all q17 inv txns that also xfer import wrong

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fleur

10 Jan, 2020 03:54 PM

Hello,

I'm opening a new discussion after 20 min of searching and clicking on links that don't exist anymore, and I can't see a way to sort search results by date, and I'm getting frustrated.

I'm trying to switch a close to 30yo Quicken 2017 file to Moneydance and it's not easy. I discovered this reddit post that states that Moneydance doesn't handle account transfers to the same account properly, which was my problem also for extra accounts with an X appended to their name being created on import. (https://www.reddit.com/r/quicken/comments/ejnnp9/diary_of_switching_to_moneydance/)

I now think that a large chunk of the rest of the import problems are with any Quicken investment txn type that transfers in addition to whatever else it's doing. For example, I have a lot of regular investments from bank accounts to investment accounts, which show up as the type 'BoughtX'. This is not the only *X type that imports incorrectly. I haven't verified each type, only two, but it looks like any transaction that has the option to either use/deposit cash from the investment account or choose another account, is importing incorrectly (example screenshot attached).

I verified this with some transactions by splitting them into two transactions, one that transfers the cash only and one that does the investment transaction in Quicken and reimporting. It fails whether the transaction is getting cash from a different account or putting cash into a different account.

Is this a known issue? Is there a timeline for a fix?

thanks,
fleur

  1. 1 Posted by fleur on 10 Jan, 2020 03:57 PM

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    To be specific, this is US Quicken 2017 running on Windows.

  2. 2 Posted by jkosa on 12 Feb, 2020 06:02 PM

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    I'm a new user also switching from Quicken 2017 to MD. I found your post while searching for a different issue (build up of txn files in the out folder) and thought I'd bump it up by replying.

    Based on my limited experience and others with more time spent, there are lots of challenges with importing Investment transactions from quicken; I'm still slogging thru to figure them all out. Also I'm pretty sure that investment accounts do not support matching xans when you download from your bank. Once I get converted over, which will be time consuming to fix some things like you mention above, I think it will work ok because I rarely enter my own xans into the register - at this point.

    Sorry I can't be more help - except that maybe others will chime in to help. Jaimi

  3. 3 Posted by dwg on 12 Feb, 2020 08:56 PM

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    I'm a fellow user.

    The problem with transferring money from the same account is that it is an illegal accounting transaction, you cannot just create money which is what such a transaction is doing, Quicken is being "creative" in taking such an approach. Moneydance has no idea where it should draw the money from so creates an account with an X appended to provide a source.

    A BoughtX with funds coming from a bank account should work. If you could provide a QIF file - even a cut down one - that demonstrates the problem it could help to identify the cause of the problem.

  4. 4 Posted by fleur on 12 May, 2020 01:59 PM

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    > The problem with transferring money from the same account is that it is an illegal accounting transaction, you cannot just create money which is what such a transaction is doing

    First, a correction on my part: the 'BoughtX' i mentioned is only the UI representation. In the QIF file, it is 'BuyX'.

    You misunderstood my initial post. A 'BoughtX' transaction is the equivalent of 2 transactions: one funds transfer, and one buy. The funds transfer is from a different account than the one the transaction is in. Moneydance is not splitting them into 2 transactions, which it could do on import to solve the problem.

    For clarity, here is an example BoughtX transaction from my full QIF export:
    D4/ 3' 4
    NBuyX
    YIBM
    I90.457
    Q5.472
    U500.00
    T500.00
    MEst. price as of 4/3/2004
    O5.02
    L[Old Money Market]
    $500.00
    ^

    As you can see, it contains info for both a buy, and an account to get the money from. I actually wrote a script to modify my QIF file and break these transactions into two, and it did fix all the duplicateX account problems. Unfortunately I ran up against other large problems and abandoned the whole attempt.

    If others are interested, SEE Finance imported my 25+ yo Q2017 QIF export with only 3 mistakes. I was gobsmacked after trying around 10 other packages with nowhere near that success. Everything else functionally is so-so, but damn. I had to buy it just to reward the effort that went into their QIF import library.

  5. 5 Posted by dwg on 12 May, 2020 09:46 PM

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    In a test Data set I set up Investment accounts for IBM and Old Money Market plus created a security for IBM

    I then imported your QIF snippet.

    I could not reproduce your problem a BuyXfr transaction was created drawing funds from the Old Money Market Account and using them to purchase IBM securities.

    I've attached a screen shot of the result in the IBM account.

    For reference I used Moneydance 2019.4 (1904) I'm not aware of any changes to the QIF importer in any recent versions.

  6. 6 Posted by fleur on 13 May, 2020 09:55 AM

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    That's odd. Maybe it's something about what happens when looking for the matching transfer in the Old Money Market account's transactions.

  7. 7 Posted by dwg on 13 May, 2020 10:55 AM

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    In the Old Money Market account the transaction should just be an Xfr.

    How the importer reacts to having a BuyX and an Xfr for what is two sides of the same transaction I do not know, there are a number of things it could do and it could even be influenced by if the transactions are in one QIF file or multiple QIF files.

  8. System closed this discussion on 12 Aug, 2020 11:00 AM.

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