401 K account (mutual fund)

cdsandler's Avatar


28 Sep, 2016 08:04 PM

Fidelity charges a fee every quarter, which I use the action "SellXfer/Shares Out." As per an answer in the public questions, I have categorized this as Investment Fee. When the account downloads, it inputs the name of the fund, which I need to then change to Investment Fee. Problem is that I cannot seem to batch change this - I can only change them one by one. Is there a solution to this? In the attached screen shot, the top transaction gives me what I need (i.e. shows up in expenses as a investment fee). The second one does not, and I would like to change those type transactions in a batch.

  1. 1 Posted by Tom Freeman on 03 Oct, 2016 08:26 PM

    Tom Freeman's Avatar

    There are two things happening in this transaction. The first is that Fidelity is selling some securities. Then they use the proceeds of that sale to fund its fee. The most important part of this is to make sure the transaction does not unduly affect the cost basis.

    The sell xfer is for when you sell securities and move the proceeds to another account.

    The best method for this is to create an expense category,something like "fidelity 401k quarterly fee". Now in the investment register make a the sell action, this will create the necessary fund to pat the fee. In the Banking register of the investment account make a transaction to the fee category for the fee. This adjusts the cash holding in both registers to reflect the paymetn of the fee. You can make a miscfee transaction from the investment register if you have a money-market security to assign it to.

    In using seperate transactions in this way you are not having ther cost basis of the security sold affected by the fee

    Tom Freeman
    Infinite Kind Support

  2. System closed this discussion on 02 Jan, 2017 08:30 PM.

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