QIF file import

Pat Hall's Avatar

Pat Hall

04 Jan, 2020 06:32 PM

I am trying to switch from Quicken to Moneydance. I have been using Quicken for almost 30 years and I currently have approx 10 active accounts. I have the trial version of Moneydance installed as well as Quicken 2017. I backed up my quicken data to a .QIF file and then imported that to Moneydance. What came over were ALL the accounts I have ever had in the past 30 years, many of which are no longer active. I'm assuming I can just hide those on the left side bar. Of the 10 active accounts, in general everything came over but I see that some of the accounts have some data missing. I believe the missing data pertains to transfers between accounts.

Is there any way to fix this? I did not see any options or settings when I created the .QIF file. While it seems that importing a QIF file would be a good start at striating with Moneydance, if there is data missing I'm not sure how helpful it really is.

If anyone has any suggestions on how to proceed with this I would greatly appreciate it. Is there any other way to get data from Quicken into Moneydance?

Thanks

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  1. Importing From Quicken Essentials

    The first time you open Moneydance, you'll be brought to the 'Welcome to Moneydance' window.

    If you've moved past the Welcome screen in Moneydance but still need to import your Quicken Essentials data, you can navigate to Window -> Welcome to Moneydance.

    To begin the process, click on the "Migrate From Quicken Essentials" button.

    Screen_Shot_2015-02-04_at_10.26.59_AM.png

    In the window that appears, navigate to your Quicken Essentials Dat...

    See more..
  1. 1 Posted by derekkent23 on 04 Jan, 2020 07:16 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Pat.

    If transaction that are missing relate to account transfers before you do a QIF export in Quicken ensure all closed accounts are re-opened.

    The following is the process I would suggest you try.

    You need to use Quicken to export your data in a QIF file type. Ensure any closed account that have transfers to any open accounts are included in the QIF file, re-open these accounts if necessary.

    Open the QIF file in a text editor. You are looking for the date format used in the file e.g. D25/03'2019 Day Month Year or D5/ 17'19 or D05/31/2017 Month Day Year etc. You will need this information later. If you get this wrong it will be apparent as the dates in Moneydance will be all over the place and you will need to start again creating a new data set.

    QIF files were never meant for transferring data from one program to another, but it’s all that is available, you will need to spend time cleaning thing up when import is complete.

    When you first start Moneydance it opens in the Welcome window click on “Create a new account set”. If you have opened Moneydance before create a new data set under FILE (MONEYDANCE on Mac) – NEW.

    Select “Create New File” (Data Set) and click NEXT. Type in an Account Set Name (Data Set) and click NEXT. Change Primary Currency (base currency), if required. File Type, leave at “Standard Account set”, click FINISH.

    In the side bar (list on left) under BANK deleted the two default Bank accounts, highlighting them in turn and using ACCOUNT – DELETE ACCOUNT.

    NOTE: If you have accounts with currencies that are not in your base currency (foreign currencies) perform the steps under NOTE 1 before importing your QIF file as follows.

    Drag and dropped the QIF file into the side bar (list on left).
    Waited for import window to appear, this can take a few minutes.

    IMPORTANT: Checked all listed accounts are of the correct type and currency and changed if required.

    The “Date Format” should be set to the date format used in the QIF file not the date format you want to use in Moneydance. Select the correct Decimal Character.

    Click import and waited to account values to file in, again this can take some time, it may appear nothings happening.
    Some accounts maybe hidden under the “+” at the bottom of the side bar, added them back.

    Some QIF files don’t include initial account balances. If you think this is the case you can add initial balance to affected accounts as follows.
    Highlighting an account, then click ACCOUNT – EDIT ACCOUNT and add an Initial Balance.

    For investment accounts QIF file don’t always carry security prices other than buy sell prices, so investment account balances maybe wrong until you update with current security prices.

    Reminder are not included in QIF files.

    Any accounts that are inactive (closed) should be made inactive by highlighting the account in the side bar and clicking ACCOUNT – EDIT ACCOUNT and ticking the inactive box. To remove them from the side bar, right click and select REMOVE FROM SIDE BAR.

    Now the real work starts to check balances and tidy thing up. This is especially true of investment accounts as not all action types are supported. But worth it in the end.

    For information on how to use Moneydance see https://infinitekind.tenderapp.com/kb

    Note 1: This section only applies if you have accounts with currencies that are not in your base currency. Ensure “Show on summary page” box is ticked under TOOLS – CURRENCIES – highlight subject currency and double click – EDIT. Note: QIF file do not contain exchange rates. To overcome this QIF file shortcoming the Currency/Security History window must have current and dated exchange rates filled in which cover the date range of transactions in non-base currency account. As well as manually adding exchange rates you can import CSV exchange rate files downloaded from sites on the web. Use IMPORT button in the Currency/Security History window. If you have investment account their balances will probably be incorrect. This is due to the fact that the currency set in the security history windows will be in the Moneydance base currency. You can change to the correct security currency and provided exchange rates exist the values will be converted. As you do this re-calculation occurs, but I think the results should to be correct. No guarantees the section will work correctly.

    Hope this helps.

  2. 2 Posted by Pat Hall on 04 Jan, 2020 07:43 PM

    Pat Hall's Avatar

    Derekkent23,

     

    Thank you very much for that information.  I am going to re-do the entire data import process with the recommendations you provided. 

    Happy new year.

     

    Pat

     

    From: derekkent23 <[email blocked]>
    Reply-To: <[email blocked]>

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