I just added my 401(k) account into Quicken 2020

richnet10

I downloaded the transactions from the bank, when I reconcile the transactions show 0.00 and a difference in total. No matter what I do I can't get the difference # to 0.00. When I go to the transaction it shows a #. Am I doing something wrong or is the a glitch in the program?

R. Henry

Quicken Francisco

Hello @richnet10

Thank you for reaching out on the community and telling us about your issue. Occasionally when adding a new Investment account transactions won't come through instantly and take a couple of days before they appear. It's depends on the financial institution primarily as I know a couple like Wells Fargo will do the same thing. Could I ask which FI you're using and we can take a look to see if that's the case.

Once you get a chance let us know what FI you're using and we'll see what we can find!

Thanks,

Quicken Francisco

richnet10

I use Kentucky Deferred Compensation which some how connected with Nationwide Financial. When I set up the account Quicken doesn't display the company in the search list but will connect and set up the account. I have to download the transactions then import them into Quicken. Any advice is welcomed.

Boatnmaniac

This could be an issue in which there are recent buy or sell transactions that have not yet been settled.  In essence they are pending transactions.  Banks and credit cards don't usually download pending transactions so the online and register balances correlate well with the transactions that have been downloaded.  But investment companies often do download them so the holdings get updated but the cash balance does not and the account cannot then be reconciled.  Once the buy/sell transactions get settled, the online cash balance in Quicken will update and then the reconciliation can be completed.

SEC regulations require buy/sell transactions to be settled within 3 days of the buy/sell transaction date to avoid incurring a late settlement penalty fee.  It is not unusual for settlements to take 4 days but most settlements are completed within the 3 days window.

If your situation is due to some trade settlements not being completed, then the solution is to wait up to 3-4 days after the trades were made and update the account again.

It can also be an issue regarding how the investment company downloads Core Funds (also referred to as Settlement Funds or Sweep Accounts) and Cash.  The name of the investment company can help us to identify if that as a potential cause, too.