[Kmymoney] 401k

[Jack]

We generally try to bottom post on this list.  It keeps the flow of  
discussion easier to follow when referring to old topics.

On 2013.03.07 12:55, Joseph Quisgard wrote:
> OK, I have an investment account named 401k.
> I have a checking account named brokerage with asset as a parent  
> account.
> It looks like I had that part right, It seems my issue was adding  
> transactions.
> Let's say, I get cash from my pay, I have it so that money goes into  
> the brokerage(checking) account.
> I then need to buy shares with the money from the brokerage account  
> that will be added to the 401k(investment) account. I think this is  
> where things get messed up.
> Thanks for the help by the way, I have been working on getting this  
> straightened out for months
> On 03/07/2013 12:15 PM, Jack wrote:
>> On 2013.03.07 11:44, Joseph Quisgard wrote:
>>> Does anyone have an accurate way of setting up a 401k account in  
>>> KMY. I have not been able to figure out a decent way of keeping  
>>> track of this.
>> 
>> I didn't actually track my own 401k until I rolled it over into an  
>> IRA, but I don't really see any difference.  Just use an Investment  
>> account, with an associated Brokerage (checking) account.  The  
>> investments all go as securities in the investment account and all  
>> cash transactions go in the brokerage account. The main issue I've  
>> found is that you can't do OFX imports, since most brokerage firms  
>> do not distinguish the investment and cash portions as KMM does, so  
>> they lump all transactions.  I know one of the developers has been  
>> working to get the csv importer to handle this, but I'm not really  
>> sure how far along he is, even though I should.  The other option is  
>> to do the import, but know that some of the transactions will have  
>> to be moved to the other account.
>> 
>> Minor issues:  most securities (stocks, bonds, mutual funds) map  
>> easily to KMM securities, and you can automatically fetch prices  
>> from one of the several available sources for that data.  I've had a  
>> small number of investments where that didn't work, so I have to  
>> manually do price updates or value adjustments.
>> 
>> This should be enough to get started - let us  know if you have any  
>> specific questions or problems.
>> 
>> Jack

So it seems to started out correctly.  One Investment account,  on  
Brokerage account.  Contribution to 401K goes as cash to brokerage  
account.  To buy stock, you have to go to the investment account and  
enter a "buy" transaction.  Once you create the security, and enter the  
number of shares, price per share, and any fees, you specify the  
brokerage account as the place the money comes from to make the  
purchase.  It is confusing until you get used to it - then it makes  
sense.  Any transaction involving a security (stock, mutual fund, ...)  
is made in the investment account.  If that transaction involves money  
(to purchase the security, proceeds from sales, dividends, ..., you  
specify the brokerage account for the cash transfer.  You will see the  
deposit or withdrawal of that cash as a transaction in the brokerage  
account, but the only transactions you actually create in the brokerage  
account are transfers of funds to/from other accounts - incoming pay,  
purchases, checks, transfer to another checking account, ....

If you have any specific comments on how the manual could make this  
more clear, please let me know.

Jack