Trouble with Merrill Lynch 401(k) downloading into Quicken

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Bobdirects
Bobdirects Member ✭
edited June 2022 in Investing (Windows)
I have been using Quicken 2011 for ages, just upgraded to the new version online (Deluxe). I see on my 401(k) web site I can transfer my data to Quicken, so I did so.

Now when I access that 401(k) account on my Quicken program, I see something odd.
The "amount" in the 401(k), according to Quicken, is roughly twice the amount it is actually worth.

The register for the 401(k) begins with an action called "Xln" that says "establish cash balance" under the security heading. That amount, let's say, is equal to $10,000. Then the register goes through all the transactions I've had since late January--where the money has been invested, etc. FWIW, the first "establish" transaction is not cleared or reconciled. All the other transactions are marked "clear".

Now at the BOTTOM of the register it says something like: Securities Value: $10,100 then Cash Value: $10,000 then Total Market Value: $20,100. [not real numbers of course]

So I guess I am wondering how to make the number in my Quicken account match the actual number I get from the 401(k) brokerage web site. Because it make me look "richer" than I actually am. LOL.

Also, I wonder if this is the right category to be posting in...or should this be in "accounts and transactions"?

Anyway, thanks in advance to anyone who can help me.
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Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    SO, is that Cash amount correct?  Is the Securities value correct?  Or neither?
    Also, it would help us to understand the issue, and look for other reports of this, if you'd name the Financial Institution that holds the 401(k)

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Bobdirects
    Bobdirects Member ✭
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    NotACPA,
    thanks for your response. Let me try to answer the questions.

    The Financial Institution is Merrill Lynch.

    I don't know which amount is correct or if neither is correct.

    When I originally began the "summary" from ML, showed a balance of (changed for privacy concerns) $10,100.

    Now when I look at the "Quicken" ledger (after downloaded from the ML site), I see a "securities value", a "cash balance" and a "total market value". The last number is a sum of the first two.

    Now today (April 30, 2022) as I look at the numbers, the "securities value" on the ML web site is "10,190", while my Quicken number is still at $10,100 (even though I ran 'update transactions' and 'update quotes' in the program). In other words, the amount shown by ML's web site is higher than what is on my Quicken site.

    Additionally, the total market value seems to add cash value to securities value to show a balance that really is higher than what my 401(k) seems to be worth! Maybe it is just my ignorance on how to read these things.

    Hope this helps you to help me. :)

    thanks.

    Bob
  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited April 2022
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    What is the exact name you have for the Quicken Account setup for this ML 401k -
    Quicken has two different entries avail - normal investments & just retirement 401k

    QWin - R54.16 - Win10

  • Bobdirects
    Bobdirects Member ✭
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    Hi, the exact name was entered as "Investment at Merrill Lynch Retirement". I used the download to Quicken feature on the ML web site.

    Thank you for any help you can provide. :)
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