American Express download area update has removed QIF format

CDWOS's Avatar

CDWOS

18 Sep, 2020 07:01 AM

Having recently logged in to download Account activity (transactions) to Quicken 2004XG have discovered that most recent update to the Amex download area has removed/dropped the QIF option which makes it nearly impossible for any UK Quicken 2004 uses to import data as Quicken 2004 can't read QFX format.
Have tried to contact Amex to advise and request that they reinstate the QIF option but can only leave message with Customer Services in the hope that it is passed on to IT/Development department.

Any ideas how one can get around this problem with out massive manual intervention.

Stay safe and well

Regards
CDWOS

  1. 1 Posted by derekkent23 on 18 Sep, 2020 07:12 AM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi CDWOS

    This is the Moneydance customer support site.

    Moneydance, a personal finance app, will happily import QFX files from your financial institutions.

    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. 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).
    Wait for the Analyzing data window to close, this can take a few minutes. Nothing may appear to happen until the Import window opens.

    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 wait, the process can take some time. Again, nothing may appear to be happening until the process is complete, indicated by the Merging data window closing.

    Some or all of the accounts maybe hidden in the Side Bar, list on left. To make accounts visible click the “+” at the bottom of the Side Bar, then Advanced, then OK.
    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.

    You can also click the “+” button at the bottom of the Side Bar, click Advance then use the Advance window to determine which items are visible in the Side Bar.

    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.

    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. 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.

    Hope this helps.

  2. 2 Posted by charlesdwosulli... on 18 Sep, 2020 08:45 AM

    charlesdwosullivan's Avatar

    Thank you very much for the explanation. Did have your offering in mind should a change of programme be forced upon me.

     

    Ideally don’t want to give up Quicken 2004XG after 16 Yrs but equally 16+yrs down the line I may need to if MS do anything with Win 10 or later that means that older programmes no longer run properly

     

    Kind regards

     

    CDWOS

  3. 3 Posted by dwg on 18 Sep, 2020 10:14 AM

    dwg's Avatar

    I'm a fellow user.

    If you only have access to QFX files and you need QIF files then the only solution I can see is some external format converter software, To use this would be a manual process.

    You would either have to purchase a suitable utility or see if you can locate a freeware/shareware/open source converter.

  4. 4 Posted by CDWOS on 18 Sep, 2020 06:28 PM

    CDWOS's Avatar

    Dwg thank you for the suggestion.

  5. 5 Posted by CDWOS on 19 Sep, 2020 07:22 AM

    CDWOS's Avatar

    Derekkent23,
    Following your very complete and extremely helpful reply to my query I have downloaded Moneydance, both the programme and user guide, and intend to try it out as a possible replacement for my elderly Quicken 2004XG (only desktop version available in UK). Even though I have no specific problem with Quicken it is getting old and other newer supported software can do more and much better and is less likely in the foreseeable future to run into compatibility problems with operating systems or other software.
    Thank you very much you have moved my thought process forward to considering replacement whilst I do want to solve the QIF problem for now.

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