How do you record a 401K Brokerage Company change in Quicken?

PERacing
PERacing Quicken Windows Other Member ✭✭
edited June 2021 in Investing (Windows)
My company change the brokage company handling the 401K account, but I cannot find out to make the change in Quicken to match. Does anyone know how to do this? It's not as simple as changing the brokage name.  :/

Answers

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Will the securities in the account be the same after the change, or is there a new line-up? 
    QWin Premier subscription
  • PERacing
    PERacing Quicken Windows Other Member ✭✭
    They are the same
  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    And are you downloading transactions from both the old and new brokerage, or entering them manually?
    QWin Premier subscription
  • PERacing
    PERacing Quicken Windows Other Member ✭✭
    They will be manual. The old had online feed, but the new does not. Would have to download and then import the activity. Easier to just manually enter.
  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited June 2021
    Ok, in that case I would simply wait until the transfer is complete then do one final download from the old account, to make sure any final dividends, fees, etc. are recorded.

    Delete or do not accept the transactions that remove the securities from the old account.

    Then go to the account details and deactivate online services for the old account.

    Then rename the account and financial institution and you should be done. [edited for completeness]

    QWin Premier subscription
  • PERacing
    PERacing Quicken Windows Other Member ✭✭
    That's what I thought, but, I cannot change the financial institution. All it does it change the account name. :/
  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited June 2021
    Once you have deactivated the online services, you should be able to change the financial institution.

    At any rate, if you are not downloading, it should not matter what the FI is.
    QWin Premier subscription
  • PERacing
    PERacing Quicken Windows Other Member ✭✭
    Got it! Got it to work now. Thank you so much for your help. :)
  • PERacing
    PERacing Quicken Windows Other Member ✭✭
    edited June 2021
    I have another quick question. Do you know why the contributions (mine and the employer match) all show up under banking as a negative number, but the actual holdings are listed under the retirement investment as a positive number, but the value is understated as a negative because it's missing the contributions amount. For example, let's say that the contributions are showing negative $31K and the 401K investment is showing positive $14K but the securities value is showing negative $21K. This $21K should really be $10K ($31K - $21K) and the $14K capital gain is really only $4K ($14K - $10K).

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