[Kmymoney] 401k

[Joseph Quisgard]

On 03/07/2013 01:27 PM, Jack wrote:
> 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
> _______________________________________________
> KMyMoney mailing list
> KMyMoney at kde.org
> https://mail.kde.org/mailman/listinfo/kmymoney
My apologies, I didn't even realize I replied above the quote.
What you said makes sense. I was trying to use the manual to set this up 
and for some reason I just couldn’t get it to behave as expected, 
meaning the money and the shares purchased were not quite adding up..
I'll give this a go and re-read the manual entry on the subject. If I 
see anything amiss I'll let you know.
Thanks again for the help