Managing Quicken files

Your Quicken data file holds all your account information, just as a file folder holds your paper banking or brokerage statements. In most cases, you'll only need one data file. When you enter information for all your accounts in this one file, the accounts can share the same categories, tags, and memorized payees. When you create a report, you can choose to show data from a single account or from all accounts in the file. You can also transfer amounts between accounts in the same file.

What can I do?

Frequently asked questions

• What's the best way to separate my accounts?

  There are two ways to separate your accounts: You can create several accounts in a single data file and customize Quicken to show you just the accounts you want to see at any one time, or you can create separate data files. Unless you have a good reason to create separate data files, creating separate accounts in a single data file is usually the best option.

  With a single data file, you can see the relationships between accounts, such as transfers and deposits, and you can see an overview of your finances in one place. If there is any chance that you will ever want to track accounts together, you should create them in a single data file because it isn't possible to merge data files at a later date.

  With a single data file, it is also possible to create reports or view net worth measures that exclude certain accounts, like those of a spouse or other family member. To exclude accounts and their transactions from the Account Bar, reports, and the Property & Debt tab, simply customize Quicken to hide the accounts you don't want included at any one time. The accounts will stay hidden until you unhide them.

• When should I create more than one Quicken data file?

  Create additional data files only when the data needs to be separated. For example, if you keep your home finances separate from your business finances for tax reasons, or if you maintain the books for a volunteer organization or for a friend or relative.