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Trying after many years using Quicken I need to make it easier for my wife.

gomar

I want to quit tracking Fidelity and Edward Jones brokerage accounts. They have become too hard to provide accurate information. I only want to track financial information for income and expenses, but also set up three accounts that would represent brokerage accounts where I write a check or transfer funds into credit cards or banks. I would just save the brokerage accounts in the file but not have them part of my everyday business. I hope someone has some suggestions.

Thank you

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Sceptic

@gomar If I understand correctly, it sounds like you're looking to stop tracking the investment holdings and transactions in the Fidelity and Edward Jones accounts while still maintaining accounts in Quicken that can be used for recording checks and transfers.

One approach might be to keep the existing investment accounts in the file for historical reference and hide them from everyday use, then create separate cash accounts to represent the brokerage accounts for transfer and payment purposes.

Before suggesting a more specific setup, could you clarify what you mean by "set up three accounts that would represent brokerage accounts"? Are you thinking of creating cash/checking-type accounts to record money moving to and from the brokerages, or are you looking for some other arrangement?

Chris_QPW

Sounds like you just want to change to Simple investing mode.

dblski

This is exactly the best option per Chris_QPW. Change the investment accounts to download in Simple investing mode, and it will just pull down your portfolio holdings and skip all the individual transactions. That way, you will have the value of those investment accounts without having to do the individual transaction reconciliation.

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gomar

My idea was to do as you suggested. I write checks and makes cash transfers form time to time and I would like to be able print year end reports that some of these transactins I would like to be able to summarize for tax purposes. Would you be able to give me some details about keeping accounts for historical referenc3e4 but keeping them hidden for everyday use?

Thanks for clarifying what I had in mind but did not really know what to do.

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gomar

Thanks for commenting. I tried using simple investing mode; it still left things too complicated. I am going to try just using some dummy cash accounts to get the information I am looking for in various reports I use at tax time. Requires some manual work but keeps Quicken cleaner.

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Sceptic

@gomar Thanks for the additional details. That helps me better understand what you're trying to accomplish.

If your primary goal is to record checks, cash transfers, income, expenses, and generate year-end reports, one approach would be to keep your existing Fidelity and Edward Jones investment accounts in the file for historical reference, but hide them from your day-to-day views. That preserves all of your historical investment data should you ever need to review it later.

You could then create separate cash accounts to represent the brokerage accounts and use those accounts to record checks, transfers, and other cash movements. Since those transactions would be recorded in the cash accounts, they could be included in your reports and used for year-end tax summarization.

To keep the historical investment accounts out of the way, you can edit each account's display settings and select options such as hiding the account in account lists or sidebars while retaining it in the file. That allows you to preserve the historical information without having the accounts appear as part of your regular workflow.

Before getting into the specific steps, are the Fidelity and Edward Jones accounts currently connected for downloading, or are they already manual accounts? That detail may affect the best way to transition to the simpler setup you're envisioning.