When adding a manual 529 or 401K account, do I need to enter older transactions? [e]

Rdoubetw

I have a 529 account that was opened in 2021. The financial institute is not supported by online access with quicken and does not have a feature that downloads transactions or statements to quicken file. Am I supposed to enter each transaction manually?

Quicken Anja

Hello @Rdoubetw,

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

First, could you please provide the name of your financial institution so we can double-check and verify online connectivity support or the lack thereof?

If your financial institution does not support automatic downloads or 2-step downloads (QFX) with Quicken, then it would require manual entry of transactions.

In order for a financial institution to support downloads to Quicken and to be added to our bank list, the request to be added would need to be made and submitted by the financial institution to our service providers. If you want Quicken to be supported, you will need to contact your financial institution directly and tell them you'd like to download your accounts into Quicken.

I hope this information serves to be useful to you! Thank you.

Rdoubetw

401K: https://fba.retirement.schwabrt.com/participant/
529: https://www.ny529advisor.com/

Rdoubetw

Also, do I need to enter all historical transactions?

Ps56k2

I had an Illinois 529 account that I setup in Quicken for manual tracking -

I created the accounts - created a virtual security of the mutual fund in the 529 account -
When I received any statements, I would manually enter any transactions - deposit, withdrawal, divs, etc
and also update the Price of the virtual security mutual fund, so the current real world market value would be reflected.

Jim_Harman

To answer your questions another way, you can enter the historical transactions if you want, but you do not have to. If you don't want to enter the old transactions, you can enter Added transactions to create your initial share balances and just go forward from there. If the old transactions are not present, Quicken will not be able to calculate you performance for that period.