Importing Quicken .QIF
Trying to test Moneydance. Imported .QIF however, many of the checking/savings accounts do not match what they should be. Is there a procedure of some type that is required after importing a .QIF to have account balances match to what they should be.
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1 Posted by dwg on 15 Apr, 2022 10:20 PM
I'm a fellow user.
The mot common thing we see with QIF files and these types of accounts is that the QIF file often does not include an initial balance i.e the opening balance when you first started using financial software with accounts that were already in existence.
With many programs the initial balance is entered as a static amount rather than as a transaction hence it is not included in the QIF file.
If you have the account register open in Moneydance and chose the menu option Account --> Edit Account there is a field on this window that allows you to enter any initial balance.
2 Posted by Netspeedz on 15 Apr, 2022 10:32 PM
Already checked the initial balance. There really isn't an initial balance
except for the zero.
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3 Posted by dtd on 16 Apr, 2022 01:06 AM
Repeating:
If you have the account register open in Moneydance and chose the menu option Account --> Edit Account there is a field on this window that allows you to enter any initial balance.
4 Posted by Netspeedz on 16 Apr, 2022 01:08 AM
As stated in earlier response, I've already done that. I entered in zero as
the initial balance. It did not change anything.
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5 Posted by dtd on 16 Apr, 2022 01:11 AM
Um - don't enter in zero! Enter the amount necessary to make all the final values correct. There was an initial balance in Quicken, but the QIF file doesn't pass it over.
6 Posted by dtd on 16 Apr, 2022 01:12 AM
Example: You have a current balance of 100, but it should be 200.
Enter an initial balance of 100, and all should be correct.
7 Posted by Netspeedz on 16 Apr, 2022 01:21 AM
I have checked the initial balance in Quicken - there wasn't any initial
balance when I opened the account. The Moneydance balance is off by several
hundred dollars and some odd cents.
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8 Posted by dtd on 16 Apr, 2022 03:35 AM
.
9 Posted by Netspeedz on 17 Apr, 2022 03:32 PM
Apologies for being short. Entering in an initial balance to 'offset' and
adjust the correct balance just seemed to be a 'band-aid' not a real fix.
In any case, appreciate the assistance. I've discovered that Moneydance
does not support the Bank I use so I would not be able to use it.
J.A. Clark
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System closed this discussion on 17 Jul, 2022 03:40 PM.