closing vs. hiding, and keep separate

Mitch Deoudes

Does closing an account gain you anything, vs. manually setting the equivalent account options (Hide in Transaction Lists, set balance to zero, disable download)? For instance, does it make the file more efficient / faster in some way? Closing is irreversible, which seems like a weird thing if it's not actually buying you anything.

Related: does "Keep Account Separate" refer to not including that account in reports *by default when creating a new report* only, or is there some other significance? I definitely have saved reports that include accounts I've made "separate".

Sherlock

No. The only thing gained is an icon indicating the account is closed.

Keep Account Separate also relocates the account in the Account Bar and excludes it from the net worth calculations.

If you haven't already, you may want to review: https://www.quicken.com/support/how-do-i-hide-or-close-account

Jeffrey Wilens

I decided to keep four accounts belonging to the kids separate, but even though they are not as visible in the account list on the left side (moved to "more accounts" line), the value of the accounts seems to be included still in the "ending balance" at the bottom of the list. If they are to be excluded from net worth calculations they why are they included in the ending balance which is basically the same as the net worth?

Sherlock

Jeffrey Wilens said:

I decided to keep four accounts belonging to the kids separate, but even though they are not as visible in the account list on the left side (moved to "more accounts" line), the value of the accounts seems to be included still in the "ending balance" at the bottom of the list. If they are to be excluded from net worth calculations they why are they included in the ending balance which is basically the same as the net worth?

An account within Separate is excluded from the total at the bottom of the Account Bar.  An account within More Accounts is hidden in the Account Bar.

I suggest for each of the four accounts you would like to keep separate, open the account, press Ctrl + Shift + E, select the Display Options tab, check Keep this account separate - account will be excluded from Quicken reports and features, and select OK.

luannbrenner

I still have a guestion--I have accounts that I am no longer using and have zero balances so I want to exclude them from my account list and from the balance sheet reports, but they have interest or other transactions during the year that I still want to be reflected in my income reports. Do I want to "Keep the account separate" or Hide account name in account bar and account list?

Sherlock

luannbrenner said:

I still have a guestion--I have accounts that I am no longer using and have zero balances so I want to exclude them from my account list and from the balance sheet reports, but they have interest or other transactions during the year that I still want to be reflected in my income reports. Do I want to "Keep the account separate" or Hide account name in account bar and account list?

Reports may be customized to include or exclude accounts.  While you want the accounts included in reports by default, you should not check Keep the account separate. 

I suggest you check Hide account name in account bar and account list and Hide in transaction entry lists today and check Keep the account separate next year.

luannbrenner

Thank you...so is there any reason to EVER use "keep the account separate?"

Sherlock

luannbrenner said:

Thank you...so is there any reason to EVER use "keep the account separate?"

You should use Keep the account separate when you want to exclude an account from net worth calculations, historical calculations, and from reports and graphs by default.

luannbrenner

thanks for your help!