401k entry issues

I searched deja but haven't been able to find anyone else with the same problem, although I'm sure it has come up. It is in regards to how my

401k is appearing in Quicken.

I post my paycheck to my checking account in quicken. I show the gross, taxes, 401k, etc then have a net posting with the dollar amount. I have a line item that records to _401Contrib with a negative amount. I did this to show money was taken out of my check and went to my 401k.

Every quarter, I get my 401k statement from my company. I click on "update

401k holdings", and enter the money I put in, and the amount my company matches. Quicken registers the money I put into the 401 account as "Xin", and registers the amount my company matches as misc. income.

The problem I am having is when I look at Income/Expense over the period of a month (or year), the amount of 401k money I put in (not the company match) shows up as a negative amount under income.

If I were to delete the "Xin" entry and replace it with a "Miscinc" for my contribution within the 401k account, then I would it balance to "0", instead of it being negative.

I am using Quicken 2008, but it appears the problem also occurred while using Quicken 2006. Is there a "correct" way to do this? Since my

401k shows up as negative since it only records the amount taken out of my check, and not the amount I put in from the 401k statement, it appears I am making far less than I actually am.

"Joe" wrote in news:IK02j.77399$Um6.63019 @newssvr12.news.prodigy.net:

I enter my employer's contributions as "Add" shares. In my case, this is shares of CREF stock fund, and I enter them manually as of the date TIAA/CREF tells me.

Pre-tax contributions were transferred to a holding account (according to Quicken, an "asset" account) on the date of my paycheck, then transferred to the retirement account when "they" finally invested the money, as a "BoughtX" transfer as of the date and price per share of that investment.

I think that something like this is reflecting what happens in the real world. Most often the money deducted from one's paycheck is hanging around either at your employer's or at the riteriment investment company before it is invested. The scheme above "parks" the money in an asset account while it is out of your hands, while others have use of it and before it is invested in your account.

I don't like seeing it as a negative amount, it makes it appear as if I make far less. Instead of recording it as a _401Contrib, couldn't I just transfer it to a

401k account. What harm would there be recording it that way?

I've already redone so many things I want to make this right the next time I try it!

Apparently you didn't use the Quicken Paycheck Wizard to setup your paycheck. If you do use the wizard, it will show your 401k contribution as a transfer to your Quicken 401k account.

Well not when I was working, Fidelity would reflect the transfers from my paycheck the day of the transfer (payday). This included my contributions and my employers match. I tried to setup Quicken to track these transactions but found it to be much easier to let the transaction occur and then down load the updated account info, much easier and less "messy" then having Quicken transfer from my paycheck to Quicken Fidelity 401k account and then matching these actions after the download.

Marty

Marty K wrote in news:YZH2j.14214$281.4055@trndny06:

Maybe Cornell wasn't sending my money to Vanguard right away.