Moving from Quicken

Bob's Avatar

Bob

16 Jan, 2020 09:49 PM

These may be basic questions but here goes. Is it possible to transfer my Quicken accounts to Moneydance? Also, can accounts be reconciled? Is there an annual subscription fee? Thanks, Bob

  1. 1 Posted by dwg on 16 Jan, 2020 10:26 PM

    dwg's Avatar

    I''m a fellow user.

    To answer your first question have a read of the discussion:

    https://infinitekind.tenderapp.com/discussions/switching-from-another-personal-finance-program/15442-importing-quicken-files

    Moneydance has a reconciliation process see:

    https://infinitekind.tenderapp.com/kb/register-and-transactions/reconciling.

    Moneydance does not use a subscription model. You purchase a license for a specific version and it covers that version and a free upgrade to the next major release for as long as you wish to use those versions, upgrades within those versions are free, the software is not sunset and you can still download as far back as Moneydance 2005 if you are using that version.

    To upgrade to a newer version that what the license allows you receive a 50% discount on the upgrade.

  2. Support Staff 2 Posted by Maddy on 17 Jan, 2020 04:09 PM

    Maddy's Avatar

    Hi Bob ,
    Thank you for contacting Moneydance support.

    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 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.


    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. This key will be valid with all builds of the current release, and also the next major version.

    We never force upgrades or ‘sunset’ older versions of the program, so you can continue to use the same version for as long as you wish.
    That being said, if you did decide to upgrade in the future, you’d be entitled to a 50% discount.


    Finally, if you haven't already, I encourage you to download our free trial version and experiment with the program. You can download the trial version of Moneydance from our website on this page.

    The trial version is fully functional and allows you to manually enter 100 transactions. Imported transactions are not limited, so you'll be able to fully test downloading data from your bank, and importing data from other personal finance software.
    If you decide to purchase the program at a later date you can keep all data you have entered during the trial period.

    You can find the Moneydance Knowledge Base here which will be useful if you're using the program for the first time.

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

    --
    Maddy, Infinite Kind Support

  3. 3 Posted by Bob Forman on 17 Jan, 2020 05:10 PM

    Bob Forman's Avatar

    Thanks Maddy. My first attempt with the QIF did load but not in a coherent fashion. I’ll try it again. Bob

  4. Support Staff 4 Posted by Maddy on 22 Jan, 2020 01:23 PM

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    Hi Bob,
    Please keep us posted on your progress, Thank you!

    --
    Maddy, Infinite Kind Support

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