balance wrong

judy's Avatar

judy

04 Dec, 2019 05:56 PM

I imported from quicken and balance is wrong. Can't change. Any sugestions?

  1. Support Staff 1 Posted by Maddy on 04 Dec, 2019 06:16 PM

    Maddy's Avatar

    Hi Judy,

    We are sorry to hear about the problem you have encountered.

    • 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.

    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.
    If not, you should export one QIF file for each account in your file.

    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.

    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.
    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.

    When viewing your new data file, choose File --> Import. Then navigate to and select the QIF file.

    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.

    Below this, Moneydance will automatically try to determine the date format and decimal character used within the QIF file.
    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.

    Choose 'Import' and wait a moment while your accounts and data are imported into Moneydance.

    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.

    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.
    To fix this, select the account and choose Account --> Edit Account. In this window, you can enter an amount into the 'Initial Balance' field.

    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.

    Reminders are not included in QIF files as the QIF file format has no ability to include reminder data.

    I hope this information is helpful. Please let me know if you have further questions or need any assistance.

    --
    Maddy, Infinite Kind Support

  2. 2 Posted by judy on 04 Dec, 2019 06:46 PM

    judy's Avatar

    can I delete and start over?

  3. 3 Posted by dtd on 04 Dec, 2019 07:09 PM

    dtd's Avatar

    Just a user here.

    Judy, Yes, you can. I've deleted and started over many times.

    The one issue is that you will use the File/New part of the product as noted in the message above vs. the Welcome Window (i.e. Moneydance now thinks you have a file in place). When you do that, some of the accounts may not be in the sidebar (and you will have to use the + key to show them).

    Since I prefer the initial Welcome Window I manually delete the file created by moneydance rather than do File/New, but not everyone will know how to do that.

  4. Support Staff 4 Posted by Maddy on 05 Dec, 2019 09:18 AM

    Maddy's Avatar

    Hi Judy,

    If you wish to delete your data set navigate to Help and click Show Document Folder. A file finder/explorer will open at the default data set location.
    Close Moneydance.
    A data set is a folder containing other folders and files. It has the naming convention yourdatasetname.moneydance. Delete this folder.

    When you start Moneydance, it will open in the last opened data set, unless it was the one you just deleted. In which case it will open in the Welcome window and if there are any other data sets, they will be listed on the right.

    I hope this information is helpful. Please let me know if you have further questions or need any assistance.

    --
    Maddy, Infinite Kind Support

  5. 5 Posted by Dierkdk on 12 Dec, 2019 11:53 PM

    Dierkdk's Avatar

    Also had a number of Incorrect Balances following the import from Quicken to MoneyDance. In our case, MoneyDance assigned a fair number of transactions to an incorrect Category and/or Account.
    Alas, I did not pay sufficient attention, as was simply concerned with Getting Things Right - but once I NOTICED the error was able to correct things using the "Batch Change" function (working with logical data sets).
    From recollection, a significant number of transactions were assigned to the "ATM Withdrawal" category, AND we had an Account with an unusually high balance where all of those transactions were being accumulated.

  6. System closed this discussion on 13 Mar, 2020 12:00 AM.

Comments are currently closed for this discussion. You can start a new one.

Keyboard shortcuts

Generic

? Show this help
ESC Blurs the current field

Comment Form

r Focus the comment reply box
^ + ↩ Submit the comment

You can use Command ⌘ instead of Control ^ on Mac