Incorrect account setup

I've been reading google group archives and believe I am up a creek, but I
thought I'd check.
I've always manually updated my dollar cost averaging mutual funds. Now I'm
tired of doing it and want to download instead, but I realized I set up my
401k as "401k" instead of an "investment" account. Therefore, I can't
download. I was able to set up a new account that can automatically
download transactions, but it only brings down the last two years. I've been
entering manual transactions since 2001.
I am using Quicken 2006. Are my only options to manually re-enter them in a
new account, or copy them in? Is there any functionality in Quicken 2007
that might automate this mess?
Reply to
Joe
Is the ending balance of the new account correct? Assuming it is then just keep the detail in the old account through the date of the opening balance in the new account and delete the last 2 years of data. Do an adjustment in the old account equal to the opening balance in the new account. Show it as a transfer to the new account. Then run your reports on the 2 accounts together to get your whole history.
Reply to
Laura
This is normally what you *should* do.
With most real-world 401k accounts, you must have a Quicken 401k account to download. Your situation seems to be an exception to the norm.
Reply to
John Pollard
John:
A quirk with Charles Schwab is that solo 401(k)'s have to be downloaded as tax-deferred investment accounts.
Setting up a solo 401(k) as a 401(k) results in error messages.
Schwab knows about this, and hopefully, one day, they'll get around to correcting it.
Bob
This is normally what you *should* do.
With most real-world 401k accounts, you must have a Quicken 401k account to download. Your situation seems to be an exception to the norm.
Reply to
Bob Wang
Joe:
You can export your old transactions to a QIF file. Then import the QIF file using John Pollard's method:
formatting link
Good luck, Bob
Bob, You are correct, it is Schwab. Laura's idea sounds like a good idea. Thanks!
Reply to
Bob Wang
Bob, Thanks, I wasn't aware of the forums. It looks promising. It there are any other suggestions, let me know!
Reply to
Joe
I ran the script from the forms as Bob suggested and it worked great. The only issue I see is all the funds I "bought" (and they are not "boughtx") show up with N/A in the Cash Amount column. Any idea why ?
I only imported "transactions', nothing else. I didn't think anything else was needed.
Reply to
Joe
You have one or more placeholders (Adjust Share Balance) transactions in the account.
If you setup a new account and download to it, you usually don't get the option to Accept individual transactions, Quicken accepts them all automatically. Then Quicken seems to forget to ask you if you want it to "adjust" your share balances, it just enters placeholders automatically. (And your new account almost certainly would not have had correct share balances since most of its history was in a different account).
Look for transactions with an Action value of "Entry", those are placeholders. (If you don't see any, have Quicken display hidden investment account transactions (Edit > Preferences > Quicken Program > Investment transactions).
Since you are intending to have all the historical transaction in the account, you should probably just delete the placeholders.
You may find that you will want to redo the qif file import; once a transaction becomes linked to a placeholder, it will never affect the cash in the account ... even if you delete the placeholder.
So delete the placeholders before importing transactions from the other account.
Reply to
John Pollard
All my transactions are one of the following XIn Bought Div Reinvdiv ReinvLg ReinvSh
Would any of these be the cause of the error?
If it helps, my biggest manual touchup is going to be the way I accounted for 401. I entered it in my paycheck I received every two weeks, and in the paycheck (in my checking account) I was doing transfers (XIn) to my 401k. Not sure if this is what you consider a placeholder.
Reply to
Joe
John, I figured it out, you were referring to the new account. I was able to fix!
Reply to
Joe

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