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
