401K Acct treats all transactions as using cash in acct, Employer adds shares directly - No cash

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Indycanard
Indycanard Member ✭✭
in Investing (Windows)
Around December 2017, transactions downloaded (via qif files monthly) for my 401K acct changed the entries from "X" (ie boughtx, sellx etc), to simply bought, sell etc. What this did was start adding a corresponding negative cash balance to the acct for each "bought/sell etc. I tried to edit one of the transactions to simply "boughtx", and it then required a transfer acct. All the downloaded transactions have a link back to this same acct. I can't select this acct. I could create a dummy acct and just link to that. That is the easy part. The hard part is I can find no way to F&R all "bought" transactions (or sell etc) in this one acct to replace three years of items. Not sure what happened back then, and I don't know how to fix. What IS odd is my wife's acct (same employer/401K) has worked flawlessly.
What am I missing here?
Note: My paycheck 401K contribution never is "seen" in the 401K acct. Only the purchase of shares. Therefore there is never a cash balance to use/correspond with the bought transactions in the 401K acct.
I'm using Windows Version R30.14, Build 37.1.30.15
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Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    If you set up your paycheck so that it uses your gross pay and includes the 401(k) contribution, the contribution money should appear in your 401(k) account.
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  • Sherlock
    Sherlock Member ✭✭✭✭
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    The paycheck contributions should appear in your 401K account for the purchase of securities.  Otherwise, you should be using Added action transactions to establish the holdings.  I suggest you correct the broken paycheck transactions.
  • Indycanard
    Indycanard Member ✭✭
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    Sounds like I need to go back to Dec 2017, when the action category changed in my 401K acct, and do a F&R the paycheck split categories for my 401K deduction and change to my 401K acct. I believe I can do a global F&R in my checking acct (where my paychecks are deposited). I'll setup my paycheck over to hopefully fix this for next year.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    You might want to try using the Paycheck Wizard to set up you paycheck if you are not already. It is hidden away at Planning > Tax Center > Add paycheck. On the first screen, choose Gross amount.
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  • Indycanard
    Indycanard Member ✭✭
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    I did go back and re categorized all my paycheck 401K deductions. I pointed that $$ into my 401K. That solved much of my problem. Unfortunately, my company has a match of my $$, and additionally extra $$ in lieu of a retirement plan. This ONLY shows up as bought shares in my 401K. Not on my paycheck. I don't see anyway to reconcile my 401K acct now. Maybe time to start fresh in 2021 and reset up my paycheck..
  • Sherlock
    Sherlock Member ✭✭✭✭
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    Indycanard said:
    I did go back and re categorized all my paycheck 401K deductions. I pointed that $$ into my 401K. That solved much of my problem. Unfortunately, my company has a match of my $$, and additionally extra $$ in lieu of a retirement plan. This ONLY shows up as bought shares in my 401K. Not on my paycheck. I don't see anyway to reconcile my 401K acct now. Maybe time to start fresh in 2021 and reset up my paycheck..
    Your employer contributions should should also appear in the paycheck transactions.  A quick fix would be to enter a balance adjustment: open the 401K account, press Ctrl + Shift + N, and select Update Cash Balance...
  • Indycanard
    Indycanard Member ✭✭
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    My employer does not show the employer match nor additional 401K contributions on my paycheck. I guess I will just manually adjust cash balance to zero monthly. The share value is spot on. I still don't understand my my wife's downloads are entered as "X" transactions (boughtx). None of her 401K paycheck contributions are linked to her 401K acct in Quicken, and her cash balance never deviates from 0. I think I will save the qif downloads for each of our 401K accts and use a text editor to compare. Something if different between us. Thanks
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    If you use the Paycheck Wizard, there is a place to enter the Employer Match and it creates all the splits and such behind the scenes. Normally it would be a percentage of your pay so you can compute the amount
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