can i import old data

Sara Jane's Avatar

Sara Jane

05 Dec, 2019 01:04 AM

Hi. I am looking for a new program to replace my years old Microsoft Money. I have YEARS of data that I still search fairly regularly. For instance, when did I buy that washing machine and how much did I spend. Is it possible to import data from MM into Moneydance?

  1. 1 Posted by -Kevin N. on 05 Dec, 2019 02:05 AM

    -Kevin N.'s Avatar

    Hi Sara,

    It may not be a trivial task if your finances are complex but yes, it can be done.
    Look to the following Moneydance KB article for instructions.
    https://infinitekind.tenderapp.com/kb/importing-data-from-other-pro...

    If I may make a suggestion, download the trial version of Moneydance to see if you can successfully import your MS Money data and to see if Moneydance suits your needs.
    You can d/l the trial version here:
    https://infinitekind.com/download-moneydance-personal-finance-software

    I keep a version of MS Money running in parallel to Moneydance. I think that some of the reporting is a little better in MS Money.

    -Kevin N. (not a member of MD support)

  2. 2 Posted by saintpauligirl on 05 Dec, 2019 02:35 AM

    saintpauligirl's Avatar

    Thank you, Kevin. I will look into it. My problem is that my MS Money is on an old computer and I have been working on a new laptop, so I’m double entering things into the old computer and the new. I’d like to save the data from MS Money and only use it for reference.

     

    Sara Jane

  3. 3 Posted by dantdavis on 05 Dec, 2019 05:28 AM

    dantdavis's Avatar

    If you can, export your MS Money data as a single QIF file, and import it into the trial version of moneydance. That will give you an idea of how close (or far) you are in such a transition.

  4. 4 Posted by dwg on 05 Dec, 2019 05:49 AM

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    A fellow user in the UK moved from MS Money and has written some detailed information on the move, you may want to read what he has written:

    https://infinitekind.tenderapp.com/discussions/switching-from-another-personal-finance-program/15059-microsoft-money#comment_47844122

  5. Support Staff 5 Posted by Maddy on 05 Dec, 2019 11:36 AM

    Maddy's Avatar

    Hi Sarah,
    Thank you for contacting Moneydance support.

    I can see you’ve received some replies from our knowledgeable Moneydance customers.
    To add to this useful information, it might be work mentioning that you can download the trial version of Moneydance from our website on this page.

    The trial version is fully functional and allows you to manually enter 100 transactions. Imported transactions are not limited, so you'll be able to fully test downloading data from your bank, and importing data from other personal finance software.
    If you decide to purchase the program at a later date you can keep all data you have entered during the trial period.

    You can find the Moneydance Knowledge Base here which will be useful if you're using the program for the first time.


    Finally, You can definitely import from Microsoft Money.
    To do that, you have to export one QIF file per account, you cannot export all data in a single QIF.

    You need to use your old program to export your data in a QIF file type, one QIF file for each account, including any closed accounts that have transfers to any open accounts, re-open these accounts if necessary.
    Open one of the QIF files 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 things up when the import process 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, delete the two default Bank accounts, highlighting them in turn and using Account--> Delete Account.
    Select one of your QIF account files, the one with the most transfers to other accounts.
    1. If in step 3 you don’t see the name of the account you are importing click Cancel and setup the account. Account--> New Account - select account type – Next – Enter the name of the account exactly as it appears in your old program under “Account Name” – OK.
    2. Drag and drop the QIF file into the side bar (list on left).
    3. Waited for import window to appear, this can take a few minutes.
    IMPORTANT: Check all listed accounts are of the correct type and currency, and apply changes, if required.
    4. Find the name of the account you are importing in the list and highlight it.
    5. 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.
    6. Select the correct Decimal Character. Do not tick “File was downloaded”.
    7. Click import and wait for account values to appear. Again this can take some time!.
    Accounts that have transfers within the QIF file you imported will be automatically created. Don’t worry it their balances are incorrect, as you import the other QIF account files things will sort themselves out.

    Some accounts may be hidden under the “+” at the bottom of the side bar, added them back.
    Repeat the process steps 1 to 5 for each QIF account file.
    Some QIF files don’t include initial account balances. If you think this is the case, you can add the "Initial balance" to affected accounts, as follows.
    Highlight 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 may be wrong until you update with current security prices.
    - Reminders 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.
    Finally , you would need to check balances and tidy things up

    --
    Maddy, Infinite Kind Support

  6. 6 Posted by rkmt on 05 Dec, 2019 06:22 PM

    rkmt's Avatar

    I just went through this procedure of moving from MS Money myself and yes it is certainly possible. I started a new file in Moneydance from this quarter, cleaning up all my dead accounts that existed in Money as I went along and getting a clean fresh start. Then I created a new archive file in Moneydance into which I imported all my old Money archive, some twenty years worth. So if I need to search for any old purchases or whatever, I can simply open up that archive file and search. It took only a few hours in total to do all this and check everything was there. Good luck!

  7. System closed this discussion on 05 Mar, 2020 06:30 PM.

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