Possible Problems After QIF Import

Incorrect account balances

If transactions in your account appear up to date, but the balances are incorrect - it's most likely the QIF file did not include an initial balance transfer as the first transaction in the account.

The Initial Balance is sometimes referred to as a "Beginning Balance" or a "Starting Balance".

To correct this, you can set the initial balance on your accounts in Moneydance manually.

To do this, select the account, then navigate to Account > Edit Account.
You can then enter an amount in the Initial Balance field.
This is detailed further within this article.

Foreign currency transfers with incorrect rates

Unfortunately, QIF files do not contain any currency or exchange rate information.
Therefore, Moneydance will use the current rate on all foreign currency transfers.

There is no way to get the correct exchange rate information from the other software for your transactions.

To confound things even more, it's very likely you are going to see duplicates for every foreign currency transfer. This is because the amounts are different on each side of the transaction, and Moneydance is unable to match them.

If you have a lot of foreign currency transfers, and you want to move to any other personal finance program, you may want to consider starting your data file from the beginning of the year, rather than trying to import all of your historical data.

Incorrect transaction dates

The QIF file can store the dates in a number of different formats.

When you import a QIF file, Moneydance will attempt to detect the settings used within your file.
However, the settings may have been detected incorrectly.

You can create a new blank data file (via File > New).
Then try to import the QIF file again.
This time, manually adjust the "Date Format" field.

Please note that the date format used in the QIF file is not necessarily the same as the date format that you have specified for display purposes.

If you want to check which date format is used within your QIF file -
Open the QIF file with a program like TextEdit or NotePad to view the file contents.
This will allow you to check which date format is used within your file.

Imported category names include "XXXX"

Any category names including "XXXX" were hidden categories that your previous software was using behind the scenes (for various reasons, depending on the software you were using) and have been included in the QIF export file.

Some categories might be used for the initial balance transfer.
Other categories may contain a number of $0.00 transactions that were used for storing budget information.

Generally speaking, these "XXXX" categories can safely be deleted.
However, you should look at the transactions assigned to the category before removing it.

Duplicated transfers -

If transfers have been duplicated, you'll need to ensure that the dates are the same on both sides of the transfer.

Some software supports different dates on the other side of transfers.
Unfortunately, Moneydance cannot match the two sides of a transfer in such a case.