Account structure for IRA mutual funds

[Robert Ramsdell]

On Fri, 2006-11-03 at 22:30 +0000, Sean Fulmer wrote:

> Finally, it came to matching transactions. I didn't have anywhere to account for
> the stuff I rolled into the IRA from an old 401(k), so I created another asset
> account for the 401(k), with an opening balance that matched the total of the
> rollover.

It all sounded good until this.  I suspect that the proper place for the
old 401(k) is in the Equity tree.  Then the IRA asset account will have
a positive balance.

> 
> So, my final account structure (related to my IRA) looks like this:
> 
> Assets (asset)
>     Investments (asset)
>         IRA (asset)
>             Fund 1 (mutual fund)
>             Fund 2 (mutual fund)
>             Fund 3 (mutual fund)
>         Old 401(k) (asset)
> Income (income)
>     IRA Income (income)
>         Income for Fund 1 (income)
>         Income for Fund 2 (income)
>         Income for Fund 3 (income)
> 
> The income accounts have matching transactions in the fund accounts.
> 
> The IRA asset account has 'automated cash reversal' transactions that match to
> the Old 401(k) asset account. The IRA asset account also has contribution
> transactions that balance the automated cash reversal transactions, resulting in
> a $0 balance on the IRA asset account.
> 
> So, finally, after all of that, the simple question is: Did I do it right?
> 
> Thanks -
> 
> Sean
> 
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