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Migrating Data from Microsoft Money

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MCFH's Avatar

MCFH

04 Nov, 2012 05:32 PM

Hi there, I am taking a look at MoneyDance and have run into an issue migrating data from MS Money. When I import some of my QIF files it createsan account called Investment Income:Capital Gains]|[account name] where account name is an account name I recognise. It creates similar ones for Dividends and Interest (substitute Capital Gains).

In the QIF file I can see the string
LInvestment Income:Dividends|[account name] and account name exists (as a bank account).

Can you help at all as without this being fixed it will be very hard for me to migrate?
Thanks
Mark

  1. 1 -Kevin N.'s Avatar -Kevin N. on 04 Nov, 2012 08:42 PM

    HI MCFH,

    Those accounts being created most likely represent the Cash accounts associated with your Investment accounts. They will be merged into the Investment account at the end of the import process.

    Look to the following Knowledge Base article and follow the step-by-step instructions to import your data from MS Money.
    http://help.infinitekind.com/kb/importing-from-quicken-or-ms-money/...

    Unfortunately, due to the means in which Microsoft only allows the user to export one account at a time, the process can be far from trivial.

    HTH -Kevin N.

  2. 2 MCFH's Avatar MCFH on 04 Nov, 2012 09:26 PM

    Kevin,
    Thanks for coming back to me. I had read through and followed this.

    My Money setup is not that simple :) I have investments held (in MS Money language) in an investment account that have the associated cash account used for capital transactions only and pay income transactions such as dividends into a separate cash account. This reflects how the accounts are setup by the investment managers - and hence I can't collapse all transactions into one account.

    I had tried to merge them as you suggested when I observed that the loader had duplicated all of the transactions (as I would expect given the complexity you allude to) but, from what I can make out, all the posted transfer transactions had gone in backwards which was sending the volume of rework too high.

    I guess they may need to be replaced with two transactions in Moneydance (i.e. the dividend into the cash account associated with the investment and a sweep transaction to move it to the third account).

    Also, can I put in a plea for an 'add long' transaction for securities as it is more intuitive than an opening cash balance being drawn down to fund purchases (which is also incorrect from a tax perspective).

    Thanks
    Mark

  3. 3 -Kevin N.'s Avatar -Kevin N. on 04 Nov, 2012 09:54 PM

    Hi Mark,

    It sounds like you've got your hands full with this conversion. If at some point you decide that it has become insurmountable, there are some clever people who have put together a couple of applications so as to allow users to continue to use online banking with MS Money.

    https://sites.google.com/site/pocketsense/home

    http://code.google.com/p/hle-ofx-quotes/

    I'm using both of these apps to run the sunsetted version of MS Money in parallel with Moneydance.

    http://www.microsoft.com/en-us/download/search.aspx?q=Money+Plus+Su...

    BTW your idea of creating a separate Asset account as a go between for Cash txns should be doable.

    HTH -Kevin N.

  4. 4 MCFH's Avatar MCFH on 04 Nov, 2012 10:41 PM

    OK - have done a bit more digging. There are problems specifically effecting Gilts (aka Treasuries) where there are interest payments and in the investment account it maps them onto a Div transaction instead of a DivXfr and a separate Xfr that is the wrong way round. I am also seeing similar issues with the sale of fractional shares that arise with stock splits - a) the quantity is showing as 1 not a fraction and b) they also are not handling the Xfer variants.

    Thanks for the pointers on Money - I am not sure my father could cope with that!

    Mark

  5. 5 r.w.allen's Avatar r.w.allen on 04 Jul, 2013 04:13 PM

    This comment was split into a new discussion: Migrating Data from Microsoft Money

    I've just started trying to move my MM accounts into Moneydance, and so far I've come across several problems (I must be missing something).
    First of all I thought I would transfer one of my investment accounts to see how share prices were downloaded. I set up a bank and investment account in Moneydance, both having the same name as the MM investment account. I then transferred the one MM investment account into both the MD investment account and the MD bank account. It didn't work the figures didn't fit.
    I started again but with a bank account. Strangely after exporting one bank account MD listed all my bank accounts with values, but all incorrect, although the latest transactions where I checked were correct. Can anyone help?
    Should I import all the accounts before looking at MD perhaps (but I don't think so)?

    Also presumably if I eventually manage this, and then purchase teh full version of MD, I won't have to start doing it all again?

  6. Jessica Little closed this discussion on 04 Jul, 2013 06:40 PM.

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