downloaded 401k transactions appear as Bought and not BoughtX - how can I correct it?

Nalgas
Nalgas Member ✭✭✭
edited October 2020 in Registers & Transactions (Windows)
Hello
My 401k transactions get downloaded as Bought instead of BoughtX, and this continues to build a negative cash balance. Each paycheck has 7 funds purchased, and each fund purchase appears as 3 transactions: 1 for pre-tax, 1 for post-tax, and 1 for company match; I know it's frustrating, but I cannot do anything about it. Doing a manual correction of the 21 transactions every paycheck will be very tedious.

Is there a way to force the transactions to come in as BoughtX so that the cash balance remains intact?

Plan B is to periodically and manually add a cash correction transaction to zero the account's cash balance.

Answers

  • Rich_M
    Rich_M Member ✭✭✭✭
    edited October 2020
    @Nalgas You don't have any control of the downloaded transaction types, that's the way they're sent. 

    I don't know how you setup your paycheck reminder, but it should have an entry that transfers a portion of your cash to your 401k to cover the purchases.
    Quicken 2017 Premier - Windows 10 Pro
  • Nalgas
    Nalgas Member ✭✭✭
    thank you RIch
    I stopped recording my paychecks years ago because I didn't find it useful or beneficial.
    I will continue to do manual and periodical cash adjustments.
  • Rich_M
    Rich_M Member ✭✭✭✭
    edited October 2020
    @Nalgas To be honest, I think it's very beneficial.

    If you setup your paycheck to record your tax withholdings and pre-tax payments towards medical and your 401k, you will have a very useful summary for tax purposes at year end. 

    Most importantly, your 401k, will reflect the cash needed to record your purchases.

    I've always done this myself and found only minor adjustments are needed with each paycheck.

    Try it.
    Quicken 2017 Premier - Windows 10 Pro

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