Converting QuickBooks data to MoneyDance
Can I convert data from Quickbooks to MoneyDance? What's the process?
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1 Posted by dwg on 07 Aug, 2024 10:06 PM
I'm a fellow Moneydance user.
Migrating from QuickBooks is a problem, Intuit does not really want you to move away so they do not provide the tools that readily allow it. QuickBooks is also primarily a business accounting program so it is not really comparable to Moneydance.
Quickbooks’ QBB files are proprietary and there are no other programs that are known to be able to read these files.
QuickBooks does not allow exporting to QIF, which is the main format that is used to migrate between personal finance software programs, QIF files contain raw transaction data. CSV files can work in some circumstances but do have limitations. As far as we know only the Intuit Interchange Format (IIF) is supported by Quickbooks.
An IIF to QIF converter will not solve the problem either, as journal entries cannot be exported in IIF format, only lists are exportable and it is the journal data that is needed.
A somewhat viable way to overcome this problem is to set up a journal report, to show all journal entries. Print the report using the "print to file" option. Set the file type to Excel before printing. Rename the extension of the resulting file from PRN to CSV.
The CSV importer in Moneydance may be able to handle this file but this is unknown as we have no direct experience with QuickBooks and have not found any references about the files produced, or seen a sample from QuickBooks. CSV files cannot be imported into Investment accounts.
You may be able to use something like the XL2QIF macro that is available for Excel to convert the CSV files to QIF. The CSV file may need to be reorganized in order to be in an appropriate format for the macro to work, such as separating check accounts from term deposits, etc. The above referenced Excel macro produces QIF files that can be imported into investment accounts and it also supports split transactions.
In summary it is likely that it would require some effort to move data from QuickBooks to any other program.