Closing an account #

When you close a credit card, pay off a loan, or your mortgage gets sold to another servicer, that account is no longer part of your finances going forward. Marking it as closed in Piere keeps your history intact while stopping the account from counting toward your net worth from the close date onward.

This is different from hiding an account. Hiding is for accounts you don’t want to see, like a joint card or a business account. Closing is for accounts that genuinely ended on a specific date.

How do I close an account? #

• Open the Institutions page (Profile > See all institutions), tap the institution, then tap the account you want to close.
• Scroll to the bottom of the account page and tap Close account.
• Piere shows you a summary of what closing does, along with two fields:
  • Closed as of is the date the account stopped being active. Piere prefills this with the date your account data last updated, which is usually the right answer. Change it if you know the actual closing date.
  • Final balance (optional) is the balance the account ended on. Add it if the last balance Piere received was not the final one, such as a loan that was paid off after your bank stopped reporting.
• Tap Close account to confirm. The account page then shows Closed as of with your date.

What happens when I close an account? #

• Your net worth keeps the history. Everything up to the close date stays in your net worth, so your past trends are unchanged. After that date, the account stops counting.
• Balance data after the close date is removed. If your bank reported balances past the date you chose, Piere clears them so the account doesn’t appear to still be active. This is restored if you reopen the account.
• Transactions and budgets are not affected. Past transactions stay searchable and keep counting in your budgets and reports for the months they happened in.
• Your bank connection stays untouched. Closing an account in Piere does not disconnect the institution or affect the other accounts under it.

Because a closed account is finished, you cannot edit its balances. If you need to correct the ending balance, reopen the account, make the change, then close it again with the correct final balance.

How do I reopen an account? #

• Go back to the account page (Profile > See all institutions > institution > account).
• Tap Reopen account.
• The account counts toward your net worth again, any balance data that was recorded after the close date comes back, and the final balance you entered is removed.

Should I close an account or remove the institution? #

• Close the account when it ended on a date and you want to keep its history. This is the right choice for paid off loans, sold mortgages, and cancelled cards.
• Hide the account when it is still active but you don’t want it in your budget or net worth. See Hiding an Account.
• Remove the institution when you want to disconnect the bank from Piere entirely. This affects every account under that institution.

If an account closed at your bank but still shows as active in Piere, closing it here is the fastest way to keep your net worth accurate.