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Entering an Existing 401k in Quicken

Good morning,I have a long standing question - that I am hoping I can find an answer to here!Is there a simple way for me to enter my current state 401k in Quicken?Seriously - it was an impossible task in Quicken 2005.  Spent days entering securities, price bought, number of shares, and adding cash input on a weekly basis.  Was an impossible task to balance. (I had a theory on this, but have forgotten it). Anyway, I recently upgraded to Quicken 2008 and decided to start over again on entering my 401k plan (as my best efforts in Quicken 2005 have left me with a 20% discrepency). I have backed up my quicken file and deleted my old 401k account.  So here is my question: Is there a sure fire way for me to enter the securities, shares, and price for each of my 401k holdings as they are today, record the cash in from by future weekly paychecks (I have set up my paycheck in Quicken), and then balance transactions quarterly?   Seems like a straightforward task - but never seems to work right!It would be great if anyone could provide me with a set of tested steps or a link to a tutorial (something besides what's in the Quicken help files!)  thanks,Chris
    Just a quick update..  I bit the bullet and re-entered my 401k.I entered in each security 3 times:  (1 time for my culmalitve balance for my current company,  1 time for employer match,  and 1 for rollover). My 401k is with Nationwide.  Their breakdown is by units.  So for each entry I entered units rather than shares and price per unit, arriving at my total.  Much like when I attempted this in 2005, here are the results:- My current total is off by 3%.  Which is odd.  I entered each transaction as Bought, which got me my total amount.  Then I made a phantom cash deposit to try to balance (who cares about proper accounting at this point).  Rather than balancing out, this caused the value of my securities to erode by 2%.- Used Quicken Service to lookup 3 symbols.  Succesful on two, the third Quicken found the correct symbol, but in downloading it made up it's own security.Anyway, so I can live with the above (I'll figure out the security issue).  As I mentioned in my earlier post, my goal was to get my total 401k value correct, and then day-forward track investments.  From past experience, this will not work.  I predict that my cash in from a biweekly paycheck will work.  Then when I try to match up transactions from Nationwide - it will not.  Soon, my 401k balance will be off by giant amounts.I suspect the issue has to do with me recording unit price rather than share. When Quick checks the share price it won't match my unit price and it'll adjust my totals.  Anyway, that's my theory. Thanks again for any help you can provide! - Chris
      I suspect the issue has to do with me recording unit price rather than share. When Quick checks the share price it won't match my unit price and it'll adjust my totals. Anyway, that's my theory. Your suspicions are correct on this - "unit price" and share price" are not the same - nor are units and shares the same. Use of units for retirement accounts seems to be quite common and the only souce of correct pricing is the issuing FI.Bottom line is don't try to use the publicly traded ticker symbol(s) for these holdings._
        Chris.I assume you setting up your 401K account based on your last 401K statement.>>First, you should create the securities in Quicken that you own in your 401K.If any of the securities are "Private" securities  (Units) then you don't want Quicken to look them up or download them. Quicken can only properly handle publicly traded securities. Therefore, you should un-check boxes such as Include this security on my Watch list, use Add Manually, etc.The symbols used by "private" securities are often the same as other stocks and mutual funds traded publicly. So Quicken may download quote information that is totally wrong and screw up your numbers.Second create a Quicken 401K Investment account.Third, use "Add-Shares Added" transactions to enter the total number of shares per security you own along with the average cost - one entry per security.Fourth, enter any cash shown on the 401K statement using a "Deposit" transaction.The account balance should exactly match your statement balance at this point.>>When you set up your Quicken Paycheck transaction, create the proper entry for your 401K deduction in the proper area of the Paycheck transaction form, i.e.,, Pre-Tax or After Tax.Use a transfer category to transfer the 401K deduction to the 401K account, i.e., [Nationwide401K].When contribution amount is transferred, it will go into the cash balance of the account.You could also set up a scheduled deposit transaction for your employer contributions with a deposit to your 401K account.Or you could enter them yourself from your statements with a Deposit transaction in the 401K register.>>When you get your monthly or quarterly statement, you will then enter the transactions as they appear on the statement.Hopes this helps.Post back for more detail on any portion of the above.
          Thanks for the pointers!I'll definitely try your advice out (possibly as soon as tomorrow) and reply back...
            Thanks again for the advice..But, I am going to give up on this task..  Will either track my 401k directly on the web or try another finance progam.Wasted another 2-3 hours of my life fighting with Quicken on this.. Can't believe it is this difficult to enter accurate investment transactions in Quicken.
              i But, I am going to give up on this task.. Will either track my 401k directly on the web or try another finance program.That is certainly your prerogative.>>It is not an insurmountable task especially if you approach it one step at time and ask questions.Good Luck!
                I have done this and it tracks fine, perfect share balance, perfect cash balance ... but I am "altering" Quicken's interpretation of "cash invested" and "cost basis" which aren't the same thing._ It probably took a couple of hours to do this (and days of experimentation to figure out what to do)._ So, if you want to, I can spell it out for you._ This is strictly up to you.
                  Thanks Dave and Denis...I'm going to cut my losses here.  I have entered the 7 mutual funds in my 401k on a cost bases (no shares) and not added these mutual funds to my watch list. My plan then is to reenter my holdings quarterly in Quicken and add these funds to a watch list on a sep. online brokerage account.  Thanks again for the advice.
                    Hi Dave,I have a related question (sorry it's a bit long):  I have been tracking my 401(k) (kept with NYLIM) in Quicken for a while now, and it seems to update everything fine (shares, NAV, etc.) Unfortunately, I'm having trouble "matching" what I download from the NYLIM website with the 401(k) information that populates from my paycheck setup.  For my paycheck, I have it set up so that each pay period (biweekly) I have a pretax deduction that transfers to my NYLIM 401(k) account in Quicken.  There is also an employer match set up to transfer to the same account.  This results in 2 increases in the correct amount of cash in the 401(k) Quicken account (1 for my pretax contribution and 1 for the employer match).When I download data from the NYLIM website, all of the share purchase transactions download flawlessly.  Unfortunately, it also downloads "Deposit" transactions equal to the total of the pretax and employer contributions, but divided up into more pieces: one pretax piece and one employer piece for each fund in the 401k.This means that I can't match the downloaded transactions to the transactions populated from my paycheck information, because I have 2 entries which populate from the paycheck, and 6 entries (2 contribution sources * 2 funds) from the NYLIM website.  In the end, I wind up with twice the cash entries I need, but the correct cash entries.My solution so far has been to manually delete the cash transactions that come from the paycheck, but what I'd like is for Quicken to recognize these as the same transaction as the deposit transactions, and match them together automatically.  If you or anyone else out there knows of a way to arrange this (or another simple solution) I'd very much appreciate it!
                      That is not the solution I would choose._ Instead, I would delete the 4 (?) downloaded transactions after assuring myself that the totals were correct._ The transactions from your paycheck contain the right categories for Quicken to track and separate your contributions and your employers contributions._ I doubt that your downloaded transactions associate the same way._ Deleting the Quicken Payroll Form version of the transaction also has the risk, as I see it, or throwing off the payroll transactions._ What future problems that would create, I would not dare to predict._ Maybe none._ Maybe a lot._ Another possibility is that you may be able to restructure your payroll form (or enter it as a split transaction rather than a payroll form) such that four_deductions are made rather than the current two._ I realize that the form typically only provides for one 401k deduction, but I believe you can add others through the Other deductions area._ I think this approach would be more work than value gained._ HTH
                        I have no idea why your fi is sending all those deposits_ I can't think of any use for them.  And they never really occurred.  My first choice would be to petition the fi to download two deposits per paycheck, one for the employee, and one for the employer contributions.I'm not sure how you could delete the transfers from your paycheck without screwing up the paycheck transactions, I would definitely not consider this approach.Quicken has no way to match multiple downloaded transactions to one register transactions, so your only other choice should be to delete the downloaded "deposit" transactions.[Matching a downloaded transaction to a register transaction does have some possible benefits, though I'm not sure to what extent they apply in Quicken investment accounts. One benefit which does work in investment accounts is that once a transaction has been marked as "downloaded" (which Accepting a "match" transaction will do), that register transaction will never be eligible for any subsequent "match" ... which is good.I believe that you could "manual match" one downloladed transaction to your paycheck employee contribution transfer and another downloaded transaction to your employer contribution transfer, and remove those two register transactions from further consideration as "match" canadidates.  (Then delete the other downloaded "deposit" transactions.)It is not necessary that the amount of the downloaded transaction equal the amount of the register transaction in order to manual match them.]
                          Thanks for the help.  I misspoke: actually what I have been doing (which sort of works) is deleting the extraneous "deposit" transactions from NYLIM.  Deleting the register entries from the paycheck would definitely screw up the paycheck.  I'll try your suggestion of getting the FI to not include the "Deposit" transactions.  Thanks!
                            Dennis,  I've been tracking my 401k account in Quicken for a couple years. I have both mutual funds (small caps & international) & cash in it. Two months ago, I decided to contribute to my 457b by investing in the same mutual funds.  I'm sure my next quarterly statement will show both the 401k account mutual funds + cash and the NEW 457b mutual funds shares. My questions is: How do I keep track of the 457b shares in Quicken? It seems I would have to create a separate retirement account called "457b"??? so that the shares from the mutual funds in the 401k won't get mixed up w/ the shares in the 457b?, right?  Ahhhg - I'm confused.
                              Quote:" 401k & 457B in Quicken: Dennis,  I've been tracking my 401k account in Quicken for a couple years. I...">i My questions is: How do I keep track of the 457b shares in Quicken? It seems I would have to create a separate retirement account called "457b"??? so that the shares from the mutual funds in the 401k won't get mixed up w/ the shares in the 457b?, right? Ahhhg - I'm confused. i I would assume you have a separate account at the same Financial Institution for the 457b with a different account numberAs you already indicated, you should create a separate account for the 457b just as I assume you have done in the "real world".Since you have already created the securities in Quicken, then you will only have to enter the Cash used in the account then the appropriate Buy transactions based on the information provided to you by your FI.
                                Quote:" 401k & 457B in Quicken: My questions is: How do I keep track of the 457b shares in Quicken? It..."Wow - Thnx 4 responding so quickly Denis.Regarding the 457b mutual funds, I just checked my "real world" retirement account & I noticed both the 401K mutual funds shares + cash & the 457b mutual fund shares r in the same account.  A bit weird, eh?
                                  Quote:" 401k & 457B in Quicken - follow up: Wow - Thnx 4 responding so quickly Denis. Regarding the 457b mutual..."I've been tracking my 401(k)retirement account in Quicken for about 2 years. About 2 months ago, I opened a 457(b) account with the same people that manage my 401(k) account, Nationwide Retirement Solutions. In fact, both my 401(k)(which I'm keeping track of in Quicken) and my new 457(b) have the same two mutual funds (one a small caps & one international mutual fund).Every three months, I get a statement in the mail showing both my 401(k) mutual funds' shares & my 457(b) mutual funds' shares. Also, there is a Summary of ALL my holdings (both accounts)in the Quarterly statement.How should keep track of my recently-opened 457(b) mutual funds in Quicken? Should I or can I open a 457(b) account within the 401(k) account? I'm so confused... Please help!
                                    Quote:" 401k & 457B in Quicken Can anyone help?: I've been tracking my 401(k)retirement account in Quicken for about 2 years....">You can't create sub-accounts or accounts within accounts in Quicken. Therefore, I would create a new account in Quicken to track my new 457(b) account.You can always create Views and/or Reports that can show the holdings and/or performance of both accounts if you need to see that information.
                                      Why the 20% discrepancy? Need more info regarding your particular situation.  Are you entering transactions manually or are you downloading transactions info from your brokerage institution?  Lets talk _)
                                        Quote:" Entering an Existing 401k in Quicken: Why the 20% discrepancy? Need more info regarding your particular situation.  Are you..."I tried it all... Manully entered, downloaded.. (Put securities on my watch list, took them off).  I could enter it correctly, but would then skew, quickly over time. This is an issue I toyed with a number of times over about 4 years and put a decent amount of time in and even asked for help. Bizarrelly I was never able to make it work.  I did give up over the summer and began tracking my non-etrade investements in Etrade (if that makes sense). Of course, I was able to manually enter the investments there and have to periodically reenter and of course it works correctly.  Thanks for the response...  Gave me one last chance to vent!!  Am only using Quick to track ot

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