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There really isn't a simple "hide account" option any more. Users have to get familiar with what the three choices on the Display Options tab in the Edit Account Details do. Two of the three account Display Options should be self-explanatory:
- "Hide in transaction entry lists" (the dropdown lists that appear in the Account column when an account can be selected in a transaction, for example (such as in the All Transaction pseudo-register)
- "Hide account name in account bar and account list"
The third "hide account" option may not be as self explanatory, but it must be understood before users complain about Quicken's failure to "hide" an account when the user thinks it should be hidden.
- "Keep this account separate-account will be excluded from Quicken reports and features"
That third hide account option seems to be often overlooked, though it is also often the option that users expect "hide account" to mean.
As to "closing" a Quicken account: the only "hiding" that does is "Hide in transaction entry lists" - more often that not (in my observation), not what the user expects. "Closing" a Quicken account does not "Keep this account separate ...." - the user will have to manually choose that option.
[There is at least one user with a relatively current Community discussion who thinks that "Closing" a Quicken account will (should) remove that account from all Investing > Portfolio views (the choices in the Portfolio "Show" drop down). There are two mistakes in that assumption. First: each of the individual Investing > Portfolio views is independently customized - customizing one View will have NO effect on any other View. Which is not only an intentional Quicken treatment; but, in my view, exactly the way those individual Views should be treated. Secondly: "closing" a Quicken account (as explained above) will NOT remove that account from Quicken reports or features. The Quicken Investment > Portfolio views are Quicken "features": hence, a closed Quicken account will still appear in every Portfolio view in which it was selected before the account was "closed".]