Can I set up a new account, separate from my current account(s)

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blue730
blue730 Member

I am on Windows, and I want to set up another checking account for a family member that would not be pulled into my accounts for spending charts, planning, etc. I have Quicken Classic-Deluxe. I'm just starting with it.

If you know how to do it, I'd love to know. Thanks!

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  • blue730
    blue730 Member
    edited May 5
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    I am on Windows, and I want to set up another checking account for a family member that would not be pulled into my current accounts for spending charts, planning, etc. I have Quicken Classic-Deluxe. I've just started with Quicken, but can't figure out how to do this.

    If you know how to do it, I'd love to know. Thanks!

  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta
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    @blue730 all you need to do is designate this account as "Separate". Go to the Display Options tab in Account Details and check "Keep this account separate…"

  • bmciance
    bmciance SuperUser ✭✭✭✭✭
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    The best way to do it is to just start a new Quicken data file for the family member:

    File > New Quicken File…

    When you create the new file you can then add this family members checking account to it. You would then have two separate Quicken files that you can use separately. When you open Quicken will be able to select which file to open

  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta
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    @blue730 all you need to do is designate this account as "Separate". Go to the Display Options tab in Account Details and check "Keep this account separate…"

  • bmciance
    bmciance SuperUser ✭✭✭✭✭
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    While this is a valid option, many users can get confused by this and if you need to add any additional accounts for this family member it will get more difficult to manage. It is your choice of course so whichever way you feel more comfortable with is up to you. I just don't like keeping someone else's accounts in my data file.

  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta
    edited May 4
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    @bmciance @blue730

    It all depends on the purpose of the separate account and the user's preference. I have done it both ways. I found that if you just have one account that you want to keep separate, it is easier to keep it separate in the same data file.

    If you have multiple accounts for a family member that you want to keep separate, then I agree that it would be best to create a new data file.

  • splasher
    splasher SuperUser ✭✭✭✭✭
    edited May 4
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    The information is kept in data file(s).

    You already have one for your information. Just create a second data file for the other family member. You can switch back and forth between the data files using the Recent File list on the File menu.

    You really don't want to mix the financial records of folks that file their taxes separately.

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta
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    @blue730 - it looks like you have duplicate questions posted. I will answer this one as well for consistency.

    It all depends on the purpose of the separate account and the user's preference. I have done it both ways. I found that if you just have one account that you want to keep separate, it is easier to keep it separate in the same data file.

    If you have multiple accounts for a family member that you want to keep separate, then I agree that it would be best to create a new data file.

  • splasher
    splasher SuperUser ✭✭✭✭✭
    edited May 4
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    As I stated in your duplicate post,

    it is a very bad practice to mix the financial records of different taxable entities. What would you do if at a later date needed/decided to hand off that information to someone else with Quicken to keep the records? Are you going to give them a copy of your data file to start with.

    Create a second data file, you will not regret it later.

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • bmciance
    bmciance SuperUser ✭✭✭✭✭
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    @QuickUserPSP , yes that is why I say whatever someone is more comfortable with. It will work either way.

    I used to keep checking accounts for my mother and my mother in law. I had each in a separate file. That was what I was comfortable with. I did not want their data in my file, whether it was "separate" or not.

  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta
    edited May 4
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    @splasher it all depends on why this account needs to be added and kept separate. When I started keeping track of my parent's finances, they were still able to manage on their own. So. I started to keep track of their checking account just to make sure things were going ok. I added their checking account to my data file, but kept it separate. This worked for a while. Then when I needed to manage more of their finances and do their taxes, I created a new data file for their accounts.

    If a user just wants to monitor an account, but nothing more, I see no reason why they can't add the account to their data file. Having a data file for just one account can be cumbersome.

  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta
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    @bmciance @blue730 again since there are duplicate posts, I have copied my answer to the other one for consistency.

     it all depends on why this account needs to be added and kept separate. When I started keeping track of my parent's finances, they were still able to manage on their own. So. I started to keep track of their checking account just to make sure things were going ok. I added their checking account to my data file, but kept it separate. This worked for a while. Then when I needed to manage more of their finances and do their taxes, I created a new data file for their accounts.

    If a user just wants to monitor an account, but nothing more, I see no reason why they can't add the account to their data file. Having a data file for just one account can be cumbersome.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    I've done it both ways before, myself.

    For me, I found it usually best to set up a new Quicken file for the other person. I found it to be the cleanest and easiest way to manage it, especially when it came to generating/managing reports, budgets, taxes, etc. It also made it very easy to later simply pass the data file along to the other person when that person was old enough to and wanted to manage his own finances.

    If this family member is an adult or disabled person then I would definitely recommend creating a new file for that person via File > New Quicken File because the odds are that the complexity of the financial data in the file will be greater than you anticipate and will increase over time. This would increase the risk that their financials and yours might get mixed up a bit so a separate file would prevent that from happening.

    Also, if you will be acting as a legal Guardian/Custodian or Attorney-in-Fact (POA) for that person, it is paramount that you keep your finances and their's at arms length from each other. You don't want even the appearance of impropriety taking place because that can land you in legal and IRS trouble. The best way to accomplish that is to set up an entirely new and unique data file for that person.

    But if it's just going to be simple tracking of only 1 or 2 accounts, especially if this is for your child, and you won't be wanting to take full advantage of the all reports and tools in Quicken, then simply doing Add Account for those few accounts and and holding them as Separate would probably work well, too.

    Quicken Classic Premier (US) Subscription: R55.26 on Windows 11

  • retird
    retird Member ✭✭✭✭
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    When I needed to set up an account for my mother I created a new data file. Certainly glad I did because when she passed we were set up to add to her data file all the stuff that goes with settling the estate, tracking financial matters,creating paper trails and reports and etc.

    Windows 11 (2 separate computers)..... Quicken Premier.. HAVE USED QUICKEN CONTINUOUSLY SINCE 1985.

  • splasher
    splasher SuperUser ✭✭✭✭✭
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    @QuickUserPSP Obviously, we will have to agree to disagree. Mixing tax entities in the same file, regardless of the number of accounts is a bad practice.

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    I did the same for my mother when she got dementia. I had several years getting her financial affairs in order before she passed away and was all set up and ready to manage her estate after she passed away. If I didn't have a separate file set up to manage all of this it would have made everything much more complex and difficult when emotionally it was more than difficulty enough.

    Quicken Classic Premier (US) Subscription: R55.26 on Windows 11

  • retird
    retird Member ✭✭✭✭
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    The OP has a duplicate thread and I posted over there…… merge is in order I think…

    Windows 11 (2 separate computers)..... Quicken Premier.. HAVE USED QUICKEN CONTINUOUSLY SINCE 1985.

  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta
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    No worries. Having differing opinions is a good thing. Just think how boring life would be if we all agreed with each other all the time.

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited May 5
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    as mentioned - it depends on how you want to handle things…

    I have setup accounts both ways -
    totally different Quicken QDF data file with just the family members I was tracking -
    Also - have our son's checking account in our own Quicken - setup as Separate - that we occasionally add money….

    [EDIT] - @blue730 - also requested Admins either merge your other dup posting - or delete it -

    QWin - R54.16 - Win10

This discussion has been closed.