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Posted by cenews0925 on November 24, 2007, 5:06 pm
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I searched deja but haven't been able to find anyone else with the
same
problem, although I'm sure it has come up. It is in regards to how my
401k
is appearing in Quicken.
I post my paycheck to my checking account in quicken. I show the
gross,
taxes, 401k, etc then have a net posting with the dollar amount. I
have a
line item that records to _401Contrib with a negative amount. I did
this to
show money was taken out of my check and went to my 401k.
Every quarter, I get my 401k statement from my company. I click on
"update
401k holdings", and enter the money I put in, and the amount my
company
matches. Quicken registers the money I put into the 401 account as
"Xin",
and registers the amount my company matches as misc. income.
The problem I am having is when I look at Income/Expense over the
period of
a month (or year), the amount of 401k money I put in (not the company
match)
shows up as a negative amount under income.
If I were to delete the "Xin" entry and replace it with a "Miscinc"
for my
contribution within the 401k account, then I would it balance to "0",
instead of it being negative.
I am using Quicken 2008, but it appears the problem also occurred
while
using Quicken 2006. Is there a "correct" way to do this? Since my
401k
shows up as negative since it only records the amount taken out of my
check,
and not the amount I put in from the 401k statement, it appears I am
making
far less than I actually am.
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