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Subject Author Date
Type of 401K Account JCO 01-24-2008
Posted by JCO on January 24, 2008, 2:23 pm
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 Running Windows XP Pro
Quicken 2008 Home & Business

I created a new account to handle my wife's new 401K plan, that we were
forced to transfer in to at the beginning of the year (sound familiar). I
created the account and thought all was good until a few paychecks have
transferred in. The "Action" is "XIn instead of what I'm use to seeing...
"BoughtX". So I looked into this further since I really need the BoughtX as
the correct type. This will allow me to track the transfers with an
associated price per share.

So I tried to create another account and found that I have to tag the 401K
as a specific Mutual Fund (or stock). Now comes the confusion. To create
this, you must know the Ticker. This fund does not have a Ticker because it
not really a Mutual Fund but a Fund that keeps track of Units. Hope this
makes sense. So I'm caught in a "Catch 22". How do I get around this
Ticker issue so that I can create the account as a single Mutual Fund...
even though my fund is really not that type? If I can get around this
issue, I believe I can track each weeks transfer with the appropriate "Units
per Share".



Posted by JimH on January 24, 2008, 5:11 pm
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 JCO wrote:
> Running Windows XP Pro
> Quicken 2008 Home & Business
>
> I created a new account to handle my wife's new 401K plan, that we were
> forced to transfer in to at the beginning of the year (sound familiar). I
> created the account and thought all was good until a few paychecks have
> transferred in. The "Action" is "XIn instead of what I'm use to seeing...
> "BoughtX". So I looked into this further since I really need the BoughtX as
> the correct type. This will allow me to track the transfers with an
> associated price per share.
>
> So I tried to create another account and found that I have to tag the 401K
> as a specific Mutual Fund (or stock). Now comes the confusion. To create
> this, you must know the Ticker. This fund does not have a Ticker because it
> not really a Mutual Fund but a Fund that keeps track of Units. Hope this
> makes sense. So I'm caught in a "Catch 22". How do I get around this
> Ticker issue so that I can create the account as a single Mutual Fund...
> even though my fund is really not that type? If I can get around this
> issue, I believe I can track each weeks transfer with the appropriate "Units
> per Share".
>
>
I always have used a transfer in of cash from my paycheck into the 401K
account. Then follow that with a purchase of the fund or funds. It does
not require a ticker symbol, just a security to purchase. A 401K is not
normally a single mutual fund account. I guess it could be. I used
"Large Cap Stock Fund" as one of the securities. You would need to know
either the number of shares, or the price of a share to do the purchase.

I hope this helps...

---
Jim

Posted by Oilcan on January 24, 2008, 5:33 pm
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You do not need a ticker - just a name.

Transfer Cash in is correct. When you Buy, you just choose Buy and that
will reduce the amount of the Cash Balance. These are two transactions -
even though you might think of them as one.
> Running Windows XP Pro
> Quicken 2008 Home & Business
>
> I created a new account to handle my wife's new 401K plan, that we were
> forced to transfer in to at the beginning of the year (sound familiar). I
> created the account and thought all was good until a few paychecks have
> transferred in. The "Action" is "XIn instead of what I'm use to seeing...
> "BoughtX". So I looked into this further since I really need the BoughtX
> as the correct type. This will allow me to track the transfers with an
> associated price per share.
>
> So I tried to create another account and found that I have to tag the 401K
> as a specific Mutual Fund (or stock). Now comes the confusion. To create
> this, you must know the Ticker. This fund does not have a Ticker because
> it not really a Mutual Fund but a Fund that keeps track of Units. Hope
> this makes sense. So I'm caught in a "Catch 22". How do I get around
> this Ticker issue so that I can create the account as a single Mutual
> Fund... even though my fund is really not that type? If I can get around
> this issue, I believe I can track each weeks transfer with the appropriate
> "Units per Share".
>
>


Posted by JCO on January 24, 2008, 5:46 pm
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Ah that works. Now I can make each paycheck automatically create a
"BoughtX"
Thanks

> You do not need a ticker - just a name.
>
> Transfer Cash in is correct. When you Buy, you just choose Buy and that
> will reduce the amount of the Cash Balance. These are two transactions -
> even though you might think of them as one.
>> Running Windows XP Pro
>> Quicken 2008 Home & Business
>>
>> I created a new account to handle my wife's new 401K plan, that we were
>> forced to transfer in to at the beginning of the year (sound familiar).
>> I created the account and thought all was good until a few paychecks have
>> transferred in. The "Action" is "XIn instead of what I'm use to
>> seeing... "BoughtX". So I looked into this further since I really need
>> the BoughtX as the correct type. This will allow me to track the
>> transfers with an associated price per share.
>>
>> So I tried to create another account and found that I have to tag the
>> 401K as a specific Mutual Fund (or stock). Now comes the confusion. To
>> create this, you must know the Ticker. This fund does not have a Ticker
>> because it not really a Mutual Fund but a Fund that keeps track of Units.
>> Hope this makes sense. So I'm caught in a "Catch 22". How do I get
>> around this Ticker issue so that I can create the account as a single
>> Mutual Fund... even though my fund is really not that type? If I can get
>> around this issue, I believe I can track each weeks transfer with the
>> appropriate "Units per Share".
>>
>>
>



Posted by JCO on January 24, 2008, 5:54 pm
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Ooops
Now I have the fund created, with your help. But when I go to a previous
paycheck entry and change the account that my 401K money goes to, I get this
error message:

Cannot record transfer. You do not have a position in the destination
account.

What does this mean?

> You do not need a ticker - just a name.
>
> Transfer Cash in is correct. When you Buy, you just choose Buy and that
> will reduce the amount of the Cash Balance. These are two transactions -
> even though you might think of them as one.
>> Running Windows XP Pro
>> Quicken 2008 Home & Business
>>
>> I created a new account to handle my wife's new 401K plan, that we were
>> forced to transfer in to at the beginning of the year (sound familiar).
>> I created the account and thought all was good until a few paychecks have
>> transferred in. The "Action" is "XIn instead of what I'm use to
>> seeing... "BoughtX". So I looked into this further since I really need
>> the BoughtX as the correct type. This will allow me to track the
>> transfers with an associated price per share.
>>
>> So I tried to create another account and found that I have to tag the
>> 401K as a specific Mutual Fund (or stock). Now comes the confusion. To
>> create this, you must know the Ticker. This fund does not have a Ticker
>> because it not really a Mutual Fund but a Fund that keeps track of Units.
>> Hope this makes sense. So I'm caught in a "Catch 22". How do I get
>> around this Ticker issue so that I can create the account as a single
>> Mutual Fund... even though my fund is really not that type? If I can get
>> around this issue, I believe I can track each weeks transfer with the
>> appropriate "Units per Share".
>>
>>
>



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