tag:infinitekind.tenderapp.com,2009-01-14:/discussions/switching-from-another-personal-finance-program/15075-switching-from-quickenInfinite Kind: Discussion 2020-01-25T13:49:47Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/478476322019-11-18T16:02:15Z2019-11-18T16:02:15ZSwitching from Quicken<div><p>Hi Gerry,</p>
<p>Firstly, if you are importing from Quicken please note, QDF and QXF files use a proprietary file format that can only be read by Quicken and Intuit programs. You need to open Quicken to export your data into one or more QIF files.</p>
<p>Ideally you'll export one QIF file that contains all of your account data. Use the option to export 'all accounts' within one QIF file if this is available within the software you're using.<br>
If not, you should export one QIF file for each account in your file.</p>
<p>Make sure you export any closed or inactive accounts containing transfers to your open accounts. You may need to re-open these accounts before exporting.</p>
<p>If you're using Moneydance for the first time, when you open the program, you'll see the Welcome window. Choose “Create a new account set” and setup a new data file.<br>
If you have opened Moneydance previously, you can create a new data file by choosing File --> New --> Create a New File. Then follow the prompts to enter a name and currency for your new file.</p>
<p>When viewing your new data file, choose File --> Import. Then navigate to and select the QIF file.</p>
<p>You'll be asked which account you want to import your data into. If you have data for multiple accounts within one QIF file, you can pick any account.</p>
<p>Below this, Moneydance will automatically try to determine the date format and decimal character used within the QIF file.<br>
If you want to check this, open the QIF file with a text based program like NotePad or TextEdit. This will allow you to check which date format and decimal character are being used.</p>
<p>Choose 'Import' and wait a moment while your accounts and data are imported into Moneydance.</p>
<p>If it appears some of your accounts are missing from the left side bar, press the '+' button at the bottom of the side bar. Choose 'Advanced'. You should see the missing accounts in the panel on the left - highlight the account name and press 'Add' to move the accounts into the panel on the right. When you're done press OK and these accounts should then be available for selection from within the side bar.</p>
<p>Some QIF files don’t include an 'Initial Balance' for your accounts (sometimes referred to as a beginning balance or a starting balance). If this is the case, you'll see all transactions have imported but the account balance will show a discrepancy.<br>
To fix this, select the account and choose Account --> Edit Account. In this window, you can enter an amount into the 'Initial Balance' field.</p>
<p>For investment accounts, QIF file don’t always carry security prices other than buy/sell prices, so investment account balances may be wrong until you update with the current security prices.</p>
<p>Reminders are not included in QIF files as the QIF file format has no ability to include reminder data.</p>
<hr>
<p>Also, the automatic assignment of categories relates to the 'confirmation process'. This is detailed in <a href="https://infinitekind.tenderapp.com/kb/online-banking-and-bill-pay/confirm-downloaded-data">this article</a> from the Knowledge Base.</p>
<p>When transactions have been downloaded from the bank, they'll be <strong>unconfirmed</strong> which is signified by a <strong>blue dot</strong> in the account register.</p>
<p>To begin the confirmation process, select the first transaction in the register with a <em>blue dot</em>.<br>
A panel will appear on the right of your screen which shows the 'Current Transaction' details. You should amend the category within this panel, then select <strong>Confirm</strong>.</p>
<p>You'll see the <strong>solid blue dot</strong> change to <strong>a blue circle</strong>. Moneydance will then move to the next unconfirmed transaction in the register.</p>
<p>As you go through this process, it will become quicker and easier.<br>
Moneydance will begin to recognise the information you have previously confirmed, and start to suggest the correct categories within 'Similar Payees' in the panel on the right.</p>
<p>The next time you download from the bank many of the <em>correct categories</em> will automatically be assigned, and this will improve as you confirm more transactions.</p>
<p>I hope this information is helpful. Please let me know if you have further questions or need any assistance.</p>
<p>--<br>
Maddy, Infinite Kind Support</p></div>Maddytag:infinitekind.tenderapp.com,2009-01-14:Comment/478476322019-11-18T18:27:04Z2019-11-18T18:27:04ZSwitching from Quicken<div><p>Quicken 2019 now uses QXF files and Moneydance doesn't import those. I tried to start back up on Moneydance where I left off in 2018. all I did is make a mess. Nothing from Jan. 1 2019 Has been confirmed or cleared plus everything didn't down load from the bank. I m still not sure of the basic's of Moneydance but trying to learn.</p></div>Gerrytag:infinitekind.tenderapp.com,2009-01-14:Comment/478476322019-11-19T09:03:10Z2019-11-19T09:03:10ZSwitching from Quicken<div><p>Hi Gerry,</p>
<p>As you correctly stated, Quicken now offers a QXF export format, intended for moving data between different versions of Quicken. We've tried to access this file format, but have so far had little success.</p>
<p>In short, this means there is no longer a way that users of Quicken 2019 can move their data to other programs like Moneydance. We will continue working on this issue, but cannot speculate when, or if, we will be able to access this new file format. To be clear, this is entirely a result of the decision Quicken has made to drop the remaining file format other programs can read. It's hard not to see this as another attempt to lock customers into their software.</p>
<p>Finally, if you still have a previous version of Quicken that can export your data in the QIF format, you can then follow the steps provided in my earlier reply.</p>
<p>Please keep us posted on your progress, thank you!</p>
<p>--<br>
Maddy, Infinite Kind Support</p></div>Maddy