401k wizard
Comments
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Obviously, you haven't been paying attention if you think THAT'S the ONLY feature Quicken for Mac is lacking.
I can list you about 100 features that are missing.
While this may be important to you, the fact that I've never seen this request on this forum suggests its not a feature the majority of Quicken Mac users are requesting. Therefore, I wouldn't think that the Quicken Mac development team will be addressing this in the near immediate future.
Heck, the report engine isn't up to par, you can't include or exclude transfers, there is no tax planner or retirement planner and handling investments overall is subpar, including manually entering share prices for securities.
Need I go on?0 -
David, for those of us who are Mac users and have never used Quicken Windows, what does the 401K wizard in the Windows version accomplish that you can't do in Quicken Mac?
I ask this because another "missing feature" cited in Quicken Mac is a paycheck wizard (that may not be the correct name) in Quicken Windows. Yet it turns out that simply entering a paycheck with appropriate splits for withholdings in Quicken Mac basically accomplishes the same thing, and it doesn't hold people back.
As @Wannabe says, there's a long list of features -- some large, some small -- which are in Quicken Windows but not Quicken Mac at this time. Each of these is important to someone, but most users don't care about many of them. So what's important for you could be irrelevant for me, and visa versa. This is why many feature requests are categorized as "Idea" on this forum, users here can vote for the ones they find important, and the developers look at the vote totals in guiding which features they work on next.Quicken Mac Subscription • Quicken user since 19930 -
Well I had to go look this one up because I have never used it.jacobs said:David, for those of us who are Mac users and have never used Quicken Windows, what does the 401K wizard in the Windows version accomplish that you can't do in Quicken Mac?
I ask this because another "missing feature" cited in Quicken Mac is a paycheck wizard (that may not be the correct name) in Quicken Windows. Yet it turns out that simply entering a paycheck with appropriate splits for withholdings in Quicken Mac basically accomplishes the same thing, and it doesn't hold people back.
As @Wannabe says, there's a long list of features -- some large, some small -- which are in Quicken Windows but not Quicken Mac at this time. Each of these is important to someone, but most users don't care about many of them. So what's important for you could be irrelevant for me, and visa versa. This is why many feature requests are categorized as "Idea" on this forum, users here can vote for the ones they find important, and the developers look at the vote totals in guiding which features they work on next.
The "401K Wizard" is only available on manually entered 401K accounts.
And basically it asks questions and then generates the transactions based on those questions. Note that it uses "adjust shares", which means that it uses placeholders because it doesn't really know the times/cost basis when the securities were bought/sold.
Example:
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yes this is it! thank you! yes I'm a Marine and we have a thing called TSP (Thrift Savings Plan) and it does not allow direct connection and we have to manually input all the time. Further, the TSP folks don't even allow for updating quotes! WE have to put in "like" stock ticker symbols to ensure that we get a "close" price update or go in and manually update those as well.jacobs said:David, for those of us who are Mac users and have never used Quicken Windows, what does the 401K wizard in the Windows version accomplish that you can't do in Quicken Mac?
I ask this because another "missing feature" cited in Quicken Mac is a paycheck wizard (that may not be the correct name) in Quicken Windows. Yet it turns out that simply entering a paycheck with appropriate splits for withholdings in Quicken Mac basically accomplishes the same thing, and it doesn't hold people back.
As @Wannabe says, there's a long list of features -- some large, some small -- which are in Quicken Windows but not Quicken Mac at this time. Each of these is important to someone, but most users don't care about many of them. So what's important for you could be irrelevant for me, and visa versa. This is why many feature requests are categorized as "Idea" on this forum, users here can vote for the ones they find important, and the developers look at the vote totals in guiding which features they work on next.
Anyway, thank you... no sarcasm this time. Appreciate it and I'll put it in the "idea" part of the forum as you stated. Thank again!0 -
Thank you very much I'll go post in the idea area as well!jacobs said:David, for those of us who are Mac users and have never used Quicken Windows, what does the 401K wizard in the Windows version accomplish that you can't do in Quicken Mac?
I ask this because another "missing feature" cited in Quicken Mac is a paycheck wizard (that may not be the correct name) in Quicken Windows. Yet it turns out that simply entering a paycheck with appropriate splits for withholdings in Quicken Mac basically accomplishes the same thing, and it doesn't hold people back.
As @Wannabe says, there's a long list of features -- some large, some small -- which are in Quicken Windows but not Quicken Mac at this time. Each of these is important to someone, but most users don't care about many of them. So what's important for you could be irrelevant for me, and visa versa. This is why many feature requests are categorized as "Idea" on this forum, users here can vote for the ones they find important, and the developers look at the vote totals in guiding which features they work on next.0 -
So I'm a user who moved over from Windows to Mac and am also frustrated by lack of 401k wizard in Mac. Here's how I work around it to simulate a similar update as the Windows wizard used to provide.
Note: 401k statements and tracking work differently in different accounts. I do not and have never tracked specific investments but just periodically (quarterly) updated values of each type of investment and used the Windows functionality that set share values to $1/share and instead adjusted the number of shares. If you do it similarly the following should work. For others, maybe it will give you an idea that works for you.
New cash invested:
- if you or an employer have added cash to your account during the period, you need to use that cash to "Buy" new shares of each investment you hold (enter a new transaction in the 401k register using the "Buy" transaction). You should see on your statement how much each additional investment you have purchased with cash. If your statement breaks down if it was your cash vs. employer contribution cash, you can enter one combined transaction or two separate ones. Use the date of your statement for the date. Do this for each security/fund you own until you have gotten rid of all the cash in your account.
At this point, your account will show a value equal to the value at the end of last period + new cash you put in which has now been allocated to different investments. However, you are still missing changes in value to your investments during the period.
Update Values of Existing Holdings:
- To update values in the holdings from the prior period, my statements show "Gain/Loss" by investment instead of a change in a share value or similar for each fund. Its just an aggregate gain/loss. To reflect these gains/losses, use the "Add Shares" for gains and "Remove Shares" for losses (again, enter these using new transactions in the 401k transaction register). Use the full dollar value of the gain / loss for both the amount AND the number of shares added/removed (this will make them equal to $1/share). This will simply adjust the value of your holdings.
at this point, your Portfolio view should show a value that matches your statement as of the statement date. Good luck, I hope this helps someone.1
