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transfering accounts to new data file

dccahn

I made the mistake of setting up a non-profit account in the same Quicken account as my bank account. I can see from other questions that this should have been set up differently at the start. However in the here and now, I need to move one bank account to a separate data file so that someone else can take over the non-profit account. Can someone explain how to do this, if possible.

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jacobs

It's a little convoluted, but you should be able to do this.

Quicken Mac lets you export transactions as a CSV file, but then importing the CSV file requires reformatting it in a very particular and likely losing some data. Instead, try this…

Quit Quicken
In the Finder, make a duplicate of your data file
Double-click the duplicate file to open it in Quicken
Delete all the accounts except the one you want to move: in the left sidebar, Control-click on each account one at a time, and select Delete from the pop up menu
Now that you have the duplicate file with just the one account, select File > Export > Quicken Transfer File (QXF) and export it to your Desktop
Now do File > New and select Start from scratch
Select File > Import > Quicken Windows File (QDF, QXF) and point to the exported .qxf file
Quicken will import the contents of that file, namely a file with just one account
You will have to set up any preferences/settings, bank download credentials, reports, etc. again

Once you're sure your new file has the account for the non-profit intact, you can switch back to your personal file and delete the non-profit account from your personal file. And delete the QFX file.

Switching between these files should be easy using the File > Open recent command.

Jon

There's no good way to export a single account that I can think of. Probably the easiest thing to do would be to make a copy of your Quicken file & delete everything except the non-profit accounts, then give that file to your successor.

jacobs

@Jon The reason I suggested doing the extra steps of export and import into a new file is to insure there is no connection in Quicken Cloud or anywhere between the two files. If you just make a copy of the file and the new treasurer starts using it, while you use your original file, Quicken will complain that one of you is not using the most recent version of the file.

bwdon

I am in a similar situation where I want to move an account. I have experienced correuption in my Quicken file after 15 years of using the same file. My life has changed (kid costs and education over, retired, etc.) so I think it is probably best to just start over again keeping the corrupt file for reference up to 12/31/2023.

However, I would like to keep the transaction details in my new file for a couple of accounts (e.g., all my housing capital costs, a mutal loan/receivable with a good friend, etc.). I understand the process above, but what happens with the matching transfer when I import the QXF file for only 2 or 3 accounts (e.g., as above)? The matching transaction in my bank account won't be there becuase it is starting from Jan 1, 2024.

jacobs

@bwdon You're correct that duplicating a file, deleting some accounts from it, exporting what remains to a QXF file, and then importing that into a new or existing file is not a perfect solution. Linked transfers will be broken, the remaining transacitons will use the generic Transfer account, so your account balance should remain correct, but you'll have no way to know where the money came from or went to. And there's a good likelihood that you will need to create or edit an opening balance transaction in the new file's accounts. Look at your old file, and write down the year-end account balances of any accounts you'll be keeping in the new file. Then in the new file, make or edit the opening balance adjustment to force the new year start with the correct balance you wrote down.

bwdon

@jacobs - Thanks. I wondered if the pre-2024 transactions would adjust the 12/31/2023 opening balance and you confirmed that. I don't mind about where the transactions come from - just wanted to have the details. When you say they "will use the generic Transfer account", what is that? Does that create a new accout to offset the imported transactions?

jacobs

When you say they "will use the generic Transfer account", what is that? Does that create a new accout to offset the imported transactions?

No, "Transfer" is simply a category — but it's a special category which Quicken does not count as either income or expense. So it simply reflects that money came in from/went out to somewhere Quicken isn't tracking. So if you're eliminating an account you currently have a transfer to/from, switching it to the special generic Transfer category preserves the money coming to/leaving from the account you are retaining.

bwdon

OK - I understand. I will finish setting up the rest, back it up the new file and give it a try. Thanks.

Any tips on setting up a few investment accounts on which I use the Complete (not the Simple) option? I would love to set the cash as of 12/31/2023 and then manaully enter my holdings as of 12/31/2023. That would give me historical reports, match up the cost (basis) of the invesments when they are sold, etc. Right now, in my new 2024+ fileI have ~714 days worth of transactions which I don't really want to re-enter and which is not the original starting point anyway.

jacobs

Are you going to enter the investment account transactions manually going forward, or are you looking to connect them to download from the brokerage(s)? If the former, then yes, you can just enter Add Shares transactions to create your holdings as of 12/31/23 out of thin air, and move forward from there. If the latter, no matter what you enter intially, when you first connect in the new file, you will get transactions going back prior to 1/1/24. You might want to try it, and then see if you can delete the unwanted transactions and replace them with a 12/31/23 entry(ies) to adjust your holdings to the correct values as of the start of the year.