Quicken questions

[RetiredAndLovingIt]

It's the first of the month so time to update my bank/credit union accounts. I have 2 annoying little issues and wonder if anyone else has ran into them and knows of a solution.
#1. I can't update my IRA CD accounts with Navy via Quicken. No problem with my regular CD accounts. When I tried to set them up originally, Quicken connects to Navy so I can pair the accounts but the IRA accounts are greyed out and say "not supported". IIRC, I get a Quicken message that seems to want me to set them up as Brokerage accounts which they are not. I end up having to log onto Navy and looking up the monthly interest on each IRA CD and manually entering it into my account. Very annoying and never had a problem with any other institution. I did call Navy and they seemed to think Quicken was the problem. I have not called Quicken, that's always a nightmare but I suppose if I can't figure it out, I will have to.
#2. Is there anyway to automatically download my account statements into Quicken when available. I normally log into my institutions and print them off, seems there should be an easier way.
Thanks

 

[SevenUp]

IIRC, I get a Quicken message that seems to want me to set them up as Brokerage accounts which they are not.

A rose by any other name...: do you get correct numbers if you do set them up as brokerage accounts?

#2. Is there anyway to automatically download my account statements into Quicken when available. I normally log into my institutions and print them off, seems there should be an easier way.
Thanks

Not sure what you desire here. Is either
How do I attach a check, receipt, or other image to a transaction?, or
PDF to Quicken - How to Convert
helpful?

 

[pb4uski]

I'm interested in responses because I have the same issues with NFCU... I have to update our IRA CDs manually because they are not supported.

The other annoying thing about NFCU is that even for the non-IRA accounts to update transactions I have to go through 2FA and input a code which is annoying.. since we have his and her accounts I have to do 2FA twice.

I don't understand question #2... I download transactions but not account statements. Please elaborate.

 

[RetiredAndLovingIt]

#1. No, I try to keep it simple, all my CD's both savings and IRA's are set up as savings accounts. Quicken downloads the interest into them each month (except the ones in question at Navy Federal). I looked into setting the problem ones up as Brokerage and it seemed pretty complicated as per this link so I won't be doing that.
https://community.quicken.com/discussion/7862527/how-to-enter-and-track-a-cd-certificate-of-deposit
#2. I just wondered if monthly statements could automatically download into quicken for reconciliation but I just realized that I don't really need that piece of paper, I can reconcile to my online balance so this is really dumb question. My apologies.

 

[RockyMtn]

I had the same problem earlier this month with a couple of my accounts. What I finally had to do was go to "Accounts" click on the affected account, then click on online services.

I would first try "reset account" and see what happens. If that doesn't work try "Deactivate Account" and then re-add the account.

My IRA's are all in the "Retirement" section, Brokerages in the "Investment" section and everything else in "Spending" or "Other".

Quicken can be very very fickle. Sometimes just restoring a backup will solve on line issues. Just keep trying different approaches and sooner or later something works.

 

[RetiredAndLovingIt]

I'm interested in responses because I have the same issues with NFCU... I have to update our IRA CDs manually because they are not supported.

The other annoying thing about NFCU is that even for the non-IRA accounts to update transactions I have to go through 2FA and input a code which is annoying.. since we have his and her accounts I have to do 2FA twice.

I don't understand question #2... I download transactions but not account statements. Please elaborate.

PB4uski, Darn it, I fully expected you to be the one that would have the answer to this problem so if you don't know, I doubt that anyone will. And yes I do have to enter the code they text me and sometimes the first one does not always seem to work. It's all very annoying but having said that they are the nicest people when you call them. I did call and try to get help with the IRA CD problem and they said it must be on the Quicken side. The quicken community has mentioned problems with Navy updates as well but no one had an answer.

 

[OldShooter]

... #2. I just wondered if monthly statements could automatically download into quicken for reconciliation but I just realized that I don't really need that piece of paper, I can reconcile to my online balance ...

That's what I do. I just download the transactions, download asset values (MF, ETF, etc.) for the month-ending date, and match the Quicken account total value against the mailed paper statement. (Easier for me than using the online statement.) Then I shred the statement.

My problem in this scenario is that between Schwab and Quicken they cannot get the market value of TIPS to be correct. I have not bothered to track it down but it seems they are either giving me the inflation-adjusted face value of the TIPS or the market price based on the bid/offered prices but not including the inflation increment. So each month I have to go to the paper statement, calculate the true market value, and plug it in to Quicken. I also have to periodically go into their price history and delete bogus numbers as it seems to download them when I download transactions. We only hold a couple of issues so this calculation is not burdensome, but it might be for someone who has multiple issues like in a ladder or a liability-matched portfolio.

Anyone with clues on this, suggestions welcomed.

 

[PaunchyPirate]

I think your problem for #1 is referred to by RockyMtn. You probably need to set up the IRA CD account as a RETIREMENT account in Quicken and not just a savings account. I don’t recall the various account types for retirement but maybe one can work.

#2 I have never seen any hint of such support.

Edited to add... After looking at Quicken, my confidence that my statement for #1 means anything is low. But it’s worth a check out. Look at the third tab on the account setup. There is an investment purpose. Make sure it’s set to Retirement.

 

[cathy63]

If the IRA accounts are greyed out and labeled as "not supported", then I am pretty sure this is not something you can fix from the Quicken side. If you connect to a financial institution and Quicken finds new accounts, it will offer you the option to create a new account in Quicken or link to an existing. If you're not getting those, then it's because the account coding in the download stream doesn't match any known account types that are supporte in Quikcen.

 

[RetiredAndLovingIt]

Thanks, you understand exactly what should happen and what does not happen with the IRA accounts. I'm going to call Navy in the morning, I wonder if they might have a separate secret account number or logon only for the iRA's. I would imagine that if this was a real problem, there would be more complaints about it online.

 

[RetiredAndLovingIt]

I think your problem for #1 is referred to by RockyMtn. You probably need to set up the IRA CD account as a RETIREMENT account in Quicken and not just a savings account. I don’t recall the various account types for retirement but maybe one can work.

#2 I have never seen any hint of such support.

Edited to add... After looking at Quicken, my confidence that my statement for #1 means anything is low. But it’s worth a check out. Look at the third tab on the account setup. There is an investment purpose. Make sure it’s set to Retirement.

I'll check the setup in the morning but I've using Quicken since the 1990's and I've never had a problem setting up online banking for my IRA's previously.

 

[RetiredAndLovingIt]

I had the same problem earlier this month with a couple of my accounts. What I finally had to do was go to "Accounts" click on the affected account, then click on online services.

I would first try "reset account" and see what happens. If that doesn't work try "Deactivate Account" and then re-add the account.

My IRA's are all in the "Retirement" section, Brokerages in the "Investment" section and everything else in "Spending" or "Other".

Quicken can be very very fickle. Sometimes just restoring a backup will solve on line issues. Just keep trying different approaches and sooner or later something works.

Can't say I'm to impressed with the new subscription Quicken, the first couple of months it drove me crazy. Searches produced the results I needed but when I would click on it, the register would show a balance of $100,000+, definitely an error. I'm not sure if they fixed that yet. Also every time I opened Quicken and put in my password, it then would ask me to to login as well. I discovered if you waited for a while it opened up on it's own, that one has been fixed. The worst one was simply the length of time it took to open the file, I could sit there for 5 minutes while it thought about it. This never happened on any previous versions, they opened almost instantly.