Trying to shift from Quicken...

shaiguday's Avatar

shaiguday

Apr 04, 2020 @ 07:25 PM

I am a Quicken 2017 user and have been trying to migrate my data from Quicken to MD on my Win10 machine.
When trying to export all the quicken transactions MD chugs for a while and completes showing only 2 accounts out of the nearly 2 dozen!
I then tried to export the accounts 1 by 1 into QIF files and import them, but MD messes up the cross account transactions so that fails.
I then tried to go to my Direct Connect institution to download all the available transactions but after finding the bank, and selecting the account, MD's dialog asks for the routing ID, my account #, and the customer ID. There is no place to enter a password.

I am happy to try and work with someone to see if this is a viable alternative, but right now it seems like not... :(

  1. 1 Posted by shaiguday on Apr 04, 2020 @ 07:27 PM

    shaiguday's Avatar

    This might be helpful....it is the window I receive after selecting the institution and account.

  2. 2 Posted by derekkent23 on Apr 04, 2020 @ 07:55 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    HI Shai

    See if the following process helps.

    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.

  3. 3 Posted by shaiguday on Apr 11, 2020 @ 08:10 PM

    shaiguday's Avatar

    Thanks for your help. I was able to start importing the data and got one of the accounts to mirror the state in Quicken. I am still unable to connect to my institution to download transactions. The dialog box provided (shown above) doesn't enable access doesn't match the documentation nor does it progress when the data is entered.

  4. 4 Posted by derekkent23 on Apr 11, 2020 @ 08:45 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    HI Shai

    I don’t use automatic download using Direct Connect I go to my online banks account, download a QFX transaction file and import that into Moneydance.

    If you already have Direct Connect set up with your bank under Quicken then the credential should be the same for Moneydance. If not and your bank supports Direct Connect you will probably have to phone them saying you want to connect using Quicken. If you say Moneydance they probably want think they can’t help as they most likely are not ware they both use the same protocol.

    If this does not help post the name of your bank so support can offer advice.

    Also see https://infinitekind.tenderapp.com/kb/online-banking-and-bill-pay

    Hope this helps.

  5. System closed this discussion on Jul 11, 2020 @ 08:50 PM.

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