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SEP-IRA Entries with Fidelity RRS feed

  • Question

  • Can I trouble someone to do a quick walk thru of the sequence of entries for a SEP-IRA held with Fidelity?  My employer deposits a check into my Fidelity account annually, I then purchase either stock or mutual funds.  As I'm sure most of you know, Fidelity uses a cash reserve account, FDRXX.  I'm not sure how this plays into the entry of contributions, stock/mutual fund purchases, etc., at least insofar as Money is concerned.
    Saturday, May 5, 2012 12:08 AM

All replies

  • You will want to create an investment account and mark it to be a Retirement Account in the Account Details. Name the Account something such as Fidelity SEP.

    I suggest you set Tools->Settings->ProgramSettings->(Display:)StartMoneyWithThisPageOpen:AccountList. Then you can select your account to go to Fidelity SEP.

    I suggest you  click Shortcuts at the
    top, and configure in AccountList, Portfolio, Reports (and other favorite places) for single-click access.

    In the account, see that there  is an InvestmentTransactions and a CashTransactions portion that you select on the left column once inside.

    In the sequence you described, you would enter the deposit into the CashTransactions Register. Now you could enter a Buy of FDRXX into the InvestmentTransactions register and similarly enter Sells when you buy something else, but it's easier to just let the cash balance represent the FDRXX holding. However once per month you will enter an Interest transacton for FDRXX into the InvestmentTransactions register.

    Into the investment account you will enter your stock and fund Buys and Sells.

    I suggest that you use PocketSense to enter your transactions from Fidelity and your credit cards.  https://sites.google.com/site/pocketsense/home/msmoneyfixp1/p2

    That will download your transactions as well as the quotes for the stock and funds in your account directly from Fidelity and credit card company servers. There is some effort to set it up to begin with. But afterwards you will have operations largely automated. If you decide to try that, there is more information available that you will need. Post back onto this thread if you are going to use PocketSense and get to where you want that extra information. Much extra information is contained in Ameridan's Microsoft Money Offline Weblog http://microsoftmoneyoffline.wordpress.com/2010/10/06/cal-learners-review-fidelity-401k-citi-card-and-vanguard-account-info/ .

    Saturday, May 5, 2012 11:04 AM
    Moderator
  • Cal,

    Thanks for the quick response!  I have followed your suggestions but have the following problem.  Each month my Fidelity statement will usually show a dividend received for one or more of my holdings, with a reinvestment of equal value.  I have entered the dividends as a dividend and the reinvest as a reinvest dividend in the InvestmentTransactions portion of the account.  The value for the dividend also appears in the CashTransactions portion, but the value for the reinvest dividend does not.  Needless to say this creates a balance in the Cash Transactions that does not equal the FDRXX holdings.  Any suggestions?

    Saturday, May 5, 2012 1:42 PM
  • Yes. There are three ways to go on this.

    1. Install PocketSense and get the transactions as far back as you can. Expect Money to match the entries you have already made. Expect it also to add Dividend transactions into the InvestmentTransactions register for Fidelity Cash Reserves (FDRXX) for the period that it still has the downloadable transaction data. Each of those will increase the cash balance. If you want to try PocketSense, work with a copy of your file with a new filename. That way, you can return to the other copy if you don't like the result somehow. Enter the transactions that did not download because the downloadable information did not go back far enough. If you use Pocketsense, before setup I would add the following Site to the sites.dat file if you are in USA central time:

    <site>
        SiteName : FIDELITY
        AcctType : INVSTMT
        fiorg : fidelity.com
        url  :  https://ofx.fidelity.com/ftgw/OFX/clients/download
        fid  : 7776
        bankid :
        brokerid : fidelity.com
        appid :
        appver :
        mininterval :
        timeOffset :-23.5
    </site>

    Change the -23.5 to +0.5 for Eastern time, -23.5 for Central, -22.5, for Mountain, and -21.5 for Pacific time. Then avoid downloading from about 00:01 to 00:31 Eastern time when things are being changed over. The only downside of not having the timeOffset is that your quotes (closing prices of stocks and funds) may be dated one day off. The amounts will be right, and the transaction dates will be right in any case. I use a modified sites.dat file that uses the server time to make its decisions on how quotes are dated rather than using the local time as the released PocketSense uses. You have not expressed an interest in the quotes anyway, so quotes being a day off might not bother you at all.

    2. Manually enter the monthly dividends all Dividend transactions into the InvestmentTransactions register for Fidelity Cash Reserves. This will match what you would download if you ever decided to try PocketSense in the future.

    3. Alternatively, enter the Fidelity Cash Reserves as a deposit with an appropriate category into the CashTransactions register if you don't intend to use Pocketsense, and you expect to continue doing this by hand.

    Whichever way you do it, do a single compensating deposit transaction into the CashTransactions register , dated earlier than any transaction, to account for any balance difference that you cannot figure out, or do not care to bother with entering.

    Note that stocks are settled 3 business days after purchase or sale, and funds 1 business day after purchase or sale. So either compensate for that, or wait 6 days after your last stock buy or sell to read your FDRXX holdings to compute that initial deposit transaction.





    Saturday, May 5, 2012 4:07 PM
    Moderator
  • Cal,

    Again, thanks for the quick response.  I will most definitely work on getting PocketSense up and running.  It'll probably take me awhile, so it may be tomorrow or later before I re-post with any further questions...

    Saturday, May 5, 2012 4:50 PM
  • Cal,

    I've got PocketSense set up to download Bank of Stockton checking and savings, American Express CC, Fidelity and TD Ameritrade.  It seems to be working flawlessly at this time, thanks to the input I've received on this forum and from you specifically.  I was able to download transactions from both Fidelity and TD Ameritrade going back to 1/7/2011 and have been able to clean up and balance both accounts.  I do have a couple of questions though:

    1.  Do I need to set a timeOffset for TD Ameritrade?

    2.  I have been manually entering stock values daily since the demise of the MS Money servers, although I did start using hleOfxQuotes a month or so ago.  I now have PocketSense set up to download quotes from the Yahoo server, is there anything you'd recommend to make sure all quotes are as accurate as possible?  You had mentioned something in your earlier post about using a modified sites.dat file that uses the server time to make its decisions on how quotes are dated rather than using the local time as the released PocketSense uses.

    3.  I have 529 Plans for both of my children, one with through T. Rowe Price and one through Scholarshare.  Can PocketSense be set up to download transactions for these holdings and update the quotes?

    4.  Are you aware of anyone that has been able to access the CapitalOne CC ofx server using PocketSense?  I've searched the web exhaustively and can find nothing except that those who have tried have hit a brick wall.

    Again, thanks for your help in getting PocketSense set up, it's greatly appreciated!

    Saturday, May 12, 2012 3:38 PM
  • 1. Maybe. The symptom would be that the recorded *quotes* have the wrong dates -- generally later than the real closing date.  So you can look thru the quote history, and compare the stored numbers to the historic closing quotes.  The history of the recorded quotes being a day off may not bother you at all, in which case it would be a "no".

    The first <DTASOF> field is what Money looks at. It converts that datetime to a datetime in your timezone. After that, whatever day that corresponds to, that's how the incoming quotes are dated. If you look at your Ameritrade *.ofx file in the PocketSense xfr folder, you could figure out what offset would make sense.

    With Fidelity, the changes appear to occur after midnight and before 00:31 Eastern Time. So if you were to try looking at DTASOF before and after those times, you could probably figure out what offset would be best. To look at files like that, you will find that the Setup.py "7. Test Account" function" will let you download OFX files into the xfr folder for such tests.

    2. I suspect you would be better off getting your quotes from the Ameritrade OFX file where they are available. That way you only get closing prices. If you get the Yahoo quotes, you can get the same quotes by only doing your GetData when the markets are closed, but with the quotes from the OFX files, you only get closing prices. The trick is to get the date right. It's the first quote you get with a given day that gets remembered.

    My manipulations are in a Fidelity scrubber. I have put some things in there that were not needed. For example, I add newlines to make the OFX files more human-readable. In a text editor, you might try adding a newline before each '<' after the first. That will put each thing on its own line. Alternatively, just find the first occurrence of <DTASOF> and insert a newline character before that for easy viewing. "<DTASOF>20110108023019.000[-5:EDT]" would correspond to 2011 January 08 at 02:30 AM and 19.000 seconds. If you were in PDT or MST time on your computer, that would be interpreted as January 07 at 23:30 hours. So you would get a different date depending on what timezone you were in. Datetimes that correspond to noon in any timezone give the same date in any timezone. There are shortened time formats:
    <DTASOF>YYYYMMDD                        (12:00 AM midnight, GMT)
    <DTASOF>YYYYMMDDHHmmSS           (GMT)
    <DTASOF>YYYYMMDDHHmmSS.XXX    (GMT)

    Midnight is particularly bad for ambiguity.  <DTASOF>YYYYMMDD120000 gives an  unambiguous date for any timezone.

    In my Fidelity scrubber, I look at the server time. So it would not be a function of what timezone the user was in. With the timeOffset regular method, the value should vary according to your timezone. I can do that after observing how the server works. I also check the calculated day of the week. If that date is a Saturday or Sunday, I change the date to the preceding Friday.

    If you think you would like to make a TD Ameritrade scrubber, I could make my Fidelity scrubber available. Let me know how programming-oriented you are. I like this stuff, but you know how tricky it can be to read other people's code -- particularly code that uses "regular expressions". I do try to make up for that with comments. I even have some stuff that may not be needed any more and was never needed by most.

    3. For Scholarshare I find no data on the settings, but http://forums.iggsoft.com/viewtopic.php?f=5&t=27023 seems to indicate that it would be possible. For T. Rowe Price, http://moneydance.com/synch/moneydance/fi2004.dict lists settings for brokerage and retirement. You might see if either of those work when you move the info to the corresponding sites.dat entries. The 529 Plan may not work for either.

    4. No. http://microsoftmoneyoffline.wordpress.com/2010/10/06/cal-learners-review-fidelity-401k-citi-card-and-vanguard-account-info/ has a posting dated July 13, 2011 that indicates you are unlikely to succeed with that credit card. While you are there, you might post any successes that you have had that are not on that site.

    Are you aware of Popdown2.py? I invoke it in the  batch file that I use to invoke GetData.py. It pushes the buttons for you as each OFX file comes in.



    Saturday, May 12, 2012 6:03 PM
    Moderator