Managing a non supported 401K in Quicken
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jsmith2038
Member ✭
I just switched from Mint to quicken because it seemed to have so many more tools available, and now I am realizing that it does not support either of the 401k's that I have. It seems like every link for manually entering 401K transactions I find on the quicken site is broken. Has anyone found any good directions? I can export transactions, but quicken does not take them. Thinking I made a bad purchase decision here. Quickens budget and planning tools are much better, but if I have to manually do all of my 401k stuff, this is going to be a pain.
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Best Answer
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It should not be difficult to set up a manual 401k in Quicken, depending on how much information is available in your statements.
First set up the 401k account in Quicken as a manual 401k account.
Then set up your paycheck so that the deductions and company match if any are sent to the 401k account. The easiest way to do this is to use the Paycheck Wizard.
This will cause the cash balance in the 401k account to grow with each paycheck. Then when you receive the statement, enter the appropriate Buy transactions to buy the securities as shown in the statement, bringing the cash balance to zero.QWin Premier subscription6
Answers
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What version and release of Quicken are you using?What do you mean by "it does not support either of the 401k's"? No ability to download transactions into Quicken, or something else?0
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I am using Year 2020 version R23.18
No ability to download transactions from my institutions.0 -
I have the subscription, only way to purchase at this point.0
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Hello @jsmith2038
Thank you for taking the time to visit the Community to post your issue, although I apologize that you haven't received a response.
If you are still needing assistance please take a moment to review the information available here.
If the financial institution is still missing after these steps, your bank may not yet support Quicken. 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.
Thank you,
-Quicken Tyka
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It should not be difficult to set up a manual 401k in Quicken, depending on how much information is available in your statements.
First set up the 401k account in Quicken as a manual 401k account.
Then set up your paycheck so that the deductions and company match if any are sent to the 401k account. The easiest way to do this is to use the Paycheck Wizard.
This will cause the cash balance in the 401k account to grow with each paycheck. Then when you receive the statement, enter the appropriate Buy transactions to buy the securities as shown in the statement, bringing the cash balance to zero.QWin Premier subscription6
