How to Use the Quicken New Year Command

This tutorial is for earlier versions of Quicken. If you have a newer version, creating the New Year feature has been replaced with Create a Year End Copy/Archive.

When you create a New Year file, Quicken makes a backup of your current data file, then removes all data before a particular date from the current file.

Once a Quicken New Year file is created, your current data file will include only transactions that occur after the date you specify (usually the first of the year) while retaining all investment and unreconciled transactions. If you use Quicken Home and Business, all unpaid transactions will be saved as well as invoices linked to payments that fall within the new date range.

Start the New Year File Process

Quicken New Year file option
Selecting the New Year file option in early versions of Quicken personal finance software. Qioclem

Before creating the New Year file, it's imperative that you reconcile all accounts, otherwise all unreconciled transactions created before the date you specify for Quicken New Year file will not be split off.

Start the New Year File Process

  1. Click on the File menu, File Operations.
  2. Select Year-End Copy.
  3. Select Start New Year and click OK.

Set the File Name and Location

Quicken New Year function

Enter a file name for the Year-End Copy file. Don't include an extension (.QDF) because Quicken will automatically apply for the correct file extension. If you're not sure where to change the file name, then read the instructions for naming a Quicken archive file.

Lastly, click on the Browse button to change the file location from the default.

Choose the Date for the New Year File

Selecting a date for the Quicken New Year file.

To specify the start date for the new file, either accept the Quicken default entry (January 1 of the last or, the current year) or change the date by either clicking in the date box and entering a new date or clicking on the calendar symbol to the right of the date box. Use the arrows on either side of the month in the calendar to navigate forward and back through the calendar. When you get to the month you want, just click on the day of the month that you want to select for your new Quicken data file, which is the file you will be using every day.

Save and Check the Quicken New Year File

New Year file successfully copied in Quicken

After the New Year file has been created, Quicken will ask you if you want to use the old file or the file for New Year. Remember, your previous data file is now the backup file, it's the old file. Next, select and click OK.

Check the registers in the New Year file to be sure that all old transactions have been removed according to your specifications in earlier steps in this tutorial. If you find that some transactions remain, it’s probably because of the previous year's transactions, or transactions up to the date you specified in the New Year File setup, where not reconciled. If this happens, you'll need to open the backup file (the old file), reconcile your accounts, and go through this tutorial again, starting with Step 1.