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Adding 529 Account, Linking multiple funds to single account.

I'm attempting to set up a 529 account. The service provider provides a primary account number with individual posts to different funds. When I attempt to add to primary account quicken see the different funds but will only create a separate account for each fund. How do you link them all to a single primary account.

Answers

  • BK
    BK Member ✭✭✭✭
    edited January 7
    Some 529's treat each fund you invest in as a separate account #.
    Example: Fund12-Acc123,  Fund45-Acc123,  Fund98-Acc123
    So although your main Acc # is the same, the combination of Fund#+Acc# make each of them unique and therefore that is what you see in Quicken.  They are treated as an account with a single mutual fund in it.  Hence you will get multiple accounts in Quicken.  I don't think there is a way to merge them and still receive downloads.  Unless you plan to enter everything manually.
    - Q Win Deluxe user since 2010, US Subs R32.12
    - I don't use Sync, Cloud, Mobile, Web, Bill Pay/Mgr, Tax
    - Techie, Win10 Pro x64 20H2
  • ken1619
    ken1619 Member
    BK
    You are correct about the way the provider setups the accounts from their side. As you say quicken see each one separately so if they can't be linked the only way will be to input them manually from statements.
    Thanks!
  • BK
    BK Member ✭✭✭✭
    Exactly @ken1619 .  FYI, my Scholarshare 529 stopped supporting Quicken in 2020 all together, not even updating the price.  So I was 100% manual - bummer!  I took that opportunity to manually merge 5 Accounts into a single one and it is now much cleaner.
    But in your case technically you can have multiple accounts in Quicken so that they can be updated thru downloads, so that you don't have to do the manual entry.  Your decision.
    - Q Win Deluxe user since 2010, US Subs R32.12
    - I don't use Sync, Cloud, Mobile, Web, Bill Pay/Mgr, Tax
    - Techie, Win10 Pro x64 20H2
  • BK
    BK Member ✭✭✭✭
    By the way, as part of your decision making to go manual, consider that the price quotes won't update either.  So not only you have to enter the transactions manually, but also you have to update the prices manually or the market values will be off.  Too much work in my opinion.  If it were me, I would allow Quicken to add and download multiple accounts.  Cheers.
    - Q Win Deluxe user since 2010, US Subs R32.12
    - I don't use Sync, Cloud, Mobile, Web, Bill Pay/Mgr, Tax
    - Techie, Win10 Pro x64 20H2
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