickO

NewMac2017 said:

I believe you are correct. That is what is occurring every time I get paid. I the recurring scheduled Payment/Deposit set up under the billing tab? Sorry I am not in front on my Quicken app.

You can set it up directly in the register by making a single transaction and then right-click on it and Schedule Selected Transaction. That's the most straighforward way. 

Then if you want it to auto-enter, you have to go to Bills & Income > Payees. Find the payee in the list and click the three dots in a circle icon, then Edit Schedule. Check the box "Automatically mark as paid". 

Unknown

What I do for my employer match is to have it as a part of my paycheck as two entries: 1) to record the match (recording to a category of employer match) and 2) to transfer it to the 401(k) investment account.  Assuming you contribute at least as much to fully match it is a set-it and forget it entry until your salary changes or you have special income (bonus). That's how I deal with it.