#Quicken deluxe 2016 401k reconcile how to
Even though I took "Home Economics" in school - we were all required to learn how to balance a checkbook - it never made sense to me why I should have to reconcile how much I THINK I have with how much the Bank knows I have. I used QuickBooks under DOS, and ComputerServe Finance under OS/2. I've always avoided checks, preferring to do as much as I can electronically. (This is one of several reasons I enter transactions manually.I've been banking online as long as I've been online. It may be inappropriate and may (as with your downloading) make the work harder. I must ask, though, do you have so many transactions each month that downloading data is de rigeuer? Just because a tool (data download) is in the toolbox doesn't mean it has to be used. There's nothing you can do about that and I'm sorry for you. What you describe WRT all those separate downloads/accounts for mutual funds is actually a custodian that collects fees and mails reports without providing a value added service. It'd be a bitch to reconcile the broker's statement to the Quicken record if the two weren't structured alike. To do otherwise generates a lot of unnecessary work. One real account = one Quicken account isn't merely preference, it's simple sanity.
#Quicken deluxe 2016 401k reconcile software
The management company's software insists that if we want to download transactions into Quicken, we must have a separate single-security account for each different mutual fund. I strongly prefer one account in real life to also be one account in Quicken. proofreading every single transaction because I keep Quicken on a short leash. QIF, open my working file, set up the account there and import the. OTOH if I had entered every transaction in the test file I'd export it to a. I do things in a separate file for learning about the tool and the pitfalls and to avoid giving Quicken another opportunity to scrozzle things (voice of experience on both counts) and leave me retreating to a backup. If it works after half a dozen transactions there's no need to "prove" it further. How do you feel about trying to combine this file back with the original file? Would you import it or merge the two files or will Quicken botch the job? Or would it be best to just bite the bullet and manually set up the 401(k) a second time in their original file by hand, duplicating the test file?įirst and foremost, the point of creating a new file is to test a concept. They get all their transactions entered and are satified with the results. Let's say sac1971 (or anyone for that matter) follows your advice and sets up their 401(k) in a new file. What benefit is there in assigning a unique category to each fund? If you want to assign funds to large growth, midcap value, small cap blend, muni bond, et al. Make each security a separate category? Each fund is already distinct from each other fund by name alone. The Roth IRA should be a Roth IRA-type account in your one Quicken personal finance file. One account = one file? That'll defeat the primary benefit of using Quicken: seeing the big picture. Within that file, I would set up categories in the names of each of the Mutual Funds, then set up subcategories or classes to track dividends, etc.
If the Roth is with one broker, I would open only one Roth file.