importing QIF files

Todd Kitten's Avatar

Todd Kitten

19 Nov, 2021 07:55 PM

Hi,
I thought it would be fun to start keeping track of investment accounts in MoneyDance and Fildelity allows me to export files in QIF format. The problem is, unlike my bank and credit card transactions, which seem to be handled correctly, almost every transaction is treated as a loss, although not all of them because my balance wouldn't be correct if I removed the negative sign. I see that the QIF file is human readable and looks like it could be pretty easily edited. Most of my transactions are contributions and they come looking like this:

D06/01/2004
NBuy
YFID DIVIDEND GR(0330)
I27.42000
Q0.365
U10.00
T10.00
MContributio

However, under the "Action" heading, they're listed as "Buy" and treated as aan expense even though the description and memo are listed as "Contribution." Dividends are also listed as debits. Do you have any suggestions for this? I've seen questions posted about QIF imports on this site, but not many answers.

  1. 1 Posted by dwg on 19 Nov, 2021 08:07 PM

    dwg's Avatar

    I'm a fellow user.

    Moneydance can only do what the transaction tells it to do.

    The example you have given tells Moneydance that is is a buy transaction of security called FID Dividend GR(0330) at a price of 27.42 a quantity of .365 for an amount of 10 and the memo is contributio

    and this is what Moneydance will do drawing on the account for 10 to pay for it.

    There is no other way for Moneydance to handle this transaction. I would hope there is another transaction in the QIF file to get the money into the account to facilitate the buy, whether it is a dividend or a transfer etc.

  2. Support Staff 2 Posted by Ethan on 22 Nov, 2021 02:33 AM

    Ethan's Avatar

    Hello,

    I agree with the above assessment. From the snippet you provided, this appears to be a poorly formatted QIF file. Perhaps there are some operations one could do if there was at least some consistency in how it was incorrect, like if all the values were reversed, but you seem to say that this isn't the case. You can try posting more of your QIF file to see if anything further jumps out to anyone, but Moneydance can only work with the data that is given to it You may need to contact your bank to let them know they are misformatting their data, and see if you can find an IT person who understands you and has the ability to fix it.

    Ethan
    Infinite Kind Support

  3. 3 Posted by Todd K. on 27 Nov, 2021 02:35 AM

    Todd K.'s Avatar

    OK. Thank you to both of you. One would think Fidelity would know how to
    handle this, but apparently not. I will contact them and see what they say.
    Thanks again.
    -Todd

  4. 4 Posted by sth on 27 Nov, 2021 06:20 PM

    sth's Avatar

    @Todd, Note that is a very old transaction from June 2004!

    Fidelity has a simplistic view of breaking up a dividend reinvestment into two transactions, a dividend and a buy. These are two separate transactions on the same security with the memo field as "REINVESTMENT".

    I have had no problems downloading investment transactions from Fidelity as direct connect instead of as a QIF file.

    (Not IK support)

  5. System closed this discussion on 26 Feb, 2022 06:30 PM.

Comments are currently closed for this discussion. You can start a new one.

Keyboard shortcuts

Generic

? Show this help
ESC Blurs the current field

Comment Form

r Focus the comment reply box
^ + ↩ Submit the comment

You can use Command ⌘ instead of Control ^ on Mac