SIMPLE IRA

mlange0426

I've got a SIMPLE IRA set in my paycheck; it includes the participant amount and employer match. Quicken, however, is making a single entry into my SIMPLE IRA investment account in Quicken. When I download transactions from Fidelity, they simultaneously come into Quicken as a participant amount and employer amount. They never match what is in my Quicken investment account since it is combined as a single transaction. How can I change this?

NotACPA

Within your paycheck transaction, assign a TAG to one part of the IRA payments (or both). If both, use different tags. Either action will cause 2 transactions to appear in the IRA account.

mlange0426

This is what my paycheck setup looks like, I'm not seeing where I can assign a tag to one or both sides of the contribution.

mlange0426

I'm using Quicken Classic Deluxe if that helps any.

NotACPA

In the Category/Account field place "/Match" (without the quotes) after the account name on the employer match line. Or whatever you want (with the slash) on your contrib line.

mlange0426

Unless I'm doing something wrong, the Account field only allows me to select and existing account from the drop-down box. I don't see a way to add "/Match" after it.

NotACPA

HMMM, that slash usually works … but I'm unsure as to why you're getting a single line in the IRA account.

Looking back at by wife's account, before she retired, she's getting 2 lines.

What's actually showing in the IRA account?

mlange0426

This is what I can't figure out why its coming in this way. Two separate amounts in my paycheck (employee and employer match), but comes into my Fidelity SIMPLE IRA account as a single entry with the combined total. Honestly, it's not that big of deal to reconcile, just was trying to find if I maybe missed setting something up right.

NotACPA

Grasping at straws. Are you downloading into the account before you input the paycheck txn? So that the 1st input of this is the download?

mlange0426

No… paycheck is done in Quicken a few days before the downloaded transaction from Fidelity comes in. But because the entry from my paycheck is a single entry in the account, the two downloaded transactions from Fidelity don't match. I do very much appreciate your help, like I said, not that big of deal, was just puzzled why Quicken was doing it that way and if I may have missed something.

NotACPA

OK, one more thing to try … but a bit more info needed.

When you do TOOLS, Account List what shows, across from this account, in the "Transaction Download" column? In the "Financial Institution" column? If these columns aren't visible, click OPTIONS at the bottom of the dialog to reveal them.