Downloading from Scottrade

I recently transfered a 401k plan from a previous employer to a Scottrade traditional direct rollover account. I added the account into Quicken (2004 Premier Home & Business) and tried downloading. The cash balance is not transfering into Quicken. I have not made any stock or mutual funds purchases in Scottrade as of yet. Could I be adding this account incorrectly into quicken? If I add it as a retirement account It doesn't give me the option to create a cash account.

If I add it as a standard brokerage account it gives me the option to create a cash account but it still doesn't update the cash balance from the download....can anyone help?...tia...Fred

Reply to
fred
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What type of 401(k) do you have? Does it permit trade in individual stocks/bonds? My experience with 401(k)s (which I've had no difficulty in creating) is that it is specified in Quicken as a 401(k)-type account. Every month a specific amount of money is transferred from your payroll into this account and within a day or so the account manager makes pre-determined purchases of selected funds (and perhaps stock of the sponsoring company).

Quicken handles these accounts just fine. Your payroll deduction (and your employer's contribution) goes into the account to create a cash balance, the fund manager never transmits cash balances, instead they send buy/sell transactions to show new purchases using the money and perhaps any changes in investment eletions you may have made.

The account never has a linked cash account, those temporary cash balances is carried in the cash balance of the account.

Reply to
Mike B

On Thu 16 Jun 2005 09:37:00a, fred wrote in news: snipped-for-privacy@wideopenwest.com:

Scottrade segregates many of your transactions into their "financial" category, including dividends, deposits, withdrawals, etc. These are go into a neverland and are never downloaded into Quicken from Scottrade, by design. They must be entered by you manually! They only recently started supporting Quicken (a year ago?), maybe they will get their act together some day.

You will discover other quirks there as well: eg. no reinvestments, open orders decrease your buying power if you have a margin account, options, poor execution (they are not a member of a stock exchange) and depending on which trading platform you use, some flakey numbers here and there, cannot specify specific lots on a sale.

One day ALL of their branch office links were down to their main computer. The branch offices decided to transfer all of their calls to HQ since they had no control over the problem, but HQ could not handle the call volume, hence calls were not even answered for most of the day company wide. They are NOT available afterhours; they give the run around and ignore you on their refer-a-friend free trade offers.

Otherwise they are pretty good.

Reply to
Mike L

Thanks...I called Scottrade tech support and they basicly told me the same thing...

Reply to
fred

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