New Bank(s)
David V. Sibel Sr.
Can you add The Middlesex Savings Bank, please? Also, I didn't check for TD Bank but I assume since it is a large bank you have it now. With access to those 2 banks, I will sign up.
Best, David V. Sibel Sr.
[email blocked]
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Support Staff 1 Posted by Maddy on Jan 13, 2020 @ 07:17 PM
Hi David,
Thank you for contacting Moneydance support.
Moneydance only supports automatic downloads using Direct Connect, and unfortunately The Middlesex Savings Bank don't support this connection method. If they begin to support Direct Connect at any point, we'd be happy to establish a connection with them.
The Middlesex Savings Bank use other connection methods that Moneydance does not support, called Web Connect and Express Web Connect.
By only using Direct Connect, we can guarantee that your username, password and financial data only ever exists with your bank or on your own personal computer, and at no point are your details stored on another server.
You can read more about why we only support this connection type in our blog and also in this article.
Without Direct Connect, you are still able to easily import your data into the program. The best way to get your transactions into Moneydance is to use a web browser to download files from your bank's web site.
We'd recommend you download using the OFX or QFX file format if available. If not, use the QIF file format. (These files are sometimes referred to as Quicken or MS Money files). You can import the files to Moneydance using File --> Import.
The steps for manually importing your data are outlined in this article from the knowledge base.
Moneydance 2019 includes en embedded browser (currently a beta feature) that makes downloading from the banks website much easier. We're also working on another feature (coming soon) that will remember how you download from the banks site and help to automate the manual import process.
On the other hand, TD Bank BusinessDirect and TD Bank Online Banking are listed, so you can set this up within Moneydance by navigating to Online --> Set Up Online Banking. Then select 'New Connection' and choose your financial institution from the list.
You can view a list of financial institutions that support this feature here.
Most banks require that you contact them to enable Direct Connect before you can download your data from within Moneydance.
When you enable Direct Connect, you'll be given the login credentials you need to connect. Generally, these login details differ from those used for other services like ATM or online banking.
You can find the steps for setting this up outlined in this article.
I hope this information is helpful. Please let me know if you have further questions or need any assistance.
--
Maddy, Infinite Kind Support
2 Posted by David V. Sibel ... on Jan 14, 2020 @ 11:31 PM
Maddy: Thanks for your email. Since I have 5 accounts with The Middlesex
Savings Bank I don't see the value of subscribing for a full year. Is it
possible to subscribe for one month so I can import from Quicken and edit
on MD?
Best, David
3 Posted by derekkent23 on Jan 15, 2020 @ 07:58 AM
I am not support staff, just a user.
Moneydance is not a subscription service.
Try it out for yourself.
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.
Make sure you are running this build of Moneydance https://infinitekind.com/preview
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.
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.
For information on how to use Moneydance see https://infinitekind.tenderapp.com/kb
Note 1: This section only applies if you have accounts with currencies that are not in your base currency. 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.
Hope this helps.
System closed this discussion on Apr 15, 2020 @ 08:00 AM.