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Quicken Classic for Windows
Investing (Windows)
Why are Fidelity 401K BOUGHTX Transactions not accepted correctly into the register?
deftleft
Every two weeks my Fidelity 401K transactions are downloaded as BoughtX but converted to Bought transactions when accepted to the register. I have to manually edit each one after accepting to the register and change the type to BoughtX and select the name of the account.
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Accepted answers
Jim_Harman
Fidelity does not know what account in Quicken the transfer came from, so I don't think there is any way for these transactions to be recorded directly.
One way to handle this would be to record your paycheck as a split transaction that transfers the 401k contribution to the 401k account. Then your 401k account will show Xin transactions for the cash and the downloaded Boughts. Quicken's Paycheck Wizard makes this easy to set uup.
deftleft
Jim, Appreciate the quick response--much better than quicken support. So the problem is Fidelity only sends the share purchase transactions and does not send the employee contribution from the paycheck or company matching contribution cash in transactions. Not sure I want to do the extra work setting up the paycheck as it would still not capture the company matching contributions. I will probably just keep editing the transactions every two weeks. Thanks again for your help.
All comments
Jim_Harman
Fidelity does not know what account in Quicken the transfer came from, so I don't think there is any way for these transactions to be recorded directly.
One way to handle this would be to record your paycheck as a split transaction that transfers the 401k contribution to the 401k account. Then your 401k account will show Xin transactions for the cash and the downloaded Boughts. Quicken's Paycheck Wizard makes this easy to set uup.
deftleft
Jim, Appreciate the quick response--much better than quicken support. So the problem is Fidelity only sends the share purchase transactions and does not send the employee contribution from the paycheck or company matching contribution cash in transactions. Not sure I want to do the extra work setting up the paycheck as it would still not capture the company matching contributions. I will probably just keep editing the transactions every two weeks. Thanks again for your help.
Jim_Harman
Check out the Paycheck Wizard. It is hidden away at Planning > Tax Center. The Add Paycheck button is at the bottom right.
Use the Gross amount option on the first page. The wizard includes places to enter 401k deductions, the Employer match, tax withholding, and other pre and post tax deductions.
The start of a new year is a good time to make this change. It takes a little time to set up, but it will greatly improve Quicken's ability to track your pay and taxes.
Terry Locke
>
@deftleft
said:
> Every two weeks my Fidelity 401K transactions are downloaded as BoughtX but converted to Bought transactions when accepted to the register. I have to manually edit each one after accepting to the register and change the type to BoughtX and select the name of the account.
@deftleft
At some point in time in that 401K you had a 'cash' type transaction. Have a look at the thread "How to reclassify transactions from BoughtX to Bought" and look at the final two comments I made in that thread. There are bugs in the way Quicken treats Buy transactions in a 401K and it really depends on the sequence of entering transactions and whether or not you are using a "Gross Amount" paycheck with a 401K transfer.
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