Contribution Import

[pmacduff]

OK - Here's my situation. I have a 401(k) plan where the Employer splits the money up among the plan funds and sends the $ directly to the funding house. I receive monthly spreadsheets with the splits by individual and investment. Isn't there a way for me to import this information into Relius? I tried setting up a DER with SS# and each account (there are 3 deferral accounts and 3 match accounts). However, when I import, it doesn't ask me for a date (story of my life ). In any event, I want to import these monthly splits and then run monthly transactions. Can anybody help? Thanks in advance.

[Guest Richard Scheer]

It sounds like you set up a DER to import contributions (by account). In order to get the numbers into the system, you need to post a takeover transaction. When you set up the takeover transaction, you can tell Relius what date to use.

[pmacduff]

I do have a DER to import the contributions by fund...My problem is that if I do this monthly and post a takeover transaction for each one, I then lose my data, right? So if, for some reason I have to reverse and repost, I would have to start all over again and reload each month. It seems like there must be an easier way!?!?!?!?!?

[Guest Richard Scheer]

You can post the 12 takeover transactions without overwriting each other. When you reverse a takeover, you lose the data -- I don't know if reversing 1 will cause you to lose 12 months of data.

The other alternative is to import the contributions into the payroll screen and add a contribution transaction. Of course, you will have to add the allocation % to your census screens so that Relius can calculate the correct splits.

[pmacduff]

Richard - thanks for the replies! I didn't want to post to the payroll data and let Relius do the splits because I know that there would be slight variations each month between the client's actual split and the Relius split due to rounding differences (surely only pennies, but then I'm one of those who MUST balance things to the penny!. ) I did import with my DER and then use the takeover transaction for the first month and it worked fine. It actually doesn't take much time, either, so as long as I save my *.csv import files, I can do it rather quickly should I need to reverse and rerun. Thanks again for your time and input! Patti

[Tom Poje]

and what wasn't mentioned, but make sure you add a 'note' to the transaction. that way if you do have to reverse the transaction, you know what file name you were working with for that particular takeover transaction.

you also could achieve the same results using transaction import, but basically it works the same as using a takeover transaction.

(now if it was distributions or gains/losses, that you can import and create transactions - why they haven't added the ability to do contributions I don't know, but such is life)