Quicken 2017 Home & Business - My 401k account receives double entries.

WillieT
WillieT Member ✭✭
in Investing (Windows)

One when I download the transaction and one when I enter my paycheck (Self & Employer Contribution).  For example, if you have $800/paycheck deducted to 401K and your Employer contributes $400/paycheck, two (2) entries are added to your 401K account which doesn’t match the $1200/paycheck downloaded through online services.

Now you have three “Credit” transactions in your 401K account.  One for $1200, one for $800 and one for $400 and your account is +$1200 out of balance.  You can’t delete the 2 transactions from your paycheck; therefore, what options do you have?

The two transactions from your paycheck come into the 401k account as “Transferred Cash In” (XIn) which is a “Credit” but, the $1200 also comes into this account as “Shares bought from Transferred funds” (BoughtX) also as a “Credit”.  Shouldn’t the BoughtX transaction be a “Debit”

What are the options?

1.       Delete the downloaded BoughtX transaction from online services after you recreate the transaction data from the downloaded transaction on the XIn.  The two paycheck transactions have no record of the six (6) mutual funds transactions that was downloaded through the online service link for the $1200 transaction and that will not work because XIn doesn’t have fields for Security Name, Number of Shares, Price per share, etc.

2.       Make a corresponding Debit transaction for each BoughtX Credit transaction?

How are others handling this in their 401k accounts?  Am I over looking the obvious?  Wouldn’t be the first time…

Thanks in advance for any help.

Willie T

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  • WillieT
    WillieT Member ✭✭
    Jim,

    You are da Man!  That was fast

    Thank you so much
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