403b account converts a deposit transaction to a buy

Question

I've been tracking my 401k using transfers from my paycheck into the 401k account. This shows up as a deposit transaction and then Quicken downloads the buy transaction from the bank.  This will show a positive cash balance then when the shares are purchased the balance returns to $0.

I've started tracking my wife's 403b the same way but the deposit transactions automatically convert to a buy and Quicken somehow determines the number of shares bought.  Then downloading the transaction effectively doubles the number of shares owned.  The balance always stays at $0.

I attempted to enter a transaction manually but it changes to a buy when I enter it into the register.

I'm using Mac Classic.

Thanks,

starr.ryan · Answer

I'm running Classic 7.5.2 for Mac.  I've only been tracking the account for a couple days so this is the first I've seen it.

I'm getting this message when attempting to change a transfer.

Manually entered transactions would automatically change to a "buy".  I just tried to change it and got this.  I see now where I can change between single mutual fund and not.  I will try this and see if there is any issues.

Quicken Kristina · Answer

Hello @starr.ryan,

To assist with this issue, please provide more information.  When did you first notice this issue?  If you recall, which version of Quicken were you using when the issue started?  Does this happen only in the 403b account?  If that account is connected, which financial institution is the account connected to?

What process are you using when you enter the transaction manually?  I know Quicken defaults to Buy for the transaction type, but you should be able to click the dropdown and change it to Payment/Deposit.

I look forward to your response!