tag:infinitekind.tenderapp.com,2009-01-14:/discussions/switching-from-another-personal-finance-program/13297-wrong-balances-after-qif-importInfinite Kind: Discussion 2019-08-09T02:50:24Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-11T07:04:07Z2019-04-11T07:04:07Zwrong balances after QIF import<div><p>I am not support staff, just a user.</p>
<p>You don't state which build of 2019 you are using e.g. 2019.2(1865).<br>
There has been some improvement in the QIF import process in in the current preview build download from <a href="https://infinitekind.com/preview">https://infinitekind.com/preview</a><br>
Worth a try, let us know how you get on.</p>
<p>Hope this helps.</p></div>derekkent23tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-12T02:13:38Z2019-04-12T02:13:39Zwrong balances after QIF import<div><p>@derekkent23, thanks for the suggestion. I was using version 2019.1(1855). I switched to 2019.2(1865) and redid the import. The same issue remains.</p>
<p>I think one transfer transaction from Quicken is being imported as two separate splits.<br>
Example: $500 transferred from Wells Fargo on 6/18/1998 and bought shares of Index 500. This single transaction shows up as 2 transactions on both accounts. I have attached screenshots from both Quicken and Moneydance for the Vanguard side of the transaction. My original post has the Wells Fargo side of the transaction.</p>
<p>This is going to be impossible to fix manually. I purchased the product to try out the QIF import. I have many years of data in Quicken. If the import does not work properly, I cannot use Moneydance. I need some help from the developers.</p></div>Chakra R Srivatsatag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-12T02:25:07Z2019-04-12T02:25:08Zwrong balances after QIF import<div><p>From the QIF file, searched for D6/19/98 (date of transaction reported above) and amount of 500.00. I can only find 2 transactions. These two transactions are being entered separately in each account in Moneydance, instead of matching up.</p>
<p>Transaction 1: (Wells Fargo Checking)<br>
^ D6/18/98<br>
U-500.00<br>
T-500.00<br>
CX<br>
PIndex Trust 500<br>
L[Vanguard]<br>
^ Transaction 2: Vanguard<br>
^ D6/18/98<br>
NBuyX<br>
YIndex Trust 500<br>
I102.965404<br>
Q4.856<br>
U500.00<br>
T500.00<br>
L[Wells Fargo Checking]<br>
$500.00 ^</p>
<p>The help page for QIF imports says the Moneydance will have problems matching transactions if dates don't match but in this case the dates do match:</p>
<p>Duplicated transfers -<br>
If transfers have been duplicated, you'll need to ensure that the dates are the same on both sides of the transfer.</p>
<p>Some software supports different dates on the other side of transfers.</p>
<p>Unfortunately Moneydance cannot match the two sides of a transfer in such a case.</p></div>Chakra R Srivatsatag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-12T02:40:59Z2019-04-12T02:40:59Zwrong balances after QIF import<div><p>I'm a fellow user.</p>
<p>I think the Importer may be getting confused with the BuyX transaction, resulting in the duplicates. I have left a pointer for the developer to this discussion.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-12T08:43:05Z2019-04-12T08:43:05Zwrong balances after QIF import<div><p>I am not support staff, just a user.</p>
<p>Hi Chakra, sorry my suggestion of trying 2019.2(1865) did not work out.<br>
I have added to dwg comments to Sean the software developer including a QIF file I have created that I hope will highlight the import issue. A real QIF file exported from Quicken would have been better, but I don’t have one of them. Anyway, let hope the file help Sean debug the issue. Sean on a trip at the moment so if he response it may be delayed.</p></div>derekkent23tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-13T01:11:02Z2019-04-13T01:11:03Zwrong balances after QIF import<div><p>@dwg, @derekkent23, thanks for your help. I'm impressed that users are trying to help other users out. I'll wait to hear on this topic from Sean.</p></div>Chakra R Srivatsatag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-17T22:26:11Z2019-04-17T22:26:12Zwrong balances after QIF import<div><p>Hi Sean,</p>
<p>Any update on this issue. If I am not able to to resolve this, I will have to return Moneydance and get my money back.</p>
<p>Regards,</p>
<p>Chakra.</p></div>Chakra R Srivatsatag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-17T22:43:04Z2019-04-17T22:43:04Zwrong balances after QIF import<div><p>I'm a fellow user.</p>
<p>There weres some changes in BuyX transaction handling in build 1866. I can only suggest at this stage trying the latest preview build.</p>
<p><a href="http://infinitekind.com/preview">http://infinitekind.com/preview</a></p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-20T00:36:47Z2019-04-20T00:36:51Zwrong balances after QIF import<div><p>I am having the same problem .. I have been using quicken since June 12, 2019. I tried creating a qif file for my checking account only. I am using Quicken 2018.</p>
<p>I like quicken I just don't want to pay annual fee of over $100</p>
<p>But if I can't even import data this is useless.</p></div>Jacques Farleytag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-20T07:26:43Z2019-04-20T07:28:44Zwrong balances after QIF import<div><p>I am not support staff, just a user.</p>
<p>Were you using 2019.2(1868) when you imported your QIF file from <a href="https://infinitekind.com/preview">https://infinitekind.com/preview</a></p>
<p>I have done some testing with 2019.2(1868) importing a QIF file exported from a program admittedly not Quicken.</p>
<p>These are the steps I followed.<br>
Create a new data set under FILE (MONEYDANCE on Mac) – NEW.<br>
Deleted the two default Bank accounts, highlighting them in turn and using ACCOUNT – DELETE ACCOUNT.<br>
Drag and dropped the QIF file into the side bar (list on left).<br>
Waited for import window to appear. This can take some time, nothing appears to be happening. Checked all listed accounts were of the correct type and changed if required.<br>
Click import and waited to values to file in, again this can take some time.<br>
Some accounts were hidden under the “+” at the bottom of the side bar, added them back.<br>
Checked that the initial balances were correct under ACCOUNT EDIT for each account. Some programs don’t export initial balances. For investment accounts remembered that QIF file don’t carry security prices other than buy sell prices so investment account balances are likely to be wrong until you update with current security prices.</p>
<p>If none of the above help I will post a link to this thread to Sean the software developer in the hope he responds.<br>
Please details of the result, this could help figure our what is happening.</p>
<p>Hope this helps</p></div>derekkent23tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-20T15:23:13Z2019-04-20T15:23:13Zwrong balances after QIF import<div><p>Hi Derek<br>
I much appreciate your help. I have been using Quicken since 1998.</p>
<p>I am using Quicken 2018 R 12.8 Build 27.1.12.8 Canada edition on Windows 10<br>
a 1 year old lenovo.</p>
<p>I have created a qif file from Quicken. Then I import it in Moneydance.</p>
<p>It creates all the accounts but the balances are wrong. For my checking<br>
account it creates two accounts with incorrect balances.</p>
<p>I would very much appreciate if you could send to support staff. I am very<br>
close to giving up and renewing Quicken for another year. I may also look<br>
at Microsoft money.</p>
<p>Thanks for your help</p></div>Jacques Farleytag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-20T15:36:03Z2019-04-20T15:36:03Zwrong balances after QIF import<div><p>I am not support staff, just a user.</p>
<p>Hi Jacques</p>
<p>I will post a link to this thread in the hopes that Sean the Moneydance developer will respond. It’s a public holiday here on Monday so if a response comes it’s not likely to be until later in the week.<br>
I moved from Microsoft Money to Moneydance back in 2015 and have never regretted it. It was not an easy move, the QIF file is not built for the job, but it’s all there is. I had to spend many days sorting the account out to get them to balance.</p></div>derekkent23tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-20T16:34:29Z2019-04-20T16:34:29Zwrong balances after QIF import<div><p>I am thinking of just forgetting about downloading Quicken files. I will<br>
simply download from the bank and forget about the historical data.</p>
<p>Rather disappointed though.</p>
<p>Thanks for your help.</p></div>Jacques Farleytag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-23T23:27:23Z2019-04-23T23:27:25Zwrong balances after QIF import<div><p>I think it's weird that no Moneydance technical support staff have responded on this thread. Hope that happens soon. Sean?</p>
<p>I am even open to hacking the QIF file, if I knew what to hack, e.g. changing buyx to buy or something like that.</p></div>Chakra R Srivatsatag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-04-24T01:13:37Z2019-04-24T01:13:37Zwrong balances after QIF import<div><p>Hi<br>
I have given up on conversion. I have created new accounts and downloaded<br>
as many months of historical data as I could. Bank accounts that is 18<br>
months and credit cards that is 6 months.</p>
<p>It was disappointing but I would not recommend anyone use MoneyDance if<br>
they need to convert the Quicken files.</p></div>Jacques Farleytag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-08T03:54:20Z2019-05-08T03:54:22Zwrong balances after QIF import<div><p>Anyone out there handling support for Moneydance?</p>
<p>I have created a simple test case - a new quicken file with two accounts: CheckingABC (starting balance $1000) and BrokerageABC (starting balance $100) accounts. Entered 2 buy transactions with money transferred from the checking account. I have screenshots from quicken and moneydance, and the QIF file. Even something as basic as this is being imported incorrectly.</p>
<p>I may have to do what Jacques did and give up on any conversion.</p></div>Chakra Srivatsatag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-08T09:59:00Z2019-05-08T12:57:56Zwrong balances after QIF import<div><p>I am not support staff, just a user.</p>
<p>The QIF file format was never intended to be a means of transferring a data file from one program to another, but it all we have. Expect to do some clean-up work.</p>
<p>I have posted a link to your post 16 on the Moneydance’s software developers’ Slack site. Hope he comments.</p>
<p>These are my observations after importing your QIF file.</p>
<p>It does not look like the Quicken QIF file contains initial account balances for Bank accounts. So, to correct the balance for CheckingABC, you need to add opening balance of 1000. Highlight CheckingABC in the side bar and click ACCOUNT – EDIT ACCOUNT and set INITIAL BALANCE to 1000.</p>
<p>The investment account also does not seem to have an initial balance. Highlight Investment account BrokerageABCX and click ACCOUNT – EDIT ACCOUNT and set INITIAL BALANCE to 100.</p>
<p>In my opinion Moneydance should not be creating the bank account BrokerageABCX, I think this is a bug. To correct this, delete erroneous bank account BrokerageABCX</p>
<p>Reference Screen shot “quicken-brokerageABC”<br>
It shows opening cash balance of 100.<br>
Two buys, 10 shares at 50 and 1 share at 50, total value 11*50=550 plus cash 550+100=650.<br>
However, security value shows 2,931.39, cash 100, total 3031.39. Quicken does not seem to be using the buy price of 50 as the security price. In the Moneydance security history window (INVESTMENTS – BROKERAGEABC - SECURITY DETAIL - HISTORY) there is a price history. The value for the 05/07/2019 is 50 which has overwritten the value in the QIF file which is 266.49. This is the value Quicken uses. 11*266.49=2931.39 for Securities values plus 100 cash, to give a total market value 3031.39.<br>
So, it a question which you consider correct, the price you buy at or the historical price for the same date.</p>
<p>After adding initial balances in Moneydance and deleting BrokerageABCX, Moneydance looks correct. CheckingABC is the same as the Quicken screen shot. The investment account balance at 650 looks correct if you accept the price of the security is 50, the buy price.</p>
<p>Hope this helps.</p></div>derekkent23tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-08T13:12:45Z2019-05-08T13:12:45Zwrong balances after QIF import<div><p>I am not support staff, just a user.</p>
<p>After a clean-up as described in post 17 this is how Moneydance looked.</p>
<p>Hope this helps</p></div>derekkent23tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-08T13:52:19Z2019-05-08T13:52:19Zwrong balances after QIF import<div><p>Looking at the test file there is an extra Account definition with a Type of Port, ie:<br>
NBrokerageABC<br>
TPort</p>
<p>There is also an entry for the investment account:</p>
<p>NBrokerageABC<br>
TInvest</p>
<p>I think this will confuse any import program and it is a Quicken issue not an MD issue</p>
<p>Mike (User not MD Support)</p></div>Mike Bray (Quote Loader Author)tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-09T01:16:02Z2019-05-09T01:16:04Zwrong balances after QIF import<div><p>@derekkent23,</p>
<p>Thanks for taking the time to import the QIF file. Your screenshot looks ok. I'm guessing that you used the latest build.</p>
<p>I imported the QIF file with Moneydance 2019.2 (1865). I did add the beginning balances - $1000 to CheckingABC and $100 to BrokerageABC. In spite of that, my moneydance screenshots look wrong, as you can see. For example, the checking balance is $1550, not $450. The Euro symbol shows up in the memo description.</p>
<p>I updated to Moneydance 2019.3 (1870) and I was able to get the same results as you, so at least in this simple case, it seems to be working ok. For the shares, I used an arbitrary buy price of $50, so you are correct, that does not reflect the real value.</p>
<p>I will try importing my full QIF file and report back.</p>
<p>@MikeBray, why do you say that the entry is wrong? There <em>is</em> an investment account called BrokerageABC.</p>
<p>Chakra.</p></div>Chakra Srivatsatag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-09T02:52:04Z2019-05-09T02:52:04Zwrong balances after QIF import<div><p>I'm a fellow user.</p>
<p>I believe Mike is pointing to the fact there are two definitions for the one account, also I do not recall there being an account type of "Port"</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-09T08:02:31Z2019-05-09T08:02:31Zwrong balances after QIF import<div><p>I am not support staff, just a user.</p>
<p>Hi Chakra.</p>
<p>Yes, I should have posted that I as using 2019.3(1870).</p>
<p>In the CheckingABC account I also see the euro symbols, not sure in this situation what they represent, not split transactions.</p>
<p>I suspect, but am not sure the following is the reason for the erroneous creation of the account BrokerageABCX. Moneydance uses double entry book keeping. Every transaction has to have two halves and thus appear in two accounts. Accounts include Bank, Credit card, investment accounts, categories etc.</p>
<p>In your sample QIF file is the following section.</p>
<p>!Type:Invst = ACCOUNT TYPE INVESTMENT D5/ 7'19 = ACTION DATE<br>
NCash = ACTION TYPE CASH<br>
U100.00 = AMOUNT (SAME MEANING AS T)<br>
T100.00 = AMOUNT (SAME MEANING AS U)<br>
L[BrokerageABC] = TRANSFER ACCOUNT [XXXX]</p>
<p>Transfer the cash amount of 100 into investment account BrokerageABC on the 7 May 2019.<br>
I can’t see the corresponding section in the QIF file for the other half of the transaction.<br>
Perhaps this is why Moneydance created BrokerageABCX to act as the other half.</p>
<p>Anyway let us know how you get on.</p></div>derekkent23tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-09T10:04:59Z2019-05-09T10:04:59Zwrong balances after QIF import<div><p>Hi Chakre</p>
<p>From further investigation an account type of Port equates to Investment and as @dwg pointed out the QIF file has 2 definitions of the Investment Account BrokerageABC.</p>
<p>However, from reading your file more closely the second definition</p>
<p>!Account NBrokerageABC<br>
TInvst</p>
<p>^</p>
<p>is telling the importer that the following transactions are for the BrokerageABC account. You then have some transactions for that account. The 2 buys:</p>
<p>D5/ 7'19<br>
NBuyX<br>
YVanguard 500 Index Fund Investor Shares<br>
I50<br>
Q10<br>
U500.00<br>
T500.00<br>
L[CheckingABC]<br>
$500.00</p>
<p>^</p>
<p>D5/ 7'19<br>
NBuyX<br>
YVanguard 500 Index Fund Investor Shares<br>
I50<br>
Q1<br>
U50.00<br>
T50.00<br>
L[CheckingABC]<br>
$50.00</p>
<p>^</p>
<p>take funds from CheckingABC and 1 cash transaction:</p>
<p>!Type:Invst D5/ 7'19<br>
NCash<br>
U100.00<br>
T100.00<br>
L[BrokerageABC]</p>
<p>^</p>
<p>which has BrokerageABC as the other side of the transaction. Moneydance seems to see this as a transfer between the same account and therefore creates another account with the X added.</p>
<p>A bit convoluted but I can see why this happens. In Quicken what does this transaction do?</p>
<p>Mike</p></div>Mike Bray (Quote Loader Author)tag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-09T18:15:23Z2019-05-09T18:15:23Zwrong balances after QIF import<div><p>Hi all,</p>
<p>Unfortunately, the balances are still widely off after importing the real QIF file with the latest preview build.</p>
<p>I have decided to just stick with Quicken in spite of their new annual subscription model.</p>
<p>Thanks to all the kind users who have been helpful. I am quite disappointed that not one single staff person has commented.</p>
<p>Regards,</p>
<p>Chakra.</p></div>Chakra Srivatsatag:infinitekind.tenderapp.com,2009-01-14:Comment/471670752019-05-10T02:45:15Z2019-05-10T02:45:15Zwrong balances after QIF import<div><p>FWIW This rang a few bells from when I migrated from Reckon.</p>
<p>I have been able to access the original CSV data I was able to extract from Reckon (Australianized version of Quicken and without a QIF export option) Looking at one account the first entry from 1999 shows a deposit entry with a Description of "Opening Balance" and a category showing a transfer from itself so this appears to be one way the software handled an opening balance - a transfer from itself to itself.</p></div>dwg