How should IRA contributions appear?

I'm still very new to Quicken and have it synced to several bank accounts including my main checking at Bank of America, and my IRA's at Merrill Lynch (Merrill Edge).

When I sync my accounts and look at all transactions, they look like this. (I would do this as a screenshot but it won't let me upload a screenshot, so I'm typing out each column.)

03/15/21 || Merrill Lynch || Transfer || -$5000.00 || Bank of America Checking
03/15/21 || Employer Contrib || [Merrill IRA] || +$5000.00 || Merrill IRA

I believe that's right, because the two transactions cancel each other out (-5k and +5k), but I wanted to make sure that the way the "Transfer" and "[Merrill IRA]" categories show up is correct, so that they get categorized properly.

Best Answer

  • Quicken Anja
    Quicken Anja Moderator mod
    Accepted Answer
    Hello @aksdjfhlk23fkjhsa,

    Thank you for reaching out to the Community with your question.

    Based on what you described, this does appear to be correct.

    Also, just for future reference, if you do not have the option to attach a screenshot, then alternatively, you can drag and drop screenshots to your response instead. 

    Additionally, being that you are a new user, I would like to inform you that you do have the option to schedule a one-on-one tour with our Quicken 1-2-3 team. 

    By doing so, one of our Quicken 1-2-3 team members will contact you via phone at your scheduled appointment time. This team has been specifically trained and put together to assist our new customers in getting familiarized with the program and learn how to utilize it to fit your needs, as well as answer any questions and/or address any concerns you may have.

    If this is something that would interest you, then please, click here to select a time slot and schedule your tour! Alternatively, you can also call them directly at your own convenience. The phone number can be found through that same link.

    I hope this helps!
    -Quicken Anja

Answers

  • Quicken Anja
    Quicken Anja Moderator mod
    Accepted Answer
    Hello @aksdjfhlk23fkjhsa,

    Thank you for reaching out to the Community with your question.

    Based on what you described, this does appear to be correct.

    Also, just for future reference, if you do not have the option to attach a screenshot, then alternatively, you can drag and drop screenshots to your response instead. 

    Additionally, being that you are a new user, I would like to inform you that you do have the option to schedule a one-on-one tour with our Quicken 1-2-3 team. 

    By doing so, one of our Quicken 1-2-3 team members will contact you via phone at your scheduled appointment time. This team has been specifically trained and put together to assist our new customers in getting familiarized with the program and learn how to utilize it to fit your needs, as well as answer any questions and/or address any concerns you may have.

    If this is something that would interest you, then please, click here to select a time slot and schedule your tour! Alternatively, you can also call them directly at your own convenience. The phone number can be found through that same link.

    I hope this helps!
    -Quicken Anja
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