Maddy on 13 Jan, 2020 07:36 PM
Thank you for contacting Moneydance support.
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.
on 13 Jan, 2020 11:00 PM
Thanks, It worked!
Three lingering questions:
- When I establish a connection between Moneydance and my bank (for bill
payment and downloads), will it replace my current connection between my
current Quicken product and my bank? (I'd like to not burn that bridge
unless I must.)
- Will my bank (Wells Fargo) charge me a fee for the connection?
- After using the 'trial' product, how do I upgrade to the purchase version
of the product?
Thanks again for your prompt assistance.
Maddy on 14 Jan, 2020 09:50 AM
I can see you’ve received a reply from one of our knowledgeable Moneydance customers. To add to this useful information I thought it's worth mentioning that:
1) Moneydance supports automatic downloads via Direct Connect, and you can view a list of financial institutions that support this feature here.
If your bank is listed, you can set this up within Moneydance by navigating to Online --> Set Up Online Banking. Then select 'New Connection' and choose your financial institution from the list.
Most banks require that you contact them to enable Direct Connect before you can download your data from within Moneydance. When you do this, you'll be given the login credentials you need to connect. Generally, these login details differ from those used for ATM or online banking. You can find the steps for setting this up outlined in this article.
This shouldn't interfere with your existing set up.
If your bank does not support Direct Connect, you are still able to easily import your data into the program. The best way to get your files into Moneydance is to use a web browser to download them from your bank's web site.
You can download into QFX, OFX, OFC or QIF files (aka Quicken or MS Money files), any of which will import cleanly into Moneydance. You can find the steps for manually importing your data in this article.
You can also open your banks website directly from Moneydance by selecting Online --> Open Account Website, which makes the download process easier.
2) Unfortunately I believe that your bank will charge you a small monthly fee when Direct Connect services are enabled for a business account. Your bank should advise if you'll receive any charges when you enable this service.
3) When you purchase Moneydance, it’s a one-off payment and not a subscription or a recurring fee.
After purchasing, you'll be sent a license key via email which you can use to register and convert the trial into a fully licensed version.
This key will be valid with all builds of the current release, and also the next major version.
To register, you need to select Help --> Register Moneydance to enter the license key.
Please keep us posted on your progress, Thank you!