Closed loans suddenly have balances.

scottmonte

I have closed these three loans, and they had a zero balance. At some point I was fixing some data corruption and probably re-arranged some transfers, but since the loans are closed, I can't go in and re-zero them out??

Quicken Kristina

Hello @scottmonte,

Based on your description of the issue, if a transfer to/from the closed account was deleted or altered, it would impact the balance on the closed account. You should still be able to manually edit the closed accounts though. What happens when you try to edit them?

I look forward to your response!

scottmonte

I can't get to the transaction list, because it is a loan that was previously downloaded I guess? and I can't re-open it.

Quicken Kristina

Thank you for your reply,

If it won't let you edit the loan accounts, then there are a few options. If the primary issue is that they're throwing off net worth calculations, then you should be able to mark the accounts as separate to prevent that. For instructions on marking an account separate, please see this help article.

Alternatively, you could try restoring a backup from before the issue started. That would likely bring back the original data issue you were troubleshooting when this issue appeared though.

A third option, if you don't need those closed loan accounts in your file anymore, would be to backup your Quicken file and delete them. Warning - deleting an account is permanent. The only way to recover an account after it has been deleted is to restore a backup from before it was deleted.

I hope this helps!

scottmonte

Thank you. Is it generally considered good practice to keep closed loan accounts separate? What are the advantages and disadvantages of that?

Quicken Kristina

Thank you for your reply,

Since closed accounts usually have a $0 balance, it's normally a matter of personal preference whether you mark them separate or not. Since the balances on yours changed and it won't let you edit them, marking them as separate should prevent those incorrect balances from impacting net worth and from showing up in reports (by default; it is possible to customize a report to include separate accounts).

The advantage, is in situations like this, you're able to keep the account in your file for reference without having it impact net worth, reports (by default) and certain functions that use historical data. For more information, review this article.

I hope this helps!

scottmonte

To solve this, I created a separate cash account and used it to transfer money to the loans to zero them out. I have marked all of the offending accounts as keep separate.

Quicken Kristina

Thank you for the follow-up,

I'm glad to hear you found a resolution, and thank you for coming back to share the solution you used!

If you need further assistance, please feel free to reach out!