How do you manually put your Employer’s "matching" contributions into your 403b account?

Mr BlattSplatt
Mr BlattSplatt Member
edited July 2021 in Investing (Windows)
I have a 403b account set up in Quicken but I have to manually put in all of my transactions, including my employer's contributions. What is the right way to manually list these (employer contributions) transactions into my 403b account?

Comments

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited July 2021
    Just to clarify - you have manually setup a Quicken account to reflect your 403b -
    Where is your 403b account held... what brokerage - and they don't appear in the Quicken list for - Add Account ?
    For a manual account - there are a couple ways to go....
    1 - Add Account.... to reflect the real account and brokerage
    2 - depending upon what securities or investments might be held...
    you can use the real symbol like AAPL
    or have to setup a virtual security symbol to manually track along with your 403b statement.
    3 - Then, you can manually enter transactions and pricing quotes from your statement into Quicken.
    QWin Deluxe Subscription - Win10
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    One way to handle 403(b) and 401(k) contributions including employer match and other payroll deductions is with Quicken's Paycheck Wizard.

    You can find this at Planning > Tax center and click on Add Paycheck. On the first step, pick Gross amount.
    QWin Premier subscription
  • My 403b account through Mutual of America isn't listed through Quicken so it was manually put in. I also had to "make-up" tickers for a few of my investments in the 403b. However, I do not see a function where my Employer puts in their contribution unless I just add it in as an additional Xln like I do for my own contribution from my paycheck. That is my situation right now. Sincerely, Mr. BlattSplatt
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Try the Paycheck Wizard for your contributions and the Employer match. That will put cash into the account.

    Your statement should indicate how many shares of each security were purchased with the cash. Enter that information as Bought transactions.
    QWin Premier subscription
  • I will give that a shot. Thanks
  • However, Imy 403b is backdated to Nov 2018. I would still have to put in Xln for cash up until this point in time! Then I assume I would utilize the Paycheck Wizard for my future contributions.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Yes, if you want a complete record you need to enter all the transactions.

    If you want the account to balance going forward, you could pick a starting date - 12/31/2020  or 6/30/2021 for example. Click the gear at the top right of the account page and pick Update Share balance. Set the starting date and the correct share balance as of that date. This will enter an Added or Removed transaction to adjust the balance. Do the same with Update Cash balance.
    QWin Premier subscription
  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited July 2021
    My 403b account through Mutual of America
    yeah... just searched the Quicken config file and couldn't find their website URL listed in the entries - sorry -


    QWin Deluxe Subscription - Win10
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