How do you erase current database

Jeff's Avatar


21 Apr, 2020 03:40 PM

I imported my accounts from Quicken.
Process all screwed up; many accounts have sums that are not the same as the Quicken account I imported from. Many Accounts are mis-represented (Bank vs Asset, etc).
I want to start over and see if I can get things right this time. But every time I open Moneydance, it opens with the same, erroneous data. I have tried deleting the original QIF file that I used for the original import. I have tried uninstalling and then re-installing Moneydance. I still get the program opening up with the erroneous data.

  1. 1 Posted by mhoggie on 21 Apr, 2020 04:03 PM

    mhoggie's Avatar

    just a user,

    Just create a new database file or export your current database with a single day time period and import to a new database file so you can retain all the account files. I've done that type of thing in the past to reduce the size or time periods in a current database file.

  2. 2 Posted by derekkent23 on 21 Apr, 2020 04:09 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Jeff

    To start again click FILE (MONEYDANCE on Mac) – NEW as outlined in the process I have documented below. Take a look, it may help solve some of your issues.


    You need to use Quicken to export your data in a QIF file type. Ensure any closed account that have transfers to any open accounts are included in the QIF file, re-open these accounts if necessary.

    Open the QIF file in a text editor. You are looking for the date format used in the file e.g. D25/03'2019 Day Month Year or D5/ 17'19 or D05/31/2017 Month Day Year etc. You will need this information later. If you get this wrong it will be apparent as the dates in Moneydance will be all over the place and you will need to start again creating a new data set.

    QIF files were never meant for transferring data from one program to another, but it’s all that is available, you will need to spend time cleaning thing up when import is complete.

    When you first start Moneydance it opens in the Welcome window click on “Create a new account set”. If you have opened Moneydance before create a new data set under FILE (MONEYDANCE on Mac) – NEW.

    Select “Create New File” (Data Set) and click NEXT. Type in an Account Set Name (Data Set) and click NEXT. Change Primary Currency (base currency), if required. File Type, leave at “Standard Account set”, click FINISH.

    In the side bar (list on left) under BANK deleted the two default Bank accounts, highlighting them in turn and using ACCOUNT – DELETE ACCOUNT.

    NOTE: If you have accounts with currencies that are not in your base currency (foreign currencies) perform the steps under NOTE 1 before importing your QIF file as follows.

    Drag and dropped the QIF file into the side bar (list on left).
    Waited for import window to appear, this can take a few minutes.

    IMPORTANT: Checked all listed accounts are of the correct type and currency and changed if required.

    The “Date Format” should be set to the date format used in the QIF file not the date format you want to use in Moneydance. Select the correct Decimal Character.

    Click import and waited to account values to file in, again this can take some time, it may appear nothings happening.
    Some accounts maybe hidden under the “+” at the bottom of the side bar, added them back.

    Some QIF files don’t include initial account balances. If you think this is the case you can add initial balance to affected accounts as follows.
    Highlighting an account, then click ACCOUNT – EDIT ACCOUNT and add an Initial Balance.

    For investment accounts QIF file don’t always carry security prices other than buy sell prices, so investment account balances maybe wrong until you update with current security prices.

    Reminder are not included in QIF files.

    Any accounts that are inactive (closed) should be made inactive by highlighting the account in the side bar and clicking ACCOUNT – EDIT ACCOUNT and ticking the inactive box. To remove them from the side bar, right click and select REMOVE FROM SIDE BAR.

    Now the real work starts to check balances and tidy thing up. This is especially true of investment accounts as not all action types are supported. But worth it in the end.

    For information on how to use Moneydance see

    Note 1: This section only applies if you have accounts with currencies that are not in your base currency. For these currencies ensure “Show on summary page” box is ticked under TOOLS – CURRENCIES – highlight subject currency and double click – EDIT.
    Note: QIF file do not contain exchange rates. To overcome this QIF file shortcoming the Currency/Security History window must have current and dated exchange rates filled in which cover the date range of transactions in non-base currency account. As well as manually adding exchange rates you can import CSV exchange rate files downloaded from sites on the web. Use IMPORT button in the Currency/Security History window. If you have investment account their balances will probably be incorrect. This is due to the fact that the currency set in the security history windows will be in the Moneydance base currency. You can change to the correct security currency and provided exchange rates exist the values will be converted. As you do this re-calculation occurs, but I think the results should to be correct. No guarantees the section will work correctly.

    Hope this helps.

  3. Support Staff 3 Posted by Ethan on 21 Apr, 2020 08:11 PM

    Ethan's Avatar

    Just to add to the excellent suggestions above, on your original question about how you delete unwanted data files, please see:

    Infinite Kind Support

  4. 4 Posted by Jeff on 22 Apr, 2020 05:45 PM

    Jeff's Avatar

    OK, thanks to all. This got me going. There are still a few glitches - not all the options described under TOOLS - CURRENCIES show up when I think they ought. But this may be due to the fact I'm still playing with the free version. I appreciate all the help.

  5. 5 Posted by derekkent23 on 22 Apr, 2020 06:14 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Jeff

    Can you detail what you think is missing under TOOLS - CURRENCIES?

  6. Support Staff 6 Posted by Ethan on 22 Apr, 2020 06:26 PM

    Ethan's Avatar

    The free version is exactly the same as the paid version. No functions are disabled or limited. The only limitation is that you can only manually enter 100 transactions before having to purchase a license. I'd also enquire about what you think is missing in this menu that you are expecting to see.

    Infinite Kind Support

  7. 7 Posted by Jeff on 23 Apr, 2020 05:36 PM

    Jeff's Avatar

    The specific problem was that when I followed derekkent23's instructions under Note1 of his post (when I clicked on TOOLS-CURRENCIES), I did not get the “Show on summary page” box or the EDIT option as described;
    The CAUSE for that seems to be that I only get these functions when I open the dialogue on monitor #1 of my multi-screen set-up. I don't know whether that is due to the software or my display options. But once I figured that out, all functionality is available.
    Thanks again to all of you for the detailed info and patient help.

  8. 8 Posted by derekkent23 on 23 Apr, 2020 06:05 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Jeff

    Thank for coming back on the issue you found.

    I don’t have a second monitor so can’t comment on what should happen.
    One for support.

    Have Fun.

  9. System closed this discussion on 23 Jul, 2020 06:10 PM.

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