Importing data from another app

Paul Huff's Avatar

Paul Huff

24 Jun, 2022 09:44 PM

I currently use See Finance on a Mac computer but I am considering switching over to a new Windows machine and running Money Dance on it. Can Money Dance import the See Finance files directly? If not, can it read the CSV or QIF files that See Finance can export?

Thank you.

  1. 1 Posted by dwg on 24 Jun, 2022 10:03 PM

    dwg's Avatar

    I'm a fellow user.

    Generally each Financial Management software product uses a proprietary format for storing its data which rival vendors cannot read.

    Again in general terms the format used to migrate to a different vendors products is the QIF format. This format contain the raw transactions.

    So if you can export you data in the QIF format Moneydance should be able to read it. I would suggest you download Moneydance install it and give it a test drive in Trial mode. This mode is fully functional and has no limits on imported data, so you can give it a thorough test. The limit in trial mode is 100 manually entered transactions.

  2. 2 Posted by Paul and Sue Hu... on 01 Jul, 2022 09:48 AM

    Paul and Sue Huff's Avatar

    Thank you for your information. It confirms what I suspected.

    Sent from my iPad

  3. Support Staff 3 Posted by Maddy on 01 Jul, 2022 10:11 AM

    Maddy's Avatar

    Hi Paul,
    Thank you for contacting Moneydance support.

    I can see you’ve received a reply from one of our knowledgeable Moneydance customers. To add to this useful information I thought it's worth mentioning that you can download our free trial version 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. I'd be happy to provide guidance if you have any questions or need assistance getting setup.


    Additionally, you need to use your older program to export your data into one or more QIF files.

    Ideally you'll export one QIF file that contains all of your account data. Use the option to export 'all accounts' within one QIF file if this is available within the software you're using. If not, you should export one QIF file for each account in your file.

    Make sure you export any closed or inactive accounts containing transfers to your open accounts. You may need to re-open these accounts before exporting.

    If you're using Moneydance for the first time, when you open the program, you'll see the Welcome window. Choose “Create a new account set” and setup a new data file.
    If you have opened Moneydance previously, you can create a new data file by choosing File --> New --> Create a New File. Then follow the prompts to enter a name and currency for your new file.

    When viewing your new data file, choose File --> Import. Then navigate to and select the QIF file.

    You'll be asked which account you want to import your data into. If you have data for multiple accounts within one QIF file, you can pick any account.

    Below this, Moneydance will automatically try to determine the date format and decimal character used within the QIF file.
    If you want to check this, open the QIF file with a text based program like NotePad or TextEdit. This will allow you to check which date format and decimal character are being used.

    Choose 'Import' and wait a moment while your accounts and data are imported into Moneydance.

    If it appears some of your accounts are missing from the left side bar, press the '+' button at the bottom of the side bar. Choose 'Advanced'. You should see the missing accounts in the panel on the left - highlight the account name and press 'Add' to move the accounts into the panel on the right. When you're done press OK and these accounts should then be available for selection from within the side bar.

    Some QIF files don’t include an 'Initial Balance' for your accounts (sometimes referred to as a beginning balance or a starting balance). If this is the case, you'll see all transactions have imported but the account balance will show a discrepancy.
    To fix this, select the account and choose Account --> Edit Account. In this window, you can enter an amount into the 'Initial Balance' field.

    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 the current security prices.

    Reminders are not included in QIF files as the QIF file format has no ability to include reminder data.

    Finally, it may be worth referring you to this article of the Knowledge Base on Possible Problems After QIF Import.

    I hope this information is helpful. Please let us know if you have further questions or need more assistance.

    --
    Maddy, Infinite Kind Support

  4. 4 Posted by Paul and Sue Hu... on 01 Jul, 2022 02:48 PM

    Paul and Sue Huff's Avatar

    Thank you. This is very helpful.

    Sent from Mail for Windows

  5. 5 Posted by Paul Huff on 02 Jul, 2022 12:07 PM

    Paul Huff's Avatar

    Well, I've imported a QIF file from my old software and it's looking promising. Many of the account balances are off and I will need to track that down - possibly adjust the starting balance.

    But I do have a question... Some of the accounts are listed twice where one of the names has the letter "X" appended to it, and with either no entries in it or with a single incorrect entry. What does the "X" indicate? Can I simply delete those extra accounts?

    Thank you.

  6. 6 Posted by Paul and Sue Hu... on 02 Jul, 2022 12:08 PM

    Paul and Sue Huff's Avatar

    I also posted this in the online forum…

    Well, I've imported a QIF file from my old software and it's looking promising. Many of the account balances are off and I will need to track that down - possibly adjust the starting balance.

    But I do have a question... Some of the accounts are listed twice where one of the names has the letter "X" appended to it, and with either no entries in it or with a single incorrect entry. What does the "X" indicate? Can I simply delete those extra accounts?

    Thank you.

    Sent from Mail for Windows

  7. 7 Posted by dwg on 02 Jul, 2022 12:55 PM

    dwg's Avatar

    Moneydance follows the rules of accounting. If is gets an imported transaction that does not follow these rules it has to deal with them and one of the ways is to create another accounts with the same name but with an appended _x to the name and assign the other side of the transaction to this account.

    For example there is one very well known product that allows and in some ways encourages this, you can use a transaction that draws on the account you are transferring funds to in order to increase/decrease the balance.

    For example the other software allows you to set an initial balance by transferring funds from the very same account that you making the entry into i.e. it creates money out of thin air. As an accounting based program Moneydance cannot allow this and it needs an account or a category to draw the funds from so it creates accounts with names like this and uses them to make it into a valid transaction.

  8. 8 Posted by Stuart Beesley ... on 02 Jul, 2022 01:02 PM

    Stuart Beesley (Mr Toolbox)'s Avatar

    So. No you cannot just delete these accounts until they are empty. You must edit each transaction and correct the account/cat that ends in _x with the correct account/cat. Once the _x account is empty then you can delete it.

  9. Support Staff 9 Posted by Ethan on 02 Jul, 2022 09:06 PM

    Ethan's Avatar

    Just to add to the above comment, you need to fix any transactions in those X accounts first because when you delete an account or category, you also delete all of the transactions within it. This deletes both sides of the transaction. For example, if one of these transactions from the X account went to/from your main account, it would also delete it in the main account, likely ruining your balances.

    Often the X accounts are some kind of improper balance adjustment operation, as dwg mentioned. If you need to keep those as balance adjustments, you can create a category with that name and change the transaction to go to that new category instead of the X account. It may be something else though, so you'll have to figure out the context.

    Ethan
    Infinite Kind Support

  10. 10 Posted by LL Kleopfer on 02 Jul, 2022 11:53 PM

    LL Kleopfer's Avatar

    Tried to import a Quicken QIF file and it is a disaster. I have multiple investment accounts and nothing transferred except the account names. No data, no shares, no historical purchases, no cash balances, no dividends, no capital gains. I have data back to 2007 and everything would have to be entered manually. Software is junk as far as I am concerned. This is 2022 and if imports can't be automated, it is a waste of time.

  11. 11 Posted by dtd on 03 Jul, 2022 12:48 AM

    dtd's Avatar

    @LL Kleopfer - just a user,

    I suggest, rather than "taking over" another thread, that you start one of your own.

    Saying "software is junk as far as I am concerned" is not conducive to getting help.

    Imports do work, and do have issues, but what you describe sounds like you are not doing it right.

    Start a new thread, and be polite.

    (I have data back to 1985, and converted 1 1/2 years ago from Quicken)

  12. 12 Posted by Paul Huff on 03 Jul, 2022 05:08 PM

    Paul Huff's Avatar

    It took some significant detective work through almost 13 years of financial records, but I managed to find and correct all of the issues that made those "X" accounts. I'm very pleased with the results and will be purchasing the app. Thank you.

    (As far as I am concerned, this thread is finished.)

  13. Support Staff 13 Posted by Ethan on 03 Jul, 2022 08:38 PM

    Ethan's Avatar

    Hi Paul,

    I'm glad to hear it sounds like you've sorted things out! There's unfortunately usually some amount of manual editing necessary when moving so much data from one program to another, but on the plus side you'll only have to do this once. Please let us know if we can be of further assistance,

    Ethan
    Infinite Kind Support

  14. Ethan closed this discussion on 03 Jul, 2022 08:38 PM.

  15. Lynn L Kleopfer re-opened this discussion on 03 Jul, 2022 10:15 PM

  16. 14 Posted by Lynn L Kleopfer on 03 Jul, 2022 10:15 PM

    Lynn L Kleopfer's Avatar

    I deleted MoneyDance.  It would have taken me months to manually input
    the investment files.  I am sticking with Quicken for Mac.  In spite of
    some problems with Quicken, it is the only program that can deal with my
    investment accounts.  MoneyDance would only be useful for starting over
    from nothing.  Even then, I would not be able to download my Fidelity
    accounts.  I will give you a bad rating on every website I can.
    ------------------------------------------------------------------------
    *From:* Ethan [mailto:[email blocked]]
    *Sent:* Sunday, July 3, 2022, 3:38 PM
    *To:* [email blocked]
    *Subject:* Importing data from another app [Switching to Moneydance #21163]

  17. 15 Posted by dtd on 03 Jul, 2022 11:40 PM

    dtd's Avatar

    just a user -

    Sounds like you are not interested in being helped - that's fine, but giving MD a bad rating on every website you can is a bit unfair to MD, given you would rather assume how the program works instead of asking for assistance.

    Given not wanting help, why did you post at all?

  18. 16 Posted by Lynn L Kleopfer on 04 Jul, 2022 12:54 AM

    Lynn L Kleopfer's Avatar

    I wanted the software to work as advertised and it did not, so gets 0 stars.
    ------------------------------------------------------------------------
    *From:* dtd [mailto:[email blocked]]
    *Sent:* Sunday, July 3, 2022, 6:40 PM
    *To:* [email blocked]
    *Subject:* Importing data from another app [Switching to Moneydance #21163]

  19. Maddy closed this discussion on 04 Jul, 2022 10:42 AM.

  20. Paul and Sue Huff re-opened this discussion on 04 Jul, 2022 11:06 AM

  21. 17 Posted by Paul and Sue Hu... on 04 Jul, 2022 11:06 AM

    Paul and Sue Huff's Avatar

    Sent from Mail for Windows

  22. Maddy closed this discussion on 04 Jul, 2022 11:30 AM.

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