Imports, Cost

Myrna Taylor's Avatar

Myrna Taylor

22 Nov, 2019 06:19 PM

I have three questions: (1) Is the $49.00 cost a one-time fee, or is it a "subscription" (the reason I am leaving Quicken)? (2) Will MoneyDance import my Quicken .qdf file? and (3) What format is required for downloading online banking transactions (i.e., Quicken uses .qfx)?

  1. 1 Posted by derekkent23 on 22 Nov, 2019 06:54 PM

    derekkent23's Avatar

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

    (1) one-time fee, for more details see below. Some users on this site still haply useing Moneydance 2011.
    (2) Only Quicken can read qdf files, no other software can. You next to export a .qif file, see below.
    (3) Moneydance can import , QFX, OFX, OFC or QIF files (aka Quicken or MS Money files) as well as Direct connect see https://infinitekind.tenderapp.com/kb/online-banking-and-bill-pay

    Try it out for yourself.

    The downloaded version of Moneydance is a full working version with the only limit being a maximum of 100 manually entered transactions, with no time limit. Imported files from other financial programs and your bank have no limit on imports, provided that you do not confirm them. If you decided to purchase you are sent a key by email that unlocks the 100-manual transaction limit. If after testing with this free trial version you purchase and change your mind see the 90 day money back guaranty at https://infinitekind.com/refunds
    For the future Moneydance never sunsets the version it releases. So, you don’t have to upgrade. If you won’t to upgrade the next version is free (say 2017 to 2019) and from then on you get a 50% discount. All upgrades within a version are free.

    Make sure you are running this build of Moneydance https://infinitekind.com/preview

    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. Do not tick “File was downloaded”.

    Click import and waited to account values to file in, again this can take some time.
    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 https://infinitekind.tenderapp.com/kb

    Note 1: This section only applies if you have accounts with currencies that are not in your base currency. 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.

  2. 2 Posted by edleaders.mt on 06 Dec, 2019 11:06 PM

    edleaders.mt's Avatar

    All I got was this automated response. I would like answers to my questions so I can make a decision whether or not to buy.

     

    From: Infinite Kind <[email blocked]>
    Sent: Friday, November 22, 2019 12:22 PM
    To: [email blocked]
    Subject: Your support request has been received by The Infinite Kind

     

     <https://infinitekind.com>

    The Infinite Kind technical support: infinitekind.com/help <https://infinitekind.com/help>
    email: [email blocked]

     

    Hello Myrna Taylor!

    This is an automated response to let you know that we've received your request:

    Imports, Cost

    and will respond as quickly as possible. Answers to many common questions can be found in our knowledge base <https://infinitekind.tenderapp.com/kb> and user guide <https://infinitekind.tenderapp.com/kb/user-guides/moneydance-2015-user-guide> .

    Based on your support request, we think you may find the following articles from our FAQ helpful:

    * Lots vs Average Cost Purchases <https://infinitekind.tenderapp.com/kb/investment-accounts/lots-vs-average-cost-purchases>
    * Importing From Quicken Essentials <https://infinitekind.tenderapp.com/kb/importing-data-from-other-programs/importing-from-quicken-essentials>
    * Importing From Reckon Personal Plus <https://infinitekind.tenderapp.com/kb/importing-data-from-other-programs/importing-from-reckon-personal-plus>

    We'll send an email to you (at [email blocked]) when we update your support request. Alternatively, you can keep track of this conversation online <https://infinitekind.tenderapp.com/discussions/switching-from-another-personal-finance-program/15113-imports-cost> .

    Thanks again!

    Sincerely,
    The Infinite Kind

     

    Be a part of the Community: Blog <https://infinitekind.com/blog> | <https://twitter.com/theinfinitekind> | <https://facebook.com/MoneydanceApp>

     

    You have been sent this message because you recently opened a help request with The Infinite Kind.

  3. 3 Posted by dantdavis on 07 Dec, 2019 01:27 AM

    dantdavis's Avatar

    (1) Is the $49.00 cost a one-time fee, or is it a "subscription" (the reason I am leaving Quicken)? (2) Will MoneyDance import my Quicken .qdf file? and (3) What format is required for downloading online banking transactions (i.e., Quicken uses .qfx)?

    I think derekkent23 answered your questions, but you may have missed them:

    (1) one-time fee, [WITH UPGRADE FEES EVERY COUPLE YEARS]. Some users on this site are still happily using Moneydance 2011.
    (2) Only Quicken can read qdf files, no other software can. You next to export a .qif file, [MORE DETAILS AVAILABLE ON HOW TO DO THIS]
    (3) Moneydance can import , QFX, OFX, OFC or QIF files (aka Quicken or MS Money files) as well as Direct connect see https://infinitekind.tenderapp.com/kb/online-banking-and-bill-pay

    Hope me pulling those out from his long (and lots of information) message helps.

  4. 4 Posted by derekkent23 on 07 Dec, 2019 08:17 AM

    derekkent23's Avatar

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

    Take a look at this post to you on Nov 22

    see https://infinitekind.tenderapp.com/discussions/switching-from-another-personal-finance-program/15113-imports-cost#comment_47862172

    Hope this helps.

  5. 5 Posted by Myrna Taylor on 08 Dec, 2019 12:44 AM

    Myrna Taylor's Avatar

    Sorry! I was expecting an email. I have been out with the flue and foot surgery for a month, so lost track of things. Thanks for helping me out!

  6. 6 Posted by edleaders.mt on 08 Dec, 2019 12:56 AM

    edleaders.mt's Avatar

    From: Myrna Taylor

    Sorry! I was expecting an email. I have been out with the flue and foot surgery for a month, so lost track of things. Thanks for helping me out!

  7. 7 Posted by derekkent23 on 08 Dec, 2019 09:19 AM

    derekkent23's Avatar

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

    Just for information, as well as replies to your post being on the forum each one would be sent to you as a email. Check you junk mail\trash bin etc.

    Have Fun.

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