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Old 12-05-2003, 01:41 AM
Cal Learner-- MVP
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Default Re: Conversion of Quicken 401K acct losses

In microsoft.public.money, JMJMJM wrote:

- quote -

> For 401K securities with fixed $1.00/share securities,
> Quicken 2000 allows negative interest values for the
> purpose of recording a loss in the security. When these
> transactions are imported into Money 2004, Money records
> the negative interest values with their absolute values
> (positive interest). This leads to incorrect data
> (balances, returns, etc.) for the account. Does anyone
> know how to correct this? Is there an automatec way to
> import such accounts without error? If not, how does
> Money handle such losses in a 401K account? (Note that I
> tried to simply add the negative sign in the Money file,
> but Money does not allow negative interest values.)


I think Money does a Remove Shares.
- quote -

> I'd appreciate any help on this issue. I assume that
> this is a common issue for people converting from Quicken
> since it is very common for 401K's to have the $1/share
> restriction and the negative interest entries were
> created by Quicken's automated 401K update feature. Is
> there a knowledge base article? I couldn't find one.


  #-1  
Old 12-03-2003, 10:51 PM
JMJMJM
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Posts: n/a
Default Conversion of Quicken 401K acct losses

For 401K securities with fixed $1.00/share securities,
Quicken 2000 allows negative interest values for the
purpose of recording a loss in the security. When these
transactions are imported into Money 2004, Money records
the negative interest values with their absolute values
(positive interest). This leads to incorrect data
(balances, returns, etc.) for the account. Does anyone
know how to correct this? Is there an automatec way to
import such accounts without error? If not, how does
Money handle such losses in a 401K account? (Note that I
tried to simply add the negative sign in the Money file,
but Money does not allow negative interest values.)

I'd appreciate any help on this issue. I assume that
this is a common issue for people converting from Quicken
since it is very common for 401K's to have the $1/share
restriction and the negative interest entries were
created by Quicken's automated 401K update feature. Is
there a knowledge base article? I couldn't find one.


 

Tags
401k, acct, conversion, losses, quicken
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