qif import problem
Since TD Ameritrade accounts were transferred to Schwab and Schwab
doesn't provide ofx, qfx, or qif downloads, I've written an Excel macro
to convert the Schwab csv download to qif (qif rather than qfx because
qif is a much simpler format). However, when I import the qif file into
Moneydance Version: 2024.1 (5118), "Xfr" is automatically added to the
Action field and an IRA distribution is added to the balance even though
the amount is negative in the qif file. What do I need to do so
Moneydance subtracts the amount from the balance? I've tried different
things in the "N" field in the qif file with no success. A portion of
the qif file and the resulting entries in Moneydance are attached. There
is no confidential information in the attachments.
Ed Holley
- qif_sample.qif 293 Bytes
-
qif_to_MD_entries.jpg
41.7 KB
qif_to_MD_entries.jpg
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Support Staff 1 Posted by Maddy on 04 Jul, 2024 07:37 AM
Hi Ed,
We are sorry to hear about the problem you have encountered.
If you haven't already, you may want to install the latest update.
A new update was released on Jun 21st.
Moneydance 2024.2 (5139) is available to download from this page.
For a full list of improvements in the preview version, please refer to this page.
We recommend overwriting or manually removing the older version.
I hope this information is helpful. Please let us know if you have further questions or need more assistance.
--
Maddy, Infinite Kind Support
2 Posted by dwg on 04 Jul, 2024 08:18 AM
Your QIF file lacks an action for each transaction, this is generally needed for Investment Accounts to identify the transaction type and how it is to be processed.
The QIF indication for an action is N
If there is no N value, Moneydance takes the default action which is Xfr.
Action must be one of:
Buy
BuyXfr
Sell
SellXfr
Div
DivXfr
DivReinvest
MiscInc
MiscExp
Short
Cover
Xfr
Also If there is no category specified (L indicator) then the funds will go/be sourced from the default category
3 Posted by -Kevin N. on 04 Jul, 2024 01:04 PM
Hi Ed,
I've done something similar (used Excel to create qif files) for Fidelity in the event that they cease to provide direct-connect OFX imports.
For your Distributions and Bank Transfers, I'd say that an 'N' value of 'Xfr' is fine.
To have those transactions deduct their values from the IRA account in Moneydance, you simply need to change the negative value of those transactions in your qif file to positive values.
You could add some logic to your macro so that it changes those values based on the 'action' or 'description'. I used the 'ABS' function to do so, but my knowledge of VBA is that which is only enough to get myself in trouble. :)
@dwg
I wish that were true. I have tried tirelessly to get a qif import into an investment account to honor the default category.
-Kevin N. (not a member of Moneydance support)
4 Posted by dwg on 04 Jul, 2024 01:11 PM
@Kevin where does it end up then?
5 Posted by -Kevin N. on 04 Jul, 2024 01:18 PM
@dwg,
It has been my experience that Moneydance creates a generic category which is not the user-defined default category.
-Kevin N.
6 Posted by erholley on 04 Jul, 2024 09:21 PM
Thanks to each of you. In general, I dislike programs that do things
automatically, but with your help, at least there's a way to work around
the problems.
Ed
System closed this discussion on 03 Oct, 2024 09:30 PM.