Importing Quicken .QIF

J.A. Clark's Avatar

J.A. Clark

15 Apr, 2022 09:40 PM

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.

  1. 1 Posted by dwg on 15 Apr, 2022 10:20 PM

    dwg's Avatar

    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. 2 Posted by Netspeedz on 15 Apr, 2022 10:32 PM

    Netspeedz's Avatar

    Already checked the initial balance. There really isn't an initial balance
    except for the zero.

    ------------

  3. 3 Posted by dtd on 16 Apr, 2022 01:06 AM

    dtd's Avatar

    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. 4 Posted by Netspeedz on 16 Apr, 2022 01:08 AM

    Netspeedz's Avatar

    As stated in earlier response, I've already done that. I entered in zero as
    the initial balance. It did not change anything.

    ------------

  5. 5 Posted by dtd on 16 Apr, 2022 01:11 AM

    dtd's Avatar

    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. 6 Posted by dtd on 16 Apr, 2022 01:12 AM

    dtd's Avatar

    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. 7 Posted by Netspeedz on 16 Apr, 2022 01:21 AM

    Netspeedz's Avatar

    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.

    ------------

  8. 8 Posted by dtd on 16 Apr, 2022 03:35 AM

    dtd's Avatar

    .

  9. 9 Posted by Netspeedz on 17 Apr, 2022 03:32 PM

    Netspeedz's Avatar

    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

    ------------

  10. System closed this discussion on 17 Jul, 2022 03:40 PM.

Comments are currently closed for this discussion. You can start a new one.

Keyboard shortcuts

Generic

? Show this help
ESC Blurs the current field

Comment Form

r Focus the comment reply box
^ + ↩ Submit the comment

You can use Command ⌘ instead of Control ^ on Mac

Recent Discussions

06 Feb, 2023 05:28 AM
06 Feb, 2023 04:16 AM
06 Feb, 2023 03:50 AM
06 Feb, 2023 02:39 AM
06 Feb, 2023 02:00 AM