Should I start a new Quicken File for 2019

I have a full year of transactions in Quicken 2018 Deluxe Mac, and I am considering what to do for 2019.  Do I keep one big file with 2018 and 2019 data, or should I start a new file with just 2019 data?  One reason for creating a new file is because I have paid off loans in 2018, and will no longer need these accounts going forward.  I am concerned that if I delete these accounts it will create problems with linked transactions. Also, if I delete the accounts then I will not have a historical record. Suggestions and feedback appreciated...
«1

Comments

  • mshigginsmshiggins SuperUser ✭✭✭✭✭
    edited January 1
    I have all my accounts and transactions going back to 1996 in one file. It makes searching for and reporting on past year transaction much easier to have all your data in one file.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • RickORickO SuperUser ✭✭✭✭✭
    edited January 1
    With the modern database and hard drives, there is absolutely no need to split files by year. If you have account that you are no longer using, just go to menu Accounts > Hide and Show Accounts, and hide the account that you no longer need to see. You can hide it in the sidebar, in reports or both.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • GeoffGGeoffG SuperUser ✭✭✭✭✭
    edited January 27
    You cannot delete any account in Quicken that has activity (only hide) as stated above. There is no reason to start a new file.
    user since '92 | Quicken Windows Premier - Subscription | Windows 10 Pro version 1903
  • RickORickO SuperUser ✭✭✭✭✭
    edited November 2018
    GeoffG said:

    You cannot delete any account in Quicken that has activity (only hide) as stated above. There is no reason to start a new file.

    That's not correct. You certainly can delete an account instead of hiding it if you wish. Any transfers involving that account will be shown as broken transfers on the other end.

    However, generally speaking, it's better to hide rather than delete dormant or closed accounts to maintain the history. I do agree that there's no reason to start a new file.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Beijing MacBeijing Mac Member ✭✭✭
    edited November 2018
    In Quicken for Windows, you can also "close" an account and it becomes inactive, but still available for historical purposes and will keep the transactions (not break them).  I think this is better option than deleting an account.
  • RickORickO SuperUser ✭✭✭✭✭
    edited November 2018

    In Quicken for Windows, you can also "close" an account and it becomes inactive, but still available for historical purposes and will keep the transactions (not break them).  I think this is better option than deleting an account.

    This question is about Quicken Mac and it was already answered above how to hide accounts in Quicken Mac.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Beijing MacBeijing Mac Member ✭✭✭
    edited November 2018

    In Quicken for Windows, you can also "close" an account and it becomes inactive, but still available for historical purposes and will keep the transactions (not break them).  I think this is better option than deleting an account.

    Rick - I could read quite fine and do realize that it was a Mac question.  I quite clearly said that this was an option in Windows.  I do not use Mac version of Quicken and do not know what features it has, but was merely point this out and if it is comparable then that could be an option for the original poster.  What is wrong with me trying to help also?  or is my advice not worthy?  or incorrect?  Not sure what your point you are trying to make?  
  • jacobsjacobs SuperUser ✭✭✭✭✭
    edited November 2018

    In Quicken for Windows, you can also "close" an account and it becomes inactive, but still available for historical purposes and will keep the transactions (not break them).  I think this is better option than deleting an account.

    @Beijing Mac, your help to fellow users is certainly welcome in this forum! Just to explain, since you're asking... since you note that you are only familiar with Quicken Windows, posting information about how it works in the Windows version confuses things slightly because @RickO had already explained above exactly how to hide accounts in Quicken Mac. (In Quicken Mac, you do not "close" accounts, but you can hide them from the list of accounts and/or appearing in reports.)
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • Jason HayesJason Hayes Member
    edited November 2018
    Everyone's suggestions have been extremely helpful.  I will continue in 2019 with one file, and then hide the inactive accounts.  Thank you!
  • GeoffGGeoffG SuperUser ✭✭✭✭✭
    edited November 2018
    GeoffG said:

    You cannot delete any account in Quicken that has activity (only hide) as stated above. There is no reason to start a new file.

    I see this is Mac related. You cannot delete an account in QWin. Are you stating that an account can be deleted in QMac?
    user since '92 | Quicken Windows Premier - Subscription | Windows 10 Pro version 1903
  • splashersplasher SuperUser ✭✭✭✭✭
    edited November 2018
    GeoffG said:

    You cannot delete any account in Quicken that has activity (only hide) as stated above. There is no reason to start a new file.

    You can delete accounts in Q-Win, the transfers to that account have their category changed to "unspecified account".

    image

    IMO, you don't want to start a new file every year, mine (like mshiggins) goes back to 1996.  It is a great diary of what you have done financially and when you bought things.  Having to go thru multiple old past year files to find when you did something is a nightmare.
    -splasher  using Q since 1996 -  QW 2015, 2016, 2017 & Subscription  -  Win10
    -Questions? Check out the  Quicken Windows FAQ list

  • Pat DugganPat Duggan Member
    edited November 2018
    GeoffG said:

    You cannot delete any account in Quicken that has activity (only hide) as stated above. There is no reason to start a new file.

    If you wanted to do it, could it be as simple as waiting until all 2018 Transactions are received, then saving it as a FINAL 2018 file, then deleting any 2019 transactions from it, After saving the existing file as a 2019 File, then deleting any old 2018 transactions. If I decided to do it I think I'd do it 2 years at a time, so I'd have last year's transactions as a reference going forward.
  • splashersplasher SuperUser ✭✭✭✭✭
    edited December 2018
    GeoffG said:

    You cannot delete any account in Quicken that has activity (only hide) as stated above. There is no reason to start a new file.

    One issue with making "year" files, is that there is always carryover transactions, checks written in December and not cashed until January.  Which year should it go in?  You spent it in Dec, but the bank honored the check in Jan.  What is important to you, budget or cash flow?  Keeping a single file eliminates that issue.
    -splasher  using Q since 1996 -  QW 2015, 2016, 2017 & Subscription  -  Win10
    -Questions? Check out the  Quicken Windows FAQ list

  • Rick RobinsonRick Robinson Member
    edited January 9
    I've kept a single file for many years also, even though I liked the ability in much earlier versions of Quicken to start a new year with end of year balances and unreconciled transactions. The current generation of Quicken for Mac does not have that feature. 

    A single file has worked fine, although I do get annoyed with so many hidden accounts, ancient payees, etc. However, my Quicken data file is now corrupted. I've followed support's instructions to Export the current file and re-import it (along with a lot of other work), to solve this problem. But, something in the corruption makes it impossible to Export the file. It just hangs up. 

    So, I do think I'll start a new file on 1 January 2019, since working with a corrupt data file makes me nervous. Does anyone, especially Quicken, have any suggestions for the best way to do this? Is there an easy-to-follow recipe? 

    I don't want start with my current file and delete old transactions, obviously. So, I was planning to start a new file, re-create all my current accounts with starting balances, re-enter any open/unreconciled transactions, etc.
  • Jason HayesJason Hayes Member
    edited December 2018
    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.
  • QPWQPW Member ✭✭✭✭
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    On the issue of corrupted files and separating out the years in an effort negate/lessen the problem.

    That might limit the problem to rebuilding one year of data, but even that sounds like lot of work.  And you are sacrificing being able to do things like search your transaction history report on longer terms.

    I think the best defense for this problem is long term backups of your data file.
  • Rick RobinsonRick Robinson Member
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    Well, not really. I have a September backup that *might* not be corrupt. But, if I restore that, then I still have roughly 3 months of entries to update, splits that I created, edits to amortization, correcting category assignments, etc. etc. Not really an option to go back to a long term backup...
  • QPWQPW Member ✭✭✭✭
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    I agree with you Rick that long term backups tend become useless past the point where you are willing to rebuild them, but the point isn't to say they "save you from corruption", but more to say "at least the as good (actually better) than as starting a new data file every year".

    If it is December 1st and you find your data file corrupted, and your "backup plan" is that you know last year's data file isn't corrupted, you have 11 months to rebuild.

    If you backups at say week, month, quarter, ...  you potentially have a backup where you have less work to restore, and you don't give up being able to see your long term financial history.
  • Rick RobinsonRick Robinson Member
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    I'd prefer to start a new data file every year, just like I used to do with the original Quicken for Mac. My preference. But, that isn't really my issue now. My issue is that I have a corrupt file that I have no reasonable way to fix (which starting a new file at the year end might solve), but rather have to start all over again, which is far more burdensome...

    I don't care about the religious "elegance" or "convenience" of massive data files with obsolete data that may be corrupt. I prefer the pragmatic solution of getting rid of corruption in a file with minimum effort.

    As per my initial input, if anyone has a recipe for this with the current software architecture, please share.
  • jacobsjacobs SuperUser ✭✭✭✭✭
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    Rick, I understand your situation, but I'm not sure what advice you're looking for. You seem to understand the options, and starting over with a new file seems like the only sure way to insure you leave behind whatever corruption problem you have. So you'll need to create your current accounts in a new file, and enter your starting balances as of 1/1/19.

    For investments, you have two choices: replicate all the purchases and sales in your current accounts, or enter the starting value and rely on your financial institution to provide your gain/loss data for tax purposes.

    What questions do you have about your plan to start fresh in 2019?
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • Rick RobinsonRick Robinson Member
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    I guess this is what I'm looking for. Any suggestions on how to do this, shortcuts, implications, etc. I had not thought about the investment history hit, but I think I can absorb that because I don't rely on Quicken for tax info.
  • Jason HayesJason Hayes Member
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    I would be satisfied if Quicken at least permitted annual archives of data.  Perhaps this already exists or there is a workaround.  I am suggesting one main data file with all years, but then around the start of the new year, one could set aside an annual archive of data.  This would safeguard against corruption of the whole file and would segregate data into annual files, as was easily done with Quicken 2007.  Some on here are probably thinking, "why not just save an annual back up file of the entire data?" I am sure many already do that, but I would like to look at annual data files rather than one massive set of decades of data.
  • splashersplasher SuperUser ✭✭✭✭✭
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    What is the difference between saving the last backup of the year and what you are asking for?  I don't see a difference.  If you are suggesting a programmatic change, you need to start a new thread and select "Idea" vs Problem or  Question.
    -splasher  using Q since 1996 -  QW 2015, 2016, 2017 & Subscription  -  Win10
    -Questions? Check out the  Quicken Windows FAQ list

  • QPWQPW Member ✭✭✭✭
    edited December 2018

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    She wants Year End Copy:

    You can vote for it here:
    https://getsatisfaction.com/quickencommunity/topics/year-end-copy-for-quicken-for-mac
  • Amy MillerAmy Miller Member
    edited December 2018

    I've kept a single file for many years also, even though I liked the ability in much earlier versions of Quicken to start a new year with end of year balances and unreconciled transactions. The current generation of Quicken for Mac does not have that feature. 

    A single file has worked fine, although I do get annoyed with so many hidden accounts, ancient payees, etc. However, my Quicken data file is now corrupted. I've followed support's instructions to Export the current file and re-import it (along with a lot of other work), to solve this problem. But, something in the corruption makes it impossible to Export the file. It just hangs up. 

    So, I do think I'll start a new file on 1 January 2019, since working with a corrupt data file makes me nervous. Does anyone, especially Quicken, have any suggestions for the best way to do this? Is there an easy-to-follow recipe? 

    I don't want start with my current file and delete old transactions, obviously. So, I was planning to start a new file, re-create all my current accounts with starting balances, re-enter any open/unreconciled transactions, etc.

    I am having the same issue. I've been using for almost 10 years. I called support when I started having glitchy things happening. They said the bigger the file gets the more likely to become corrupt. Which really stinks because the whole point is to be able to see back. Her suggestion was to start a new file, but I really need at least 2018 data in there as we started a new business. So far, I haven't found ANY resolution that doesn't involve downloading the already corrupted information and then it being a problem in the new file. You can copy and paste transactions from one file to the other but only ONE TRANSACTION AT A TIME! That won't work! Anyone else have any ideas???
  • Amy MillerAmy Miller Member
    edited January 9

    That was my concern as well — a corrupted file. On a few occasions, a quicken update has changed an account balance and I’ve had to go clean up the issue. I can’t imagine having to do that with multiple years and the same issue occur.

    But the year end copy is still from a corrupted file. So bringing it over to a new file won't fix the problem. Is there a way to JUST download and import the transactions themselves?
  • jacobsjacobs SuperUser ✭✭✭✭✭
    edited December 2018

    I've kept a single file for many years also, even though I liked the ability in much earlier versions of Quicken to start a new year with end of year balances and unreconciled transactions. The current generation of Quicken for Mac does not have that feature. 

    A single file has worked fine, although I do get annoyed with so many hidden accounts, ancient payees, etc. However, my Quicken data file is now corrupted. I've followed support's instructions to Export the current file and re-import it (along with a lot of other work), to solve this problem. But, something in the corruption makes it impossible to Export the file. It just hangs up. 

    So, I do think I'll start a new file on 1 January 2019, since working with a corrupt data file makes me nervous. Does anyone, especially Quicken, have any suggestions for the best way to do this? Is there an easy-to-follow recipe? 

    I don't want start with my current file and delete old transactions, obviously. So, I was planning to start a new file, re-create all my current accounts with starting balances, re-enter any open/unreconciled transactions, etc.

    Amy, could you clarify which version of Quicken you're using. Are you still on Quicken 2007, or are you on a recent/current version of Quicken Mac?

    The first reason I ask that regards the file size/age issue. It's true that Quicken 2007's old database is known to have some data stability issues. Most can be fixed by a simple re-indexing command, but I've experienced it deleting and mangling data beyond easy repair. But the modern Quicken Mac uses a very different database, and it's extremely unusual to have data problems with it.

    If you have Quicken 2007, and you're going to move to Quicken 2019, I understand your concern about importing corrupted data. The good thing is that Quicken 2019 will make the data stable upon import; that is, if there's incorrect or incomplete data from your old file, it will be incomplete -- but stable -- in Quicken 2019. Let me give you an example from experience with my own data files.In my Quicken 2007 data file, there's a batch of transactions in one account in which, somehow, any transfer transactions lost their connection to the other side of the transfer. When I import that file into Quicken 2019, the data that's there gets imported, and log file tells me I have a bunch of orphaned transfer transactions, and it's up to me to figure out how to deal with the missing transfers and make sure my balances are correct. But I brought forward the other 99% of my data cleanly, and the instability in Quicken 2007 does not create an instability in Quicken 2019.

    Please clarify which version of Quicken you're using, and we can make some suggestions about how to possibly start with a subset of your old data, should it actually be necessary.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • Amy MillerAmy Miller Member
    edited December 2018

    I've kept a single file for many years also, even though I liked the ability in much earlier versions of Quicken to start a new year with end of year balances and unreconciled transactions. The current generation of Quicken for Mac does not have that feature. 

    A single file has worked fine, although I do get annoyed with so many hidden accounts, ancient payees, etc. However, my Quicken data file is now corrupted. I've followed support's instructions to Export the current file and re-import it (along with a lot of other work), to solve this problem. But, something in the corruption makes it impossible to Export the file. It just hangs up. 

    So, I do think I'll start a new file on 1 January 2019, since working with a corrupt data file makes me nervous. Does anyone, especially Quicken, have any suggestions for the best way to do this? Is there an easy-to-follow recipe? 

    I don't want start with my current file and delete old transactions, obviously. So, I was planning to start a new file, re-create all my current accounts with starting balances, re-enter any open/unreconciled transactions, etc.

    @Jacob's I'm on Windows. Was on 2018 just upgraded to 2019. We have consistently upgraded about every 2 years since starting with them.
  • Claudia ByramClaudia Byram Member
    edited January 5
    GeoffG said:

    You cannot delete any account in Quicken that has activity (only hide) as stated above. There is no reason to start a new file.

    I want to start a new Quicken file for 2019, based on the old one. The reason is that I want to delete some of the categories I've used in the past but don't want to loose the data or have it uncategorized. So I figure if I can copy my current file then mess around with the new one when I want to look at old data I can open the old file. Make sense? Thanks
  • GeoffGGeoffG SuperUser ✭✭✭✭✭
    edited January 5
    GeoffG said:

    You cannot delete any account in Quicken that has activity (only hide) as stated above. There is no reason to start a new file.

    Are you aware you can recategorize categories and change existing transactions? You really don’t need to start a new file and it’s advantageous to keep history in one file.
    user since '92 | Quicken Windows Premier - Subscription | Windows 10 Pro version 1903
This discussion has been closed.