tag:infinitekind.tenderapp.com,2009-01-14:/discussions/switching-from-another-personal-finance-program/17096-converting-shares-to-usdInfinite Kind: Discussion 2020-10-22T13:30:23Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-22T21:48:20Z2020-07-22T21:48:20Zconverting shares to USD<div><p>I'm a fellow user.</p>
<p>Given the forum you have posted in I'm assuming you are talking about when migrating from another software program and performing the initial import of the data.</p>
<p>Once an account has been created it is not possible to change the currency of the account, This is not all that surprising as to do so the software would have to assume you want all the transactions converted to a value based on the new currency.</p>
<p>QIF files contain no currency information they are just numbers, so Moneydance has to assume that the currency is the base currency you have chosen or the specific currency you have assigned to the account.</p>
<p>Within the QIF import window you have the ability to change the currency of the account before you perform the import and the correct currency should be set on each account before you commence importing any data.</p>
<p>I would be starting over.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-22T23:48:14Z2020-07-22T23:48:15Zconverting shares to USD<div><p>dwg</p>
<p>Thank you for the feed back. It was not the answer I was hoping for but<br>
was afraid it was to start over. I have spent a lot of time trying to<br>
move from 40 years of Quicken to Money Dance. Not sure it is worth it!</p>
<p>Jim</p>
<p>Never Stop Serving<br>
Jim Nielsen</p></div>jim99ntag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T00:00:25Z2020-07-23T00:00:25Zconverting shares to USD<div><p>I spent a couple of weeks on and off migrating data. If I knew then what I know now it would not have taken as long, but I did learn a lot, and I have continued to refine the information since.</p>
<p>Only you can decide if it is worth the effort, all I can say is that migrating to any other financial program will take work, it is not a trivial exercise, but as it is your financial life it probably should not be trivial.</p>
<p>In my case I was fed up with Reckon (Think Australian Quicken adaptation) and wanted out. I have also learnt through the exercise that the results returned by Reckon would not always have had 100% legal compliance.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T02:29:20Z2020-07-23T02:29:21Zconverting shares to USD<div><p>dwg</p>
<p>Thank you for the feed back. It was not the news I wanted to hear but<br>
expected it might be the answer. I have spend a lot of time trying to<br>
move 40 years of data from Quicken. I have just been working on<br>
Banking. I have not even started financials. I really want to dump<br>
Quicken but not sure it is worth all the aggravation. Need to mull<br>
over it a little longer.</p>
<p>Mt apologies for unloading on you, just needed to vent.</p>
<p>Jim</p>
<p>Never Stop Serving<br>
Jim Nielsen</p></div>jim99ntag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T02:49:58Z2020-07-23T02:49:58Zconverting shares to USD<div><p>Companies like Quicken rely on it being, an aggravation, PITA, or it being just plain difficult to migrate, Reckon made it even harder by removing the Export to QIF option, do I hear attempted lock in being mentioned.</p>
<p>I'm not trying to scare you but to be completely realistic banking type accounts are normally pretty smooth in the migration, assuming you take the right approach, even in my case the bank and credit cards accounts went pretty well.</p>
<p>Investments tend to be more difficult, for very explainable reasons but they do not make it any easier. The more complex the investment environment the more difficult. I spent most of my time on Investments.</p>
<p>The only significant general advise I could give at this time is to take plenty of data backups. I did and went back a step many times in looking for the best approaches when working on the accounts. I was reviewing the position after each step I took.</p>
<p>The plus side it that I now have a very detailed understanding of my data and how it is structured, and that is despite having a background in finance and computing before I started the migration. In the process I have filled a number of holes that were there and that I did not realise were present.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T02:55:16Z2020-07-23T02:55:17Zconverting shares to USD<div><p>dwg</p>
<p>You have given me something to consider. Are you in Australia and if so<br>
where?</p>
<p>Jim</p>
<p>Never Stop Serving<br>
Jim Nielsen</p></div>jim99ntag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T03:10:12Z2020-07-23T03:10:12Zconverting shares to USD<div><p>I'm in Sydney, Australia.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T03:20:10Z2020-07-23T03:20:11Zconverting shares to USD<div><p>I'm in a small town near Rochester, NY, which is near the western end<br>
of NYS, an 8 hour drive from the concrete jungle every one thinks of<br>
when I mention New York State. We are having a warm sometime hot<br>
summer. Tired of being limited on what we can do. Hope this virus<br>
quiet's down soon. It's almost midnight so I will sign off for now.</p>
<p>Jim</p>
<p>Never Stop Serving<br>
Jim Nielsen</p></div>jim99ntag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T03:31:01Z2020-07-23T03:31:01Zconverting shares to USD<div><p>Well I cannot say it is warm here, but by your standards it would not be cold, just by mine :). I'm probably a bit more familiar with the NE corner of the US having worked for Digital Equipment Corporation.</p>
<p>I think the world is quite a ways off from the virus being under any sort of control,</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T08:33:35Z2020-07-23T08:33:35Zconverting shares to USD<div><p>Hey dwg, just another user (in Melbourne)</p>
<p>and I wanted to jump in and correct a common mis-statement in these fora.</p>
<blockquote>
<p>Reckon made it even harder by removing the Export to QIF option</p>
</blockquote>
<p>The Export to QIF option was only ever (so far as I can tell) <strong>hidden</strong>, not <em>removed</em>.<br>
The combination <strong>Shift+Ctrl+z</strong> returns it to the File | Export menu for the remainder of the session.<br>
I've just now (again) proven that this is correct in Reckon Accounts Home & Business 2020. I fear that many folk believe a lock-in, when the key is in the lock awaiting turning and some MD forum folk perpetuate the misinformation<br>
Cheers,</p></div>tgilbert666tag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T08:58:06Z2020-07-23T08:58:06Zconverting shares to USD<div><p>OK technically not a lock in, but hiding it like that and not providing any information on it is pretty questionable behaviour, I can only arrive at one conclusion as to motive.</p>
<p>Someone posted about how to unhide it some years after I migrated, I never found anything about it online before then. Whether it was in the version of Reckon I had I do not know, I never found any references despite searching for how to export QIF files from the software. By the time the post was made, not only had my version of Reckon stopped working but so had the machine it was on, so trying it was not an option.</p>
<p>I did make note of the key sequence and have been suggesting to anyone that is migrating from Reckon that they should try it and see if it still functions, it would certainly be a lot easier than the path I took.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/484802282020-07-23T13:22:07Z2020-07-23T13:22:07Zconverting shares to USD<div><p>That's great news if that QIF export function is still there but hidden. I've updated our Reckon page (<a href="https://infinitekind.tenderapp.com/kb/importing-data-from-other-programs/importing-from-reckon-personal-plus">https://infinitekind.tenderapp.com/kb/importing-data-from-other-pro...</a>) to include that information before the long workaround process described there.</p>
<p>Ethan<br>
Infinite Kind Support</p></div>Ethan