How to handle 401k Account?

#1 11-07-2004, 06:06 AM

Thank you very much - I will try that out. I found several topics on here
that related to my issue but none seemed to answer them. It sounds like this
will do it.

SOrry to everyone for accidently double posting - I would attempt a post and
it would give me an error, so I tried again with the same error. Then I
check back later and see my posts.

"Dick Watson" wrote:

- quote -

> The basic drill is:
> Transfer the money to be invested into the Investment Account Cash Account
> from your paychecks as you have been doing. This is a good thing.
> Invest this money into investments according to your allocation with buy
> transactions that take cash out of the cash account and convert it into
> shares in the investment portion of the investment account.
> You should match/convert the downloaded transactions that buy shares into
> these transactions that buy shares with cash from the cash portion of the
> investment account.
> I keep meaning to finish my 401k tutorial page. Other things keep coming up.
> 401ks are treated in several Q/A in an unofficial FAQ located at
> http://umpmfaq.info.
> "BrightGuy" <BrightGuy[at]discussions.microsoft.com> wrote in message
> news:0F653605-4B13-45EA-85C6-D94872B180CD[at]microsoft.com...
> > I have a 401k account. Each paycheck has an automatic deduction, a lump
> > sum
> > that is taken out and put into my 401k account.
> > > Each time I record my paycheck in Money, I use the itemized deduction form
> > that shows Before and After Tax Deductions. I record the 401k deduction
> > as a
> > Before Tax Deduction - it is listed as a Transfer to Janney Montgomery
> > Scott
> > (my broker). I had set up JMS as a 401k account in money.
> > > Here's the problem: in reality, JMS divides that lump sum into several
> > investment transactions and I don't know how to handle it. I have been
> > going
> > to the website of my investments and downloading the transactions into
> > Money
> > (QIF). But I think I am creating more problems for my account because I
> > put
> > money into the investment when I do my paycheck entry, then again I put
> > that
> > same money in when I download transactions.
> > > Help.... please. I can't figure out how to handle this.

11-07-2004, 03:46 AM

The basic drill is:

Transfer the money to be invested into the Investment Account Cash Account
from your paychecks as you have been doing. This is a good thing.

Invest this money into investments according to your allocation with buy
transactions that take cash out of the cash account and convert it into
shares in the investment portion of the investment account.

You should match/convert the downloaded transactions that buy shares into
these transactions that buy shares with cash from the cash portion of the
investment account.

I keep meaning to finish my 401k tutorial page. Other things keep coming up.
401ks are treated in several Q/A in an unofficial FAQ located at
http://umpmfaq.info.

"BrightGuy" <BrightGuy[at]discussions.microsoft.com> wrote in message
news:0F653605-4B13-45EA-85C6-D94872B180CD[at]microsoft.com...
- quote -

> I have a 401k account. Each paycheck has an automatic deduction, a lump
> sum
> that is taken out and put into my 401k account.
> Each time I record my paycheck in Money, I use the itemized deduction form
> that shows Before and After Tax Deductions. I record the 401k deduction
> as a
> Before Tax Deduction - it is listed as a Transfer to Janney Montgomery
> Scott
> (my broker). I had set up JMS as a 401k account in money.
> Here's the problem: in reality, JMS divides that lump sum into several
> investment transactions and I don't know how to handle it. I have been
> going
> to the website of my investments and downloading the transactions into
> Money
> (QIF). But I think I am creating more problems for my account because I
> put
> money into the investment when I do my paycheck entry, then again I put
> that
> same money in when I download transactions.
> Help.... please. I can't figure out how to handle this.

#-1 11-07-2004, 03:32 AM

I have a 401k account. Each paycheck has an automatic deduction, a lump sum
that is taken out and put into my 401k account.

Each time I record my paycheck in Money, I use the itemized deduction form
that shows Before and After Tax Deductions. I record the 401k deduction as a
Before Tax Deduction - it is listed as a Transfer to Janney Montgomery Scott
(my broker). I had set up JMS as a 401k account in money.

Here's the problem: in reality, JMS divides that lump sum into several
investment transactions and I don't know how to handle it. I have been going
to the website of my investments and downloading the transactions into Money
(QIF). But I think I am creating more problems for my account because I put
money into the investment when I do my paycheck entry, then again I put that
same money in when I download transactions.

Help.... please. I can't figure out how to handle this.

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