Cannot Close Savings Goal

The MergThe Merg ✭✭✭Member ✭✭✭
edited March 2017 in

Does Quicken 2016 not have the ability to close Savings Goal accounts? I am using Q2016 H&B R6. When I had Q2013, after a Savings Goal was completed, I could close the account out. It looks like now I can only Hide it from view. 

- Merg

Comments

  • Howard RoarkHoward Roark ✭✭✭✭ Member ✭✭✭✭
    edited August 2016
    You can't close a savings goal in any version of Quicken - including Q2013 (which, I believe, was the first version to offer the "Close" account option).
  • ronhall42ronhall42 ✭✭✭ Member ✭✭✭
    edited March 2017
    You    don't want to close it; rather, withdraw all the funds, and then delete the account (or leave it open, it doesn't really matter .)  I assure you bad things can happen with SG's if you don't use the contribute/withdrawal method of moving funds to/from the SG account.
  • The MergThe Merg ✭✭✭ Member ✭✭✭
    edited March 2017
    Okay, I see what the issue is. My previous Savings Goals that I had in Quicken were given the account type of Asset. I guess when I upgraded to Q2013, it made my Savings Goals into asset accounts. I just looked back at all my previous Savings Accounts and they are all listed as Asset Accounts. When I initially created them in Quicken, I had selected that they were savings goals and used the contribute/withdrawl method for adding/removing funds.

    - Merg
  • The MergThe Merg ✭✭✭ Member ✭✭✭
    edited July 2016
    ronhall42 said:

    You    don't want to close it; rather, withdraw all the funds, and then delete the account (or leave it open, it doesn't really matter .)  I assure you bad things can happen with SG's if you don't use the contribute/withdrawal method of moving funds to/from the SG account.

    I don't want to delete the account as the contributions and withdrawls then show up in the parent account as transfers to an unknown account. I'll just use the option to Hide the account completely. It shows up in the "Other Accounts", but that's fine then. As for the contribute/withdrawl method, that is all I use for adding/removing funds from savings goal accounts.

    - Merg
  • ronhall42ronhall42 ✭✭✭ Member ✭✭✭
    edited December 2016
    ronhall42 said:

    You    don't want to close it; rather, withdraw all the funds, and then delete the account (or leave it open, it doesn't really matter .)  I assure you bad things can happen with SG's if you don't use the contribute/withdrawal method of moving funds to/from the SG account.

    If you do the contribute/withdrawal, to zero out t he SG account then your deleting it doesn't cause transfer issues.  Deleting SG's with monies in the goal will cause the transfer issues as you have seen.  Like I said:  "I assure you bad things can happen with SG's if you don't use the contribute/withdrawal method of moving funds to/from the SG account. "  And I'll include "to zero the account."
  • The MergThe Merg ✭✭✭ Member ✭✭✭
    edited July 2016
    ronhall42 said:

    You    don't want to close it; rather, withdraw all the funds, and then delete the account (or leave it open, it doesn't really matter .)  I assure you bad things can happen with SG's if you don't use the contribute/withdrawal method of moving funds to/from the SG account.

    Hmmm... With my goal, it is zeroed out, however, when I went to delete it, I got the warning about the unknown transfer account. Do you still get that warning if the account is zeroed out? If I remember the text correctly, it seems that it will change the savings goal entries in the account to these unknown transfers.

    - Merg
  • ronhall42ronhall42 ✭✭✭ Member ✭✭✭
    edited December 2016
    ronhall42 said:

    You    don't want to close it; rather, withdraw all the funds, and then delete the account (or leave it open, it doesn't really matter .)  I assure you bad things can happen with SG's if you don't use the contribute/withdrawal method of moving funds to/from the SG account.

    The funds in the SG are retained by source account so to completely zero out a goal account you must remove the money by source and zero that amount.  I am quite sure if they are zeroed exactly, there will be no transfer warnings.
  • The MergThe Merg ✭✭✭ Member ✭✭✭
    edited July 2016
    ronhall42 said:

    You    don't want to close it; rather, withdraw all the funds, and then delete the account (or leave it open, it doesn't really matter .)  I assure you bad things can happen with SG's if you don't use the contribute/withdrawal method of moving funds to/from the SG account.

    Okay, but do the entries then appear in the source account? Part of the benefit of using a savings goal account is that you can "hide" the transactions in the source account. If you delete the savings goal, do those transactions suddenly become visible or do they just disappear?

    - Merg
  • ronhall42ronhall42 ✭✭✭ Member ✭✭✭
    edited December 2016
    ronhall42 said:

    You    don't want to close it; rather, withdraw all the funds, and then delete the account (or leave it open, it doesn't really matter .)  I assure you bad things can happen with SG's if you don't use the contribute/withdrawal method of moving funds to/from the SG account.

    Disappear .................meaning "They are gooooone!"
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