Quicken file

Tom's Avatar

Tom

16 Jul, 2022 06:26 PM

Hi, why is it that when I import my Quicken file it make 2 Checking accounts. 1 is correct and the other has some random amount.
Not happy with this software.
.

  1. 1 Posted by dwg on 16 Jul, 2022 10:26 PM

    dwg's Avatar

    If the software creates a second cheque account with the same name but ends in a "X" it is usually a indication that Quicken is not following accounting rules, which it does not. But Moneydance does.

    Generally it means that an entry has been made in Quicken that uses the same account as a source, so it draws on itself to crate a new entry, this is a totally invalid thing to do. It is most common in Quicken with the initial balance, but there are other transactions that can do it. With the initial balance it is easy to fix in that you set up the initial balance in The account information screen in Moneydance then you can get rid of the other transaction and the extra account.

    The issue is really that Quicken is a free form program, in some cases like Single entry accounting, and that forces some order by using wizards to create entries where it needs rather than a rules based system like double entry accounting.

  2. System closed this discussion on 15 Oct, 2022 10:30 PM.

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