Close Investment Account and Past Transactions Disappear from Reports (Q Mac)

hosta72

I changed jobs so my 401K changed. I'd like to hide or close my old 401K but however I try to do it, the portfolio value report that is shown when I'm in investments changes as if the old 401K never existed -- the value up until the money was moved to the new account is low, which is not correct. Is there a way to hide/close the old account without it impacting the reports and graphs?

John_in_NC

Hi, hosta72:

Yes, you can do what you want, but before I give details about hiding/closing accounts, you need to determine what happened to this account in the real world. Did your holdings get sold/converted to cash, and then moved over to the newer 401k? Did the holdings get transferred over to the new account (unlikely)? Are you still holding your positions in the old 401k account?

I think you need to determine that before you simply "Close" the old account. Details would help, and you might have to do a little sleuthing to determine what happened so that you can accurately report this in Quicken.

I don't follow what you mean by ""the value up until the money was moved to the new account is low, " so some details about that would help as well.

Thanks!

hosta72

The old holdings were converted to cash, the cash was transferred to the new account, and new holdings were purchased. And that was all done in quicken -- as in I have the cash transferring from the old account to the new account.

Let me try to explain this better. When I go to my investment accounts, there is a graph that shows the portfolio of my investment accounts over time, and I can choose YTD, 1 yr, 3 yr, 5 yr, 10 yr, or max for the time. If I close my old 401K, suddenly the portfolio value drops for the time that the old 401K was active. Lets say I had $200,000 in the old 401K that got transferred to the new 401K. When I close or hide the old 401K, the portfolio value drops by 200,000 up until the new 401K was opened -- even though the money was there in the past. So I have to keep the old account open if I want to see how my portfolio value has changed over time. Which shouldn't be how it works. Just because the account is closed now doesn't mean it wasn't active 2 or 3 years ago. The money that was in it in the past was in it then, even if it is closed now.

So I don't know if this is a bug/oversight, or if I am doing something wrong.

John_in_NC

Thanks for the clarification, hosta72.

When you close the account, it also sets it as Hidden in lists. That is why you no longer see the balance included when you look at the global Investment Portfolio view.

If you traverse to your hidden 401k account, go to Transaction view:Settings, and remove the option to Hide in Lists. You should see the prior balances again included in your total Portfolio view. It should report the balances correctly for the past and after you transferred the balance to your new 401k

caleboverman

I'm running into the same issue, but would like to keep the closed account hidden from my open accounts to prevent them from cluttering my list of active accounts. Is there anyway to keep the historical values in the portfolio chart while simultaneously hiding the account from the left pane?

hosta72

That's what I want to -- since I no longer use the account (it is closed) I don't really want to see it on my list. I want it to be closed and hidden -- which to me shouldn't result in the chart changing, but it does.

Quicken_Tyka

Hello all,

Thank you for taking the time to visit the Community to report this issue, although I apologize that you haven't received a follow-up response.

When closing an account, the dialogue states that the transactions will be kept for historical reporting.



WhenI close a brokerage account, I see no changes in the portfolio graph.





While my account has a market value from shares held, I do not have any cash or any transaction types that generate any cash, ie buy, sell. I track my account using only "Add Shares."

Do these accounts in question have any holdings or cash that are being zeroed out by closing the account that could account for the changes?

Please let me know!

-Quicken Tyka

Rick2022

What about something like this?

Lets say that the Old 401K account is named: McD 401K.  In that account you would have a sell transaction for each fund/stock in the account since everything was sold to buy in the new 401K account.  For the memo of the sells, enter something like "Moved to company BK" so you'd have a date in the file that this occurred.

Edit the name of McD 401K account to BK 401K (new company name), edit the link to download from company BK 401K and then continue as normal.  It is still your 401K so why would it matter to close account and open another?  You'd have all the historical info in 1 account.