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401 account sells shares to cover fee

Mark256
Mark256 Member ✭✭
edited January 2019 in Investing (Windows)
My 401 retirement account charges me a fee and sells portions of my mutual funds to cover it. They call it a sale, but I am not really receiving proceeds. If I put a zero in sale amount Quicken wont let me continue.

Comments

  • J_Mike
    J_Mike SuperUser ✭✭✭✭✭
    edited December 2018
    Enter the sale(s) - this generates a cash balance to cover the fees.
    Enter a Miscellaneous Expense transaction for the fee charged. Use a category of your choice; e.g., Acct Fee.
    The fee charge offsets the sale(s) realization.
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  • Mark256
    Mark256 Member ✭✭
    edited January 2019
    JM, thanks for answering.  From what you are saying I will record cash in with the sale , then a misc expense.  But if the net effect is $0 how do I record the fact that I have an actual outflow of resources?  This is a fee and I want to keep track of what this company is charging me.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited December 2018
    Mark said:

    JM, thanks for answering.  From what you are saying I will record cash in with the sale , then a misc expense.  But if the net effect is $0 how do I record the fact that I have an actual outflow of resources?  This is a fee and I want to keep track of what this company is charging me.

    That's what the MiscExp transaction does ... just use a category of your choosing for "401 Fees".
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
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  • Mark256
    Mark256 Member ✭✭
    edited December 2018
    Mark said:

    JM, thanks for answering.  From what you are saying I will record cash in with the sale , then a misc expense.  But if the net effect is $0 how do I record the fact that I have an actual outflow of resources?  This is a fee and I want to keep track of what this company is charging me.

    What i am saying is that the net effect of a + and a - is 0.  Shouldn't the balance of the account be decreased by this event?  Maybe I am missing something.  Thanks for your patient help.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited December 2018
    Mark said:

    JM, thanks for answering.  From what you are saying I will record cash in with the sale , then a misc expense.  But if the net effect is $0 how do I record the fact that I have an actual outflow of resources?  This is a fee and I want to keep track of what this company is charging me.

    The account balance is decreased because you have fewer shares and the same amount of cash after the pair of transactions.
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  • Rich_M
    Rich_M SuperUser ✭✭✭✭✭
    edited December 2018
    Mark said:

    JM, thanks for answering.  From what you are saying I will record cash in with the sale , then a misc expense.  But if the net effect is $0 how do I record the fact that I have an actual outflow of resources?  This is a fee and I want to keep track of what this company is charging me.

    Mark:  Yes, it should, the Miscellaneous Expense transaction should have reduced your account balance by the fee amount, if not, something may not have been entered correctly.
    Quicken 2017 Premier - Windows 10 Pro
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited December 2018
    Mark said:

    JM, thanks for answering.  From what you are saying I will record cash in with the sale , then a misc expense.  But if the net effect is $0 how do I record the fact that I have an actual outflow of resources?  This is a fee and I want to keep track of what this company is charging me.

    To see the account balance you should be looking at the Total Market Value at the bottom of the Transaction list (register), not the cash balance. The Total Market Value is the Securities Value plus the cash balance.
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