alternative to Quicken

prlesiak's Avatar

prlesiak

19 Mar, 2016 07:55 PM

I am looking for an alternative to Quicken. I need checking account, saving account and credit card account download and reconcile capability. Also I want to be able to track my mortgages. I have 2 homes that have mortgages and I like to be able to see my principal balances and interest payments. I do like the amortization schedule that is available in Quicken. Also, will I be able to track my portfolio with several different brokerages?

  1. Support Staff 1 Posted by Jenny on 21 Mar, 2016 12:04 PM

    Jenny's Avatar

    Hi Renae,

    If you haven't already, I encourage you to download our free trial version and experiment with the program before you decide if you would like to purchase it. The demo 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 importing your data from Quicken.

    If you decide to purchase the program at a later date you can keep all your data, the license key simply unlocks the ability to manually enter more transactions. You can download the trial version of Moneydance here.

    Within Moneydance, you're able to setup all the accounts you've mentioned - Checking, Savings, Credit Card and Loan (Mortgage). I'd recommend checking out the User Guide, the first few chapters specifically which detail getting started and setting up your accounts. The later chapters detail the specific features available in Moneydance, and how to use them.

    You can follow the steps in this article, when exporting your data from Quicken and import to Moneydance.

    Regarding the download capability, Moneydance supports Direct Connect. You can view a list of our supported financial institutions here - http://infinitekind.com/fi

    If your bank is on the list, this means they support direct OFX connections. You can setup online banking with these banks within Online --> Set Up Online Banking. Then select 'New Connection' and choose your financial institution from the list.

    If your bank is not listed, then unfortunately they do not support direct OFX connections. 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 or OFC files (aka Quicken or MS Money files), any of which will import cleanly into Moneydance.

    I hope this information is helpful, please let me know if you have further questions, or if I have missed anything.

    Jenny
    Infinite Kind Support

  2. 2 Posted by prlesiak on 04 Apr, 2016 11:52 AM

    prlesiak's Avatar

    Jenny
    I did the export of my qif files. Maybe I don't totally understand the qif thing. Do I need to import each account into moneydance separately or all together? I have nearly 16 years of info. My checking account etc go back to year 2000. My checking account was the only account that imported correctly. If I attempt to do the inital balance outlined in the manual, the balances just get more out of whack. Example - my savings account is 11,000 but moneydance has it as -89,000. When I tried to do the inital balance adjustment it just gets more negative.

  3. Support Staff 3 Posted by Jenny on 04 Apr, 2016 12:07 PM

    Jenny's Avatar

    Hi,

    We would recommended that you export all your Quicken data into a single QIF file; Doing so makes the import process much smoother. The one exception to this is if you have accounts in more than one currency.

    If you need to export your data as multiple QIF files, you can follow these steps.

    It's important you follow the steps exactly when importing data - In particular make sure you specify to Import into new account rather than existing account. And you set the source to "From another program". If the data hasn't been imported correctly, then the balances will appear incorrectly and initial balance won't resolve this issue.

    The initial balance should be the balance of your account, before the first transaction in your register. For example, if your register goes back to 1st Jan 2016, you’d want to set the 'initial balance' as your actual accounts balance, on that date, before the first transaction. Essentially, Moneydance needs to know what the account balance was ‘before’ the first transaction it knows of. I hope this makes sense, but I can clarify further if needed. Some QIF files include this initial balance transfer some don't it depends on the version of Quicken you are using.

    Please let me know if you continue to encounter issues and we'll work to get this resolved.

    Jenny
    Infinite Kind Support

  4. 4 Posted by prlesiak on 04 Apr, 2016 01:27 PM

    prlesiak's Avatar

    thanks for responding so quickly. I did export in one file. I had the manual in front of me as I did all the steps. But first I did the step that said if there was a lot of data then do the import with just the account info first. Then go back and import again with that box unchecked.

    Also did you see in my message that my mortgage payments are showing up as increases in my mortgage balance? That may have been in a different email.

    So do you think I need to go back and just delete the whole data set? Start over? Try each account separately? I'm really excited to try this because I like the mobile aspect. My quicken had that but it developed problems last May and the quicken techs can't figure out to how rectify.

  5. Support Staff 5 Posted by Jenny on 04 Apr, 2016 01:45 PM

    Jenny's Avatar

    I'd recommend following the steps, without importing the 'Account info only' first. And see if this resolves the issue. You can go to Moneydance File --> New to create a new data set, and can access the data sets within File --> Open. You can create a new data set to try this import, and we can delete the unwanted data sets later when we've got this resolved.

    I'll close the other thread regarding the mortgage issues, and we can get everything working again within this one discussion.
    You can change the 'Parent' for each account within Account --> Edit Account.

    Would you mind sending me a screenshot of the mortgage account so I can better understand the issue you're seeing. With an example of how a few transactions should appear. You can read instructions for taking a screenshot from here. I've assigned the discussion as private so your replies can only be seen by the support team.

    Jenny
    Infinite Kind Support

  6. 6 Posted by prlesiak on 04 Apr, 2016 02:29 PM

    prlesiak's Avatar

    Ok I will try these steps later tonight when I get home. I am on EDT so I won't be home until 1700 but not able to do any work on computer till about 2000. Do any of these times work for you?

    Thanks again

  7. Support Staff 7 Posted by Jenny on 04 Apr, 2016 02:32 PM

    Jenny's Avatar

    I am based in the UK so unfortunately won't be available at that time. However, you can reply to let me know how you get on, and this will either be picked up by another member of the support team, or I will respond first thing tomorrow.

    Jenny
    Infinite Kind Support

  8. System closed this discussion on 04 Jul, 2016 02:40 PM.

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