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Posted by John Pollard on November 16, 2006, 9:23 am
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> This is for Quicken 2006 Deluxe.
>
> I had a rollover from my previous employers 401k (with
> Vanguard) into
> my currently employers 401k (also Vanguard). I went to
> download my
> latest information online and after accepting the downloaded
> transactions I was told that my holding amounts do not match
> the ones
> downloaded and do I want to enter placeholders.
>
> In looking at the placeholder transactions that it wants to
> add there
> is something very odd.
>
> Each security that needs the placeholder is listed twice and
> the shares
> are inverses of each other.
>
> example:
>
> Fund1:
> Total Shares Owned: 0
> Shares in Quicken: 3513.337
> Placeholder entry (missing shares): -3513.337
>
> Fund1:
> Total Shares Owned: 3513.337
> Shares in Quicken: 0
> Placeholder entry (missing shares): 3513.337
>
> Fund2:
> Total Shares Owned: 0
> Shares in Quicken: 213.721
> Placeholder entry (missing shares): -213.721
>
> Fund2:
> Total Shares Owned: 240.035
> Shares in Quicken: 26.31342
> Placeholder entry (missing shares): 213.72157
> (this one might be different since it does show shares owned
> and in
> Quicken)
>
> I accepted the placeholders and then tried to enter missing
> transactions or delete ones that seem to be applied
> incorrectly but I
> cannot get it settled.
>
> I know that in the past that I have manually entered
> transaction and
> have also used web connect to accept or match other
> transactions.
>
> It seems that some transactions are allocated with one
> instance of the
> security and some with another instance of the same type (I
> could be
> off here).
I have a guess; I made the same guess several times in the past.
The OFX specs allow for seven "sources" of contributions in a
401k account: "Pretax", "After tax", "Employer match",
"Rollover", "Profit sharing", "Other vested", "Other
non-vested". Same seven sources for "Earnings" and
"Withdrawals".
My guess is that the placeholders whose share amounts offset
each other are intended to switch "sources"; where Quicken may
show your holdings as coming from "Other non-vested", and your
fi may download holdings coming from "Rollover".
My theory has been difficult for me to prove because I have not
been able to get Quicken to consistently show the value it has
for "Source" (I think that is the name Quicken uses); because
most of the time I can't find the button - that I know I have
seen before - on the investment account transactions that allows
one to see the source for a transaction.
When the subject first came up - probably well over a year ago -
I was able to see some 401k transactions that had the "source"
button and I even printed out a copy of Quicken's names for the
seven sources. But I have rarely ever been able to see that
button again, and since I do not have a problem in this area, I
have not spent much more time researching it. [In addition to
seeing the source "button", I am almost certain that one of
Quicken's displays (probably on the "Summary" tab of the
account) would show the amounts for each source ... but I have
not been able to reproduce that either.]
You may be able to verify some, or all, of my suspicion if you
are up to looking at your OFXlog. If it doesn't seem intuitive,
you can get the OFX speces for free from the organization's web
site.
> Any idea on how to fix this?
If my theory is correct, I don't think *you* can "fix" it. If
Quicken is carrying your 401k contributions as one source, and
your fi is reporting them as another; I can think of only two
possible fixes: Quicken allows you to easily control the correct
source for 401k activity, or eliminates any trace of the source
and does not look at source for downloaded holdings ... or the
fi reports the holdings the same as Quicken.
In the meantime, I do not think you must accept the
placeholders. If they were to permanently synchronize things,
it might be worth keeping them. But if, for example, Quicken
automatically dumps all its 401k activity (say, employee
paycheck contributions, for example) into the "Other vested"
source, while your fi "correctly" classifies the sources (as
pretax contributions, for example), you will always be out of
sync with the fi and will always be offered placeholders.
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