How do I separate entities into their own files?

John2020

I currently lump all my asset/investment accounts together. They actually belong to three different entities (LLC, Trust, etc). How can I separate current data to arrange a separate file for each entity so they have their own income statements/balance sheets and I don't have to do it by hand?

John_in_NC

It can be done, but it will take a little work:

1. Create a backup of your existing file
2. File:Export:Quicken Windows Transfer File (QXF) Save this file to the desktop for easy access.
3. Create a new blank file via File:New. Use the Start from Scratch option.
4. In the new blank file, File:Import:Quicken Windows file. (Or, simply drag the file from step two to the open Quicken Window or dock icon.
5. This will reproduce your original file and should be identical to your original.
6. Delete out all the accounts that do not pertain to Entity 1
7. Repeat step 3 two more times, with each file only containing the accounts desired for that entity.

You can use File:Open Recent to jump between files. You can also use File:Rename to give the file unique names for each entity.

Your original file will also remain untouched, so you can always go back to that.

John_in_NC

RickO said:

John, Am I missing something? Why go through the whole QFX export? How about just making two additional copies of the file in the Finder. Rename them according to the entity. Then open each one and delete the accounts that don't belong.

Yes, that would be ideal/work, but for the sake of simplicity, I suggest the QXF route. That way the user doesn't have to find the hidden file location, work in the Finder, etc. Everything will be tucked away in the correct spots via File:New. 

Edit: It also creates a new internal file ID so there is no potential crosstalk between files with online activity.

John_in_NC

It can be done, but it will take a little work:

1. Create a backup of your existing file
2. File:Export:Quicken Windows Transfer File (QXF) Save this file to the desktop for easy access.
3. Create a new blank file via File:New. Use the Start from Scratch option.
4. In the new blank file, File:Import:Quicken Windows file. (Or, simply drag the file from step two to the open Quicken Window or dock icon.
5. This will reproduce your original file and should be identical to your original.
6. Delete out all the accounts that do not pertain to Entity 1
7. Repeat step 3 two more times, with each file only containing the accounts desired for that entity.

You can use File:Open Recent to jump between files. You can also use File:Rename to give the file unique names for each entity.

Your original file will also remain untouched, so you can always go back to that.

Frankx

John,

There are two potential approaches you could take.

The easiest approach would be to use tags for each of the different entities (one tag could be "LLC", another "Trust", etc.).  You would continue with the current Quicken file, with the various "accounts together" as you put it, but the tags would allow you to generate reports that would only include data for each entity.  You would, of course need to go back in history (for whatever time period you'd like to have separate information and add the tags).

The other approach would be to setup three different quicken files - one for each entity.  To do this, you would take your current quicken data file and make two additional copies of it; then rename the files - one for each of the entities.  The next step would be to go into each of the data files - one-at-a time, and purge all accounts (i.e. delete bank accounts, assets, liabilities for example) and transactions that apply to the other two entities.  Depending on how long you've been tracking these entities and the number of accounts and transactions, this may be an onerous task.  It would however, leave you with the "cleanest" set of book for each entity, so to speak.

Let me know if you have any questions and good luck!

Frankx

John_in_NC

RickO said:

John, Am I missing something? Why go through the whole QFX export? How about just making two additional copies of the file in the Finder. Rename them according to the entity. Then open each one and delete the accounts that don't belong.

Yes, that would be ideal/work, but for the sake of simplicity, I suggest the QXF route. That way the user doesn't have to find the hidden file location, work in the Finder, etc. Everything will be tucked away in the correct spots via File:New. 

Edit: It also creates a new internal file ID so there is no potential crosstalk between files with online activity.

Frankx

John2020 (original poster),

Per Quicken Help:

• The import and export of investment and business accounts, transactions, budgets, attachments, reports, and application settings is not supported by QXF.  

Therefore using the "QFX export" approach discussed above will not work for your investment accounts, and likely would not provide you will a full transfer of historical information.  The advice I provided above, will allow you to retain all historical data, including accounts, transactions, settings, etc.

John_in_NC

Frankx said:

John2020 (original poster),

Per Quicken Help:

• The import and export of investment and business accounts, transactions, budgets, attachments, reports, and application settings is not supported by QXF.  

Therefore using the "QFX export" approach discussed above will not work for your investment accounts, and likely would not provide you will a full transfer of historical information.  The advice I provided above, will allow you to retain all historical data, including accounts, transactions, settings, etc.

That was referring to Quicken for Windows. Quicken for Mac QXF import/export handles all transactions, including investments.