Import QIF without creating a bunch of other accounts?

Phrede's Avatar

Phrede

18 Mar, 2023 10:27 PM

I'm trying to migrate from Quicken. The goal is to not have old closed accounts in the new system. I have created QIF files for each account I want in Moneydance. When I import the QIF there are many new accounts created that I don't want. Must I start over without importing anything from Quicken?

  1. 1 Posted by dwg on 18 Mar, 2023 10:53 PM

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    If the QIF file contains transactions that are a transfer of funds between that account and another account then the other account will also be created.

    Moneydance's transaction handling is built around the rules of double entry accounting and as such each transaction must have a source and destination, it is not possible to just have one "side" of a transaction.

    A single account is never a silo and fully self contained it also involves categories at the very least and these are nothing more than specific types of accounts.

  2. 2 Posted by Phrede on 18 Mar, 2023 11:27 PM

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    Thanks for the reply.

    If I understand correctly, If the automatically created account is deleted any transfers associated with that account are also deleted from ALL accounts? There are no placeholders. I really don't want to continue carrying accounts that have been closed for decades.

    It really makes the importing of QIF files useless to me. I guess I'll need to re-install completely (since AFAIK there is no way to delete all data sets) and enter all transactions and categories manually from a given starting date. This will make any reports useless also since they will only be to whatever that start date is.

    Is there any way to delete all catagories?

  3. Support Staff 3 Posted by Ethan on 18 Mar, 2023 11:56 PM

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    Hello,

    To create a new data set, simply go to File -> New from the menu bar. To delete data files, please see: https://infinitekind.tenderapp.com/kb/file-locations-and-changes/de...

    I'd suggest a different option. Import your data with all of the closed accounts. Then go to Tools -> Account from the menu bar. Click to edit a closed account listed there, and in the Edit window, choose to make the account as Inactive, and also to hide it from the Summary screen. Repeat for all other closed accounts. If they are still listed in your left sidebar, click on the 'plus' icon towards the bottom of the sidebar, and remove the closed accounts.

    This process will hide them from most places in the program. The data will still be there for reports, and you can always access the registers again from Tools -> Accounts, which should be the only place they're listed.

    Ethan
    Infinite Kind Support

  4. 4 Posted by dwg on 19 Mar, 2023 12:16 AM

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    When I migrated, I imported some 70 accounts, most of which were by then closed, but all of which somehow linked directly or indirectly with still open accounts. Those accounts either got created with incomplete data if I did not import everything or if I imported and deleted them it would have deleted all transfers to and from them, thus destroying data and the balance in my still open accounts.

    I did what Ethan suggested, which is what most of us do if we have imported data, and marked all closed accounts as inactive and removed them from view.

    I would say that anyone with long term investments will face this problem as it is rarely possible with investments to just start from today.

  5. 5 Posted by Phrede on 19 Mar, 2023 01:09 AM

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    1. I deleted the data set files and the data set was still there.
    2. After uninstalling and re-install settings and data was still there. I then uninstalled and manually deleted every folder I could find related to moneydance. That appeared to reinstall fresh.

    Just to make sure I'm thinking correctly. If I import I must manually go to every stale account, one by one, and mark it inactive, then remove it from appearing in the side bar. Then I must do the same thing, one by one, with every stale category? Is this right? If this is correct, it will likely be quicker, although still many, many hours for me to just start over.

    I do appreciate the help, really.

    Is there any way to not assign a default category? I would rather have no information than have incorrect information.

  6. 6 Posted by dwg on 19 Mar, 2023 01:17 AM

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    I created a category called "Uncategorized" and have it as the default category.

    All transactions must have an entry in the category field, this is how Moneydance ensures compliance with the double entry account rule.

  7. System closed this discussion on 18 Jun, 2023 01:20 AM.

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