Tracking investment value without securities

robert's Avatar

robert

22 Jul, 2016 07:14 PM

I've asked this question before with no answers, so I'll try to frame it differently.

My 401(k) has a LOT of funds in it. I want to update the overall balance of the account on a monthly basis without having to enter buy and dividend transactions for all the individual funds in the account. Is there a way to do this?

  1. 1 Posted by Tom Freeman on 22 Jul, 2016 08:27 PM

    Tom Freeman's Avatar

    Use an asset account. Create an income category called "gain/loss on 401". Each statement make a transaction to this category to adjust the value of the 401k.

    Tom Freeman
    Infinite Kind Support

  2. 2 Posted by robert on 22 Jul, 2016 08:50 PM

    robert's Avatar

    Thanks, that'll work for the current balance.

    How would I reflect the monthly payroll contributions from my employer (and myself) into the 401(k)?

  3. 3 Posted by Tom Freeman on 22 Jul, 2016 09:45 PM

    Tom Freeman's Avatar

    You could do a split transaction from your paycheck. Here is the FAQ for setting that up:

    http://help.infinitekind.com/kb/entering-transactions/how-do-i-enter-my-paycheck

    You can use the default income category "employer match" under the parent category salary or make your own category. You will also have to make an expense category for your 401k contribution.

    From the investemtn side when reconciling the downloaded transaction you would assign the transfer of funds to these categories. If manually entering the 401k transactions you would assign the transfer of funds into the investment account from these categories

    I have attached a screen shot to illustrate. In the image, pension is the investment account.
     .

    Tom Freeman
    Infinite Kind Support

  4. 4 Posted by dwg on 22 Jul, 2016 11:13 PM

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    A certain other program does have a way of handling this neatly :)

    I took a different approach since I wanted to have some performance type information available. The investment I have has many funds in it, >10 and the data you can download is unsuitable for importing without a hell of a lot of programming and even then it would be a bit hit and miss as it is not consistent, even prices for some of the funds would not be available as downloads from Yahoo as many of the funds are wholesale rather than retail funds.

    My initial investment I entered at a price of $1 per share and obviously the total amount was equivalent to the number of shares (units). each month I look up the current value of my investment. I have developed a spreadsheet that I plug this into and it gives me a price per share/unit which I then use with the security price entry extension to enter into Moneydance. In the spreadsheet I also have the ability to enter buy and sell transaction which give me the appropriate unit price & number of shares/units that I can then use in Moneydance buy & sell transactions.

    Yes it was a bit of work to set up the spreadsheet but the result is better in my view and given that Moneydance does not have the ability to handle this gracefully and effectively I think it was the best approach to take.

    What the other software does is that it takes add and remove transactions in unit investments (mutual funds) as being changes in value i.e. gains and losses, and buy and sell transactions as just that and as it understands this it can provide performance information.

  5. System closed this discussion on 21 Oct, 2016 11:20 PM.

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