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Migrated from Cadence to Huntington, but had to add some accounts as new

Quicken Kristina

This discussion was created from comments split from: Candence to Huntington Conversion in OSU.

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brhutch

Ok thanks for the discussion. However I did as indicated to migrate the Cadence to Huntington, but it didn't go as easy. I have three accounts. The main checking was linked to my Cadence checking. But my other two accounts did not show as possible accounts. So I just added them as new accounts. Now the simple question is what can I do with the balances in the old Cadence accounts to zero them out and continue with the Huntington accounts?

Quicken Carlos

Hi @brhutch,

Thanks for reaching out to the Quicken Community and for trying the previous troubleshooting steps.

Before following any troubleshooting steps, I recommend creating a backup of your data file.

To zero out the accounts, I suggest closing them. When an account is closed, Quicken will automatically add an adjustment transaction to bring the balance to zero. If the account is connected, it will be disconnected from online services and moved to the Hidden Accounts group.

To close an account:

Select Tools > Manage Hidden Accounts.
Select one or more of the following options:
- Hide in Account Bar and Account List
- Hide in Transaction Entry Lists
- Keep This Account Separate

Select Mark as Closed to confirm closing the account.

If you do not want to close the account, you can manually enter an adjustment transaction for the exact difference needed to bring the account balance to zero.

Let us know how it goes. I look forward to your reply!

brhutch

Ok I've never done this. So if I close it will it show the balance of the account as income or a debit? And if I do a transfer of the old account to the new account I assume the balance in the new account will double. Right?

Quicken Carlos

Hi @brhutch,

Thank you for your reply.

Closing the account will not record the balance as income or an expense. When you mark an account as closed, Quicken creates an adjustment transaction to bring the account balance to zero and then moves the account to the Hidden Accounts group.

If you have already transferred the assets or cash from the old account to the new account, you should not enter an additional transfer transaction, as doing so could cause the balance in the new account to be overstated or duplicated.

Before closing the account, I recommend reviewing both accounts to confirm that all expected transactions, holdings, and cash balances have already been transferred correctly. Once you have verified everything is accurate, you can close the old account.

I suggest reviewing our support article for more details:
https://info.quicken.com/win/when-should-i-close-an-account

I hope this helps! Let me know if you have any other questions.

brhutch

Ok I closed my old checking account, but I noticed that when trying to total my cash balance of all of my accounts the old checking account does not show up as a hidden account. So the historical total is off by the balance of the old account. Is this typical closing the account?

Quicken Carlos

Thanks for your reply, @brhutch.

I suggest manually marking the closed account as hidden.

To do so:

Open the closed account.
Click the Gear icon in the upper-right corner.
Select Edit Account Details.
Go to the Display Options tab.
Check the boxes for Keep this account separate and Hide this account.
Click OK to save your changes.

I hope this helps!

Quicken Carlos

Hi @brhutch,

I just wanted to follow up since I haven’t heard back from you. I’m checking in to see if you still need assistance.