New Quicken File

AlbertoJ

My current Quicken file dates from 2014. I think that I want to have files that are not more than 2 years old (I.E 2026 thru 2027) so I am planning to start a new file on January 2026. I would assume that I can create a new file and the beginning balance will be the "online" balance as of 12/31/25. Is this correct?

Thanks in advance.

RalphC

I would suggest that you don't. My current Quicken data file has 30 years, or so, of data. There's no perceivable performance hit with long term data files. Retaining old data can help when researching financial transactions from the past in a single file. There's really no benefit to having multiple short term data files. Just make sure that you backup often. I manually backup every day.

BK

I would assume that I can create a new file and the beginning balance will be the "online" balance as of 12/31/25. Is this correct?

Yes, that is more or less correct. The starting balance will be whatever the Financial Institution provides to Quicken along with the corresponding transactions. So could be off by a day or two and you can make whatever adjustments you need for a specific date. Once you are confident about the accuracy and satisfied, make sure to write down that opening $ balance in the memo field of every account, because it could get altered unintentionally and throw off your end balance - so having it in the memo field will allow you to correct it if needed.

When I have closed many accounts and some are never needed, I'd like to do a cleanup with a new file, yet I can always refer to the old file when I need to. My approach works for me but it is very tedious and time consuming to get it 100% because I do import my live investment transactions to the new file. The challenge is addressing the transactional links and transfers between the accounts if you decide to import some of the transactions. I joined in 2010, started a new file in 2020 and planning for another new one in 2027.

Ducksoup_SD

Take a look at the Year-End Archive under File→Copy or Backup File… You can save all your old data, as is, in a file and start a new file, going forward, from a date you specify. I do that every year — I keep a couple of years in the new file and drop off the old one. It maintains all of your investment data for taxes and analysis - In my current file, I can see all the data back to when I converted my 401k to an IRA 20 years ago. That way, if there's a problem with an entry in the last couple of years, I have it easily available and all of my old transactions are still available for viewing, if necessary. Given the size of my data file for a couple of years, I'd disagree that having 30 years worth in a file doesn't impose a performance hit when doing file operations. While you may not choose to keep a yearly archive like me, the process is easy (as always, make a backup first, just in case!) and you don't have to start a new file from scratch. I have discovered that, recently, Quicken will sometimes add in a correction for the balance that messes things up, but that only seems to happen on my checking account where there are scheduled transactions. So, double check any accounts with scheduled transactions to confirm that the new file contains the same starting balance as the archive file's final balance. On the belt-and-suspender side, I'm keeping PDFs of year-end reports, so if Quicken goes off the rails somehow, I'll still be able to see the yearly data.