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What is the difference between a backup, a copy, and a year-end archive?

A complete backup is a full and exact copy of your file. The purpose of a backup is to give you the ability to restore your data if for any reason your active Quicken file becomes unusable. It is an important way to protect your financial data. A complete backup should be performed regularly.

A copy is a version of your file that is for informational or other purposes. You can use it to review older transactions, to work with specific data, or as a template for creating a new data file. You can choose to copy all of your data or just the data related to a specific date range. One of the key differences between a complete backup and a copy is that copies are not meant to be used with live data. This is why copies are automatically disconnected from your online accounts. You can reconnect your accounts, but Quicken begins with these accounts disconnected to prevent any issues between your current data file and the copy.

A year-end archive is a copy of your file created for the specific purpose of storing your older data. Many users choose to archive each year of transactions and remove those transactions from the current file. This can be helpful for keeping records and for keeping the current file smaller and easier to work with.

When should I choose to make a complete backup?

Making a complete backup is usually your best option. It creates an exact copy of your current file that can be used to restore your data if your current file becomes unusable for any reason. The file you create is specifically for backups. it does not have the same file extension as your current file so you cannot confuse it with a standard file. To use a backup in Quicken, you must use the Restore process. This prevents you from mistaking a backup for your current file. 

Backups are designed to replace your current file if an issue arises. That is why, other than having to be added through the Restore process, it is an exact copy of your current file (as of the time you made the backup) so you can get up and running quickly. When in doubt, choose to make a complete backup.

For more information see How do I back up my Quicken data file?

When should I choose to create a copy or template?

One of the Advanced Options is to Create a copy or template. Use this option if you want to create an archive of your current file or create a template you can use to start a new file that still has your existing account information. This is a useful option if you want to work with a specific date range of transactions. You can also use this to archive data. 

When you create a copy or template, the copy is automatically disconnected from your online accounts. This is to prevent accidentally downloading new data to an archive, which can cause confusion and possibly download issues. You can reconnect your accounts if needed, but Quicken begins with these accounts disconnected to prevent any issues between your current data file and the copy.

For more information see How do I copy a Quicken data file?

When should I choose to create a year-end archive?

One of the Advanced Options is to Create a year-end archive. This is the best option if you want to move transactions from your current data file into an archive. For most people, it is best to keep only a year to two years of data in the current file, so that Quicken can work with the data quickly and efficiently. 

When you create a year-end archive, the archive file is automatically disconnected from your online accounts. This is to prevent accidentally downloading new data to an archive, which can cause confusion and possibly download issues. You can reconnect your accounts if needed, but Quicken begins with these accounts disconnected to prevent any issues between your current data file and the archive.

For more information see How do I archive Quicken information at year's end?