Import From Banktivity Multiple Currency Accounts

Confused Banker's Avatar

Confused Banker

20 Apr, 2021 07:31 AM

I'm a disaffected Banktivity user trying to find alternatives and hence I am looking at Money Dance.

I have hit a number of problems that have made this look unachievable, but rather than throw in the towel I am asking first.

I have four working currencies in my Banktivity setup. QIF being a severely lacking but necessary evil doesn't handle currency, so my Banktivity export comes in four different files, one each for AUD, EUR, GBP and USD.

If I import each of these files sequentially I get duplication of accounts, because my money has travelled from GBP through an intermediary account which handles the FX and into the target account. If I import the (target) AUD accounts it generates the FX holding account. When I then import the (source) GBP accounts it generates the same holding account again, despite it having the same account name in the transfer records of both the GBP source account and the AUD target account.

How do I merge these duplicated accounts?

Also when I load the first QIF file it generates a phantom account that has no name but a whole bunch of transactions that relate to a variety of different accounts.

I have tested the QIF files with other packages and they have managed a generic import without issue.

Also on a fresh install of MoneyDance the import from another system presents me with the import screen which outlines the accounts, their type and their source currency. I can see no way to expand the currency list from the defaults offered, which means I am unable to start from the QIF files and have to create a MoneyDance file define the default currency and then run imports.

Thanks for help and pointers...

  1. Support Staff 1 Posted by Maddy on 20 Apr, 2021 08:21 AM

    Maddy's Avatar

    Thank you for contacting Moneydance support.

    You would need to export your data from Banktivity to the QIF file format in order to import it into Moneydance.

    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.

    Finally, it may be worth referring you to this article of the Knowledge Base on Possible Problems After QIF Import.

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

    Maddy, Infinite Kind Support

  2. 2 Posted by Confused Banker on 21 Apr, 2021 03:15 AM

    Confused Banker's Avatar

    I do not understand your answer as it doesn’t seem to relate at all to my question.

    There is a phantom account with no name that is generated. It contains a number of records from actual accounts that have names.
    Phantom Accounts

    When I investigate these with the Show Transaction Details window those transactions have the same identifiers as the “duplicated” transaction in the correctly named account.

    This is an excerpt from the first pass with file import0.qif - this contains all of the AUD transactions.

    AUD Accounts Import

    It has identified transactions within my AUD accounts that relate to my transfer accounts (in other currencies) and has created the account to manage those. I have renamed them to the correct currencies.

    This is the second pass with import1.qif - this contains all of the GBP transactions

    GBP Accounts Import

    This is ignoring the previously created transfer account and is creating a second account (I have left it with the default AUD currency for the purposes of clarity in my description, but even when it is set to the correct currencies it generates two identically named accounts).

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