Voya Translation and Quicken on Mac

WISV1K

I I am having major issues with Voya.  In my case, the translation is terrible and not as simple as changing the type field.  I have almost 800 transactions to deal with.  In the end it appears the "cost basis" field and "gains and losses" field add up to what the true market value Voya shows on line. Basically, the numbers that are importing are correct, but its worthless in Quicken because Quicken is displaying the wrong values as the Market Value.  Any suggestions are appreciated.

John_in_NC

Good.

I can't see your transactions, but I suspect you will find this an ongoing issue.  Voya is likely reporting a $0 balance, yet showing all the buys of new funds. This is not unusual for some investment accounts which assume no cash balance.

You will likely have to do a cash adjustment each period to offset the buys. If this is an account such as an employer/employee funded retirement, then you can split out your paycheck to show the transfer of $ over to your Voya account. This transfer of $ (in the Voya account) will return to zero when the buys are made for that period. 

WISV1K

I too am having major issues with Voya.  In my case, the translation is terrible and not as simple as changing the type field.  I have almost 800 transactions to deal with.  In the end it appears the "cost basis" field and "gains and losses" field add up to what the true market value Voya shows on line. Basically, the numbers that are importing are correct, but its worthless in Quicken because Quicken is displaying the wrong values as the Market Value.  Any suggestions are appreciated.

lhossus

WISV1K said:

... In the end it appears the "cost basis" field and "gains and losses" field add up to what the true market value Voya shows on line. Basically, the numbers that are importing are correct, but its worthless in Quicken because Quicken is displaying the wrong values as the Market Value. ...

The Market Value for the individual securities appear "reasonable". And you say the numbers imported are correct.

So my focus is then drawn to the Cash component of the account. So, answer these questions:

1. How did the individual securities get added to the account? I. e., what kind of transction: Add Shares, Buy, other?
2. How did the Cash get into the account? What kind of transaction?

You might want to show a sample screen shot from the Transaction register for one of the securities that is typical of them all.

WISV1K

They "type" field is definitely whats causing me the issues.  Quicken only trnslates Buy and sell which is not correct.  That said, Voya breaks out everything and it's not feasible to adjust them by hand in Quicken.

lhossus

WISV1K said:

They "type" field is definitely whats causing me the issues.  Quicken only trnslates Buy and sell which is not correct.  That said, Voya breaks out everything and it's not feasible to adjust them by hand in Quicken.

What you write is very confusing.

You say translates: what is being translated into what? Give specifics.

And you say Voya breaks out everything: Nothing wrong with that if you mean shows every transaction. Or do you mean something else?

Perhaps you need to show the transactions from the Voya website, and the same transactions in the Quicken register.

Curiosity: why all the small $$ transactions? Including selling one day and buying the same security the next.

John_in_NC

I believe you will find the source of your problem being that negative $81K cash value. If you add that in to the market value, you get the $85K amount.

You will have to look at your transactions (click on Transactions at the top)  for 1) an incorrect placeholder at the beginning of the register causing this negative cash balance, or 2) no cash balance placeholder, and a bunch of transactions showing the acquisition of funds without showing the underlying cash flowing into the account. I am sure you will find your running balance showing that negative $81K dollars. 

Post back with what you find.

WISV1K

I understand it is confusing and I'm probably not explaining it the best.  I do mean that Voya is showing EVERY transaction.  By translation I mean Quicken doesn't see the transactions accurately.  For example a fee in Voya is translated as "sell" in Quicken.  I am away from home now so I will try to post the comparison later tonight.  Either way I was hoping there was a simple fix and that does not seem to be the case.

WISV1K

In the above screen shot, the cost basis + gains/losses fields add up the correct value according to Voya. 

John_in_NC

Yes, and the market value plus that cash balance (changing the sign)=the same.

I don't think this account is $81K in the hole.

System

This discussion was created from comments split from: Issues with Voya - QMac.

lhossus

WISV1K said:

...  By translation I mean Quicken doesn't see the transactions accurately.  For example a fee in Voya is translated as "sell" in Quicken.  ...

Yes, Voya accounts for fees as just a sell of a bit of each of your securities. Check the Transaction History on the website. They do not show the cash being removed from your account. Nothing for Quicken to translate.

So you must add a transaction such as Type: Miscellaneous Expense, Description: Administrative Fees, with an Amount that equals all the Sells and is negative, such that the cash balance returns to $0.

WISV1K said:

...  I am away from home now so I will try to post the comparison later tonight.

John_in_NC and I have posted additional suggestions. We are waiting to hear back from you.

WISV1K

Thank you for your responses. What is seems in the initial balance was incorrect, causing the negative balance. In the interest of simplicity, I just did a reconcile and adjustment. For now it matches the online balance. I'll see what happens when the next sync happens. 

lhossus

Thanks for the update. Good luck with this in the future.

John_in_NC

Good.

I can't see your transactions, but I suspect you will find this an ongoing issue.  Voya is likely reporting a $0 balance, yet showing all the buys of new funds. This is not unusual for some investment accounts which assume no cash balance.

You will likely have to do a cash adjustment each period to offset the buys. If this is an account such as an employer/employee funded retirement, then you can split out your paycheck to show the transfer of $ over to your Voya account. This transfer of $ (in the Voya account) will return to zero when the buys are made for that period.