Type of 401K Account

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Subject Author Date Type of 401K Account JCO 01-24-2008  Re: Type of 401K Account JimH 01-24-2008  Re: Type of 401K Account Oilcan 01-24-2008  Re: Type of 401K Account JCO 01-24-2008  Re: Type of 401K Account JCO 01-24-2008  Re: Type of 401K Account Oilcan 01-24-2008
Posted by JCO on January 24, 2008, 2:23 pm Please log in for more thread options 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 Please log in for more thread options 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 Please log in for more thread options 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 Please log in for more thread options 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 Please log in for more thread options 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". >> >> > Similar Threads Posted How to change account type October 16, 2006, 8:34 pm QP2007: What Account Type for CD? November 4, 2006, 7:50 pm Change IRA to 401(K) account type December 21, 2006, 11:15 pm Change IRA to 401(K) account type December 21, 2006, 11:17 pm Superannuation - what type of account February 9, 2007, 8:45 pm Change Account Type in Quicken 2007 March 26, 2008, 7:15 am How do I create a 401k account? January 16, 2007, 12:29 am 401K Account Incorrectly Displays SoldX November 28, 2008, 2:44 pm What type of an error is this? February 16, 2007, 12:59 pm cc charges, wrong type, income June 13, 2006, 3:25 pm