401k input suggestions

Posted by Joe on May 15, 2007, 9:08 pm

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I'm looking for suggestions how to account for my 401k in quicken. When I
get my paycheck I have $200 I contribute to my 401k, $100 dollars my
employer contributes, then I have a $75.00 home loan repayment. $350.00 of
it goes into my 401k Schwab account, the remaining $25.00 goes into my
company 401k that is a separate account . (Since my company offers the
Schwab 401k and their own properity funds I treat them as two separate
accounts)

Currently, I have a checking account that records my paycheck, and has
manual transfers going to my Schwab 401k account and private 401k account. I
would like to be able to use the automatic function when money posts to my
Schwab account, but my paycheck goes haywire if I omit the money that comes
in my paycheck. Currently when my $350 records automatically with Schwab, I
reject it since it is already manually entered in.

Is there a better way for me to record this ? I'm concerned if I'm doing it
incorrectly I might regret it down the road.

Posted by Oilcan on May 16, 2007, 2:29 am

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> I'm looking for suggestions how to account for my 401k in quicken. When I

> get my paycheck I have $200 I contribute to my 401k, $100 dollars my

> employer contributes, then I have a $75.00 home loan repayment. $350.00 of

> it goes into my 401k Schwab account, the remaining $25.00 goes into my

> company 401k that is a separate account . (Since my company offers the

> Schwab 401k and their own properity funds I treat them as two separate

> accounts)

> Currently, I have a checking account that records my paycheck, and has

> manual transfers going to my Schwab 401k account and private 401k account. I

> would like to be able to use the automatic function when money posts to my

> Schwab account, but my paycheck goes haywire if I omit the money that comes

> in my paycheck. Currently when my $350 records automatically with Schwab, I

> reject it since it is already manually entered in.

> Is there a better way for me to record this ? I'm concerned if I'm doing it

> incorrectly I might regret it down the road.

Ah, the multiple date and which date to use question. The important
date in the Schwab account is the date the investment is bought. You
might have a slight cash imbalance for a couple of days.

In my case I have four accounts dealing with a paycheck - Primary
Bank, Secondary Bank, Credit Union and Vanguard 401K. If my paycheck
is payable on the X of a month, I sometimes see that Vanguard has
innvested funds up to three day's earlier then the check date (I
assume they have the funds from my company). My Primary and Secondary
Bank will always have the funds available of the morning of the check
date while my Credit Union will always have the funds available the
morning of the day before the date of my paycheck. I just use the
date my Primary Bank uses as the date of the Quicken transaction.

Posted by Bob Wang on May 16, 2007, 1:17 pm

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Joe:

You may not be in the same situation as I, but I have to treat my 401(k) as
a tax-deferred retirement account and not specifically as a 401(k) in order
for Quicken 2007 Direct Connect to work.

That said, one drawback to deleting the downloaded transaction is that, *IF*
you ever want to separate out your cash in a checking account, you'll have a
lot of transactions that do not have posting dates, and will pop up on
"match manually."

I am hoping that Schwab will eventually fix the glitch that prevents
downloading into a Quicken 401(k) account.

Bob

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