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Subject Author Date
Need help with tracking employer paid benefits fj 05-04-2007
Posted by Don in San Antonio on May 6, 2007, 12:57 pm
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 Han said the following on 5/6/2007 7:50 AM:
>
>> Han said the following on 5/6/2007 6:28 AM:
>>>
>>>> fj said the following on 5/4/2007 8:18 PM:
>>>>> Using Quicken XG 2006.
>>>>> I have recently changed jobs and need advise on how to set up my
>>>>> paycheck and track employer paid benefits. There are 3 separate
>>>>> accounts which the company has set up for these benefits to go
>>>>> into.
>>>>> A. direct trading account- into which goes:
>>>>> 1. an after tax deduction from my paycheck(savings
>>>>> plan)- buys
>>>>> mutual funds of my choosing
>>>>> 2. an employer paid benefit- buys shares of the company
>>>>> B. RSP account- into which goes a before tax deduction into my
>>>>> RSP-buys
>>>>> mutual funds
>>>>> C. RPP account- into which goes a wholely employer paid
>>>>> benefit-buys
>>>>> mutual funds
>>>>> I have set up three different accounts for this money to go into.
>>>>> I've set up the paycheck for my basic deductions, but can't seem to
>>>>> set up all of these transactions from within the paycheck. It looks
>>>>> like I can only set up the RSP deduction(B) and the after tax
>>>>> savings plan(A-1) within the paycheck. I believe I will have to
>>>>> manually enter the employer paid benefit(A-2) and employer paid RPP
>>>>> benefit (C). I've tried setting up A-2 from within the paycheck,
>>>>> but quicken sometimes confuses which accounts the money should go
>>>>> in and screws up the transaction.
>>>>>
>>>>> Feedback anyone?
>>>>>
>>>>> Thanks
>>>>>
>>>>>
>>>>>
>>>> I believe you're correct about not being able to include employer
>>>> contributions in paycheck. Employer contributions don't show up on
>>>> my pay stub either. I'm using Quicken 2005 Premier so it's possible
>>>> later versions have added a feature to cover this sort of thing.
>>>> Don
>>>>
>>> I get employer paid contributions to a TIAA-CREF plan. Haven't been
>>> able to figure out downloads from them, so I have a recurrent
>>> transaction that has to be edited biweekly to reflect then current
>>> prices. I set it up as an "add" transaction, which means (AFAIK)
>>> that it just gets added. There won't be an account the money comes
>>> from, and there are no tax consequences whatsoever, I think (I'm not
>>> yet withdrawing, and I'm over 59 1/2).
>>>
>>>
>> I'm also with TIAA-CREF and I've been able to download employer
>> contributions into an account, but they always import as a buy
>> transaction. I just change them to add transactions and press on.
>>
> How do you download from TIAA? I've looked on the website, but can't
> find how to. Apparently poor eyesight <grin>.
>
After you log onto TIAA-CREF click on the "Manage My Portfolio" tab then
scroll down to the bottom of the page. In the left column is "Download
Account Data to Quicken."

Posted by Han on May 6, 2007, 1:10 pm
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 $4c368faf@roadrunner.com:

>>> I'm also with TIAA-CREF and I've been able to download employer
>>> contributions into an account, but they always import as a buy
>>> transaction. I just change them to add transactions and press on.
>>>
>> How do you download from TIAA? I've looked on the website, but can't
>> find how to. Apparently poor eyesight <grin>.
>>
> After you log onto TIAA-CREF click on the "Manage My Portfolio" tab then
> scroll down to the bottom of the page. In the left column is "Download
> Account Data to Quicken."
>

<sheepishly>
I found the download for my accounts. However, TIAA-CREF has a different
view of how this should/could be done than I do. Even if I get a download
into the proper account, it messes up previous entries, adds all kinds of
placeholders, and generally confuses me to oblivion.

I may eventually just set up a new Quicken file for TIAA-Cref and download
into accounts there, so I can really see what should be in each account.
For now, I will keep track of recent transactions at the website and punch
them into my main file as appropriate.

Good thing I do a backup after each of my sessions with Quicken so I could
go back to earlier this morning and erase all the downloaded nonsense ...
</sheepishly>

--
Best regards
Han
email address is invalid

Posted by Don in San Antonio on May 6, 2007, 7:22 pm
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Han said the following on 5/6/2007 12:10 PM:
> $4c368faf@roadrunner.com:
>
>>>> I'm also with TIAA-CREF and I've been able to download employer
>>>> contributions into an account, but they always import as a buy
>>>> transaction. I just change them to add transactions and press on.
>>>>
>>> How do you download from TIAA? I've looked on the website, but can't
>>> find how to. Apparently poor eyesight <grin>.
>>>
>> After you log onto TIAA-CREF click on the "Manage My Portfolio" tab then
>> scroll down to the bottom of the page. In the left column is "Download
>> Account Data to Quicken."
>>
>
> <sheepishly>
> I found the download for my accounts. However, TIAA-CREF has a different
> view of how this should/could be done than I do. Even if I get a download
> into the proper account, it messes up previous entries, adds all kinds of
> placeholders, and generally confuses me to oblivion.
>
> I may eventually just set up a new Quicken file for TIAA-Cref and download
> into accounts there, so I can really see what should be in each account.
> For now, I will keep track of recent transactions at the website and punch
> them into my main file as appropriate.
>
> Good thing I do a backup after each of my sessions with Quicken so I could
> go back to earlier this morning and erase all the downloaded nonsense ...
> </sheepishly>
>
Sorry :-( I should have warned you about downloads from TIAA-CREF. I
thought about what might happen right after I pressed the send button. I
think most people would agree that just typing in the transactions is
easier, and much safer. TIAA-CREF is a great organization, but they
have a ways to go with their web downloads. Glad you had a backup. I
too had to do a restore from backups after trying a Corporate
Acquisition to account for a mutual fund merger from TIAA-CREF. If it
wasn't for the money, I'd move everything to Vanguard or USAA, both do
an excellent job with Quicken downloads. :-)

Posted by Han on May 6, 2007, 9:41 pm
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> Han said the following on 5/6/2007 12:10 PM:
>> $4c368faf@roadrunner.com:
>>
>>>>> I'm also with TIAA-CREF and I've been able to download employer
>>>>> contributions into an account, but they always import as a buy
>>>>> transaction. I just change them to add transactions and press on.
>>>>>
>>>> How do you download from TIAA? I've looked on the website, but
>>>> can't find how to. Apparently poor eyesight <grin>.
>>>>
>>> After you log onto TIAA-CREF click on the "Manage My Portfolio" tab
>>> then scroll down to the bottom of the page. In the left column is
>>> "Download Account Data to Quicken."
>>>
>>
>> <sheepishly>
>> I found the download for my accounts. However, TIAA-CREF has a
>> different view of how this should/could be done than I do. Even if I
>> get a download into the proper account, it messes up previous
>> entries, adds all kinds of placeholders, and generally confuses me to
>> oblivion.
>>
>> I may eventually just set up a new Quicken file for TIAA-Cref and
>> download into accounts there, so I can really see what should be in
>> each account. For now, I will keep track of recent transactions at
>> the website and punch them into my main file as appropriate.
>>
>> Good thing I do a backup after each of my sessions with Quicken so I
>> could go back to earlier this morning and erase all the downloaded
>> nonsense ... </sheepishly>
>>
> Sorry :-( I should have warned you about downloads from TIAA-CREF. I
> thought about what might happen right after I pressed the send button.
> I think most people would agree that just typing in the transactions
> is easier, and much safer. TIAA-CREF is a great organization, but
> they have a ways to go with their web downloads. Glad you had a
> backup. I too had to do a restore from backups after trying a
> Corporate Acquisition to account for a mutual fund merger from
> TIAA-CREF. If it wasn't for the money, I'd move everything to
> Vanguard or USAA, both do an excellent job with Quicken downloads. :-)
>
I think that in the end returns is what counts, and the CREF stock fund
has been good <grin>.

--
Best regards
Han
email address is invalid

Posted by John Pollard on May 6, 2007, 9:57 am
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fj wrote:
> Using Quicken XG 2006.
> I have recently changed jobs and need advise on how to
> set up my paycheck and track employer paid benefits.
> There are 3 separate accounts which the company has set
> up for these benefits to go into. A. direct trading
> account- into which goes: 1. an after tax deduction from my
> paycheck(savings plan)- buys mutual funds of my choosing
> 2. an employer paid benefit- buys shares of
> the company B. RSP account- into which goes a before
> tax deduction into my RSP-buys mutual funds
> C. RPP account- into which goes a wholely employer
> paid benefit-buys mutual funds
> I have set up three different accounts for this money to
> go into. I've set up the paycheck for my basic
> deductions, but can't seem to set up all of these
> transactions from within the paycheck. It looks like I
> can only set up the RSP deduction(B) and the after tax
> savings plan(A-1) within the paycheck. I believe I will
> have to manually enter the employer paid benefit(A-2) and
> employer paid RPP benefit (C). I've tried setting up A-2
> from within the paycheck, but quicken sometimes confuses
> which accounts the money should go in and screws up the
> transaction.

I don't know enough about XG or Canadian account types to be of
much specific help.

But you are not required to use the Quicken Paycheck Wizard to
setup your paycheck, in most cases, the old tried-and-true split
transaction will do the trick.

Enter a transaction generated from the Paycheck Wizard form into
a Quicken account, then run a Banking > Transaction report with
splits displayed which includes that paycheck transaction, and
see how the Paycheck Wizard sets up a Paycheck. Note the
difference in handling of pre-tax and post-tax deductions, etc.
Using that model, you should be able to expand on it and create
your own Scheduled Transaction for your paycheck without using
the wizard.

Alternatively, you can setup more than one "paycheck" for the
same deposit transaction, using the Paycheck Wizard; sometimes
that will get you past a Paycheck Wizard limitation. The only
drawback I know of is that you will have to do a Manual Match if
you download, to match a single downloaded paycheck transaction
to two, or more, Quicken paycheck transactions.

--
John Pollard
First initial underscore Last name at mchsi dot com
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