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.
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. Export everything Quicken export will allow.
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.
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.
Wow... Thanks for the info. I wish I had it before I started entering current information.
Reading thru the instructions it looks like the download may change all the current information entered.
Do you know if anyone had tried to transfer files in after they have started using the program?
I started entering everything manually starting with May 1, 2020. I was hoping to get all of 2020 entered.
Thanks again for your help.
On Thursday, May 28, 2020, 03:19:27 PM EDT, derekkent23 <[email blocked]> wrote:
If you have some manually entered transactions then import QIF files obtained from Quicken the most likely outcome is that you will have some duplicate transactions that you would need to attend to - mostly likely by deleting some transactions, There is a merge process but it should not come into play with the Quicken data, and you would probably not want it to since that process would need to think the data has been downloaded from a bank and it would therefore ignore all category information that is in the file.
You could simply start another data set under FILE (MONEYDANCE on Mac) – NEW using another name and then import your QIF file.
Then you have the option of working on the data set created by the QIF import or using FILE (MONEYDANCE on Mac) – OPEN to return to the data set you have been working. The two data sets are completely separate from each other.