Roth 401K Workaround stopped working correctly

Since Quicken still doesn't support Roth 401Ks, the workaround in the Paycheck wizard has been to enter a pre-tax 401K contribution of $0 in order to get the employer match field to show up, then enter an after-tax item for the employee Roth contribution.  This didn't work consistently up until a couple years ago when it started being a reliable workaround.  Now, with the most recent update, existing checks still show the workaround, but any new check entered, the account disappears from the $0 transaction and I get a notice of an uncategorized transaction.  If I go back into an old paycheck and hit "enter" without changing anything, the account disappears from that one too.

If there are no plans to support Roth 401k soon please at least restore the functionality that allowed the workaround.

Comments

  • Drinkingbird
    Drinkingbird Member ✭✭✭✭
    Actually it is even worse than I thought, it has reverted to the unreliable state from a couple years ago where the transfers into the 401K account randomly disappear and/or have the wrong memo on them.  This only started with the most recent big update a few days ago.
  • Drinkingbird
    Drinkingbird Member ✭✭✭✭
    Can anyone from quicken comment or forward this to the development teams?  This was the only way to track Roth 401K with employer match since quicken does not support Roth 401K
  • imdcareys
    imdcareys Member ✭✭✭✭
    edited November 23
    This is happening to me as well. I have put 1 cent into the memorized contribution to work around this new issue. I know that Quicken will likely take a long time to fix this, so I intend to change the 1 cent back to zero each time I enter a paycheck. Not sure if the 401k account will stick when I save the entry though.

    Quicken - we need this to work so the employer match gets saved to the 401k account, since - as Drinkingbird stated - you do not appear to intend supporting Roth 401k accounts.
    QW Home, Business, & Rental Property - Current version
  • Drinkingbird
    Drinkingbird Member ✭✭✭✭
    imdcareys said:
    This is happening to me as well. I have put 1 cent into the memorized contribution to work around this new issue. I know that Quicken will likely take a long time to fix this, so I intend to change the 1 cent back to zero each time I enter a paycheck. Not sure if the 401k account will stick when I save the entry though.

    Quicken - we need this to work so the employer match gets saved to the 401k account, since - as Drinkingbird stated - you do not appear to intend supporting Roth 401k accounts.

    Nah that was the first thing I tried, once you change it to 0 and save, the transfer account disappears and the uncategorized transaction warning shows up.

    Investment accounts don't support $0 transactions but this workaround was working for quite a while, apparently the $0 transfer wasn't blocked, but now it is.

    To make matters worse if I go back into my old paychecks (where the workaround worked) not only does the transfer get removed but the remaining transfers in the 401K account get all messed up.  Wrong comment, or get deleted completely messing up the balance.

    I guess technically the current way it is working is fine, I don't need the $0 transfer to show in the 401K account, just annoying seeing the "uncategorized transaction" warning and when you click it, not getting any real info on it.
  • imdcareys
    imdcareys Member ✭✭✭✭
    If you are getting an employer match, how are you getting that to work without the account in your paycheck?
    QW Home, Business, & Rental Property - Current version
  • Drinkingbird
    Drinkingbird Member ✭✭✭✭
    imdcareys said:
    If you are getting an employer match, how are you getting that to work without the account in your paycheck?

    My saved paycheck reminder transaction has the account in it, and it shows when entering the transaction.  It is only after saving the transaction that the account disappears from the $0 line item.  So the employer match does transfer correctly to the 401K account, I guess that happens before the account is removed (or in reality, the $0 transaction is rejected by the investment account).

    However if you go back in and edit that paycheck transaction and save it again, it can cause some funky issues, one of the transfers sometimes disappears, then save it again it comes back but has the wrong memo on it, etc.  

    This is how it used to work (badly) up until a year or two ago then the workaround started working perfectly, even if you edited the paycheck several times and saved it, everything was fine.   But the recent big update a couple weeks ago reverted back to that old behavior.

    For now I'm still using it, I rarely need to edit a paycheck transaction and am ignoring the "uncategorized transactions" warnings.  I'm hoping they can either fix it so this workaround goes back to working again or finally start supporting Roth 401K, shouldn't be that hard to implement after this many years.
  • imdcareys
    imdcareys Member ✭✭✭✭
    edited November 28
    Based on what you said, I saved the memorized paycheck with a zero amount in the contribution and the matching amount in the employer match along witht the 401k account. Then I didn't open it back up in edit mode for verification.  I posted the paycheck and it posted the match to the 401k account and the zero contribution without the account (uncategorized).

    I could be OK with that for a while and ignore the uncategorized part until I find time to deal with support.

    Thanks!
    QW Home, Business, & Rental Property - Current version
  • Drinkingbird
    Drinkingbird Member ✭✭✭✭
    imdcareys said:
    Based on what you said, I saved the memorized paycheck with a zero amount in the contribution and the matching amount in the employer match along witht the 401k account. Then I didn't open it back up in edit mode for verification.  I posted the paycheck and it posted the match to the 401k account and the zero contribution without the account (uncategorized).

    I could be OK with that for a while and ignore the uncategorized part until I find time to deal with support.

    Thanks!

    You actually can open and edit the scheduled transaction/reminder, just not the actual transactions once entered into your register, that is when problems arise.  You can open the actual transactions, just not save them (even if you make no changes) or you'll probably notice things get messed up in the 401K account.

    For the roth portion, I just add an after tax item that says "Employee ROTH Contribution" or whatever and put the same 401K account as the category.