Vanguard Downloads wrong information in Description

Ted's Avatar

Ted

16 Sep, 2018 12:32 AM

Is anyone else experiencing this with Vanguard accounts? I recently added a new account to MD for my 401k. I have 2 years of transactions, most of which downloaded automatically. However, the description and memo for every transaction reads "Price as of date based on closing price" instead of "ROTH CONTRIBUTION" or "EMPLOYER MATCH" as it reads on the statements. Is this something that can be addressed on Moneydance's end with how it's processing the downloaded information? I already have to manually change each action to BuyXfr and assign the correct category; I'd rather not have to change every description and memo as well.

By the way, in case it helps others, here's how I cleaned up the register so far: I have 3 buys every pay period: ROTH, EMPLOYER MATCH, and EMPLOYER NON-ELECTIVE. Because of the way our contract works, my 3 buys are in order smallest to largest (match, roth, non-elective). I ctrl-click each third transaction and batch change to "EMPLOYER MATCH." Then I edit the account to make the default category "Salary:Employer Match." I open the entry and change the "Buy" to "BuyXfr," which automatically changes the category. Rinse and repeat with the other buy types. In the end I wind up with my entries properly sorted, but it's going to be annoying to keep up with future entries. I'm not too worried because the company is switching to Fidelity in 2019. I'm hoping Fidelity's downloads are easier to manage.

  1. Support Staff 1 Posted by Tom Freeman on 18 Sep, 2018 10:44 PM

    Tom Freeman's Avatar

    You can right click the transaction and select show transaction details. This will create a pop-up box that lists the transaction details. You can see what Vanguard is putting in the description.

    If it is a direct connect download then your only option is to edit the transaction.

    If its a qfx download, you can open the qfx in a word app then find and replace to edit the description, then save in the original qfx format and import into MD

    Tom Freeman
    Infinite Kind Support

  2. 2 Posted by Ted on 18 Sep, 2018 11:54 PM

    Ted's Avatar

    Thanks for the reply. The bad info is in the direct connect transaction. I'll ask Vanguard if they're willing to look into it. If not, I'll keep editing for the rest of this year and hope Fidelity works better.

  3. Support Staff 3 Posted by Tom Freeman on 19 Sep, 2018 12:29 AM

    Tom Freeman's Avatar

    I want to confirm that you checked the description filed in the transaction details so we know if the issue is on vanguards side or whether MD is reading the transaction incorrectly.

    Tom Freeman
    Infinite Kind Support

  4. 4 Posted by Ted on 19 Sep, 2018 02:17 AM

    Ted's Avatar

    Yes, I can confirm the direct connect transaction details had the bad info, so this is on Vanguard's end. I'm going to contact them and see if they'll look into it.

  5. System closed this discussion on 19 Dec, 2018 02:20 AM.

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