401k configuration

Clayton · September 2019

When I set up my 401k in quicken 2017 premier it asked me if I wanted to enter each security so I could track their performance or not to track their performance.
I chose to enter each security. This was a mistake I my part because the investment company has changed many of those securities over the years due to pure performance
now it takes so long to reconcile my account. How can I change this setting so when I go to reconcile my 401k account all I have to do is enter the beginning balance, contributions and the ending balance?

Jim_Harman · September 2019

One way to do this would be to

-- back up your data in case you do not like the result

-- In Quicken, Sell the entire holding of each security using the date.and share price of your last reconciliation When you are done, the cash balance of your account should equal the account value as of the reconciliation date.

-- continue to record contributions.

-- To reconcile, click on the gear at the top right of the account then Update Cash Balance to set the balance to the amount shown on your statement.

Note that this will interfere with Quicken's Asset Allocation calculations, because it will think your entire 401k balance is in cash.

Jim_Harman · September 2019

One way to do this would be to

-- back up your data in case you do not like the result

-- In Quicken, Sell the entire holding of each security using the date.and share price of your last reconciliation When you are done, the cash balance of your account should equal the account value as of the reconciliation date.

-- continue to record contributions.

-- To reconcile, click on the gear at the top right of the account then Update Cash Balance to set the balance to the amount shown on your statement.

Note that this will interfere with Quicken's Asset Allocation calculations, because it will think your entire 401k balance is in cash.

401k configuration

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