multiple bank accounts and transfering data from QB to your platform

Gina Laughlin's Avatar

Gina Laughlin

19 Apr, 2024 04:02 PM

I am trying to find an alternative to QB. I only want software that is on my computer, not on line and not subscription. I have multiple bank accounts so each bank account needs a "file". I keep all my bank accounts current, all entries go into their appropriate expense, etc categories and at the end of the year, I use the software to produce my P and L's in detail for manual entry into Turbotax. This is all I use anymore for bookkeeping. Would your software do this and how easy or difficult would it be to reconcile my data from QB into your data base? Please advise and thank you, Gina Laughlin

  1. 1 Posted by dwg on 19 Apr, 2024 04:52 PM

    dwg's Avatar

    I'm a fellow user.

    I will attempt to answer at least some of your questions.

    The Moneydance software is on your computer and the core software can be purchased for a one off cost, there is a subscription if you want or need automated transaction downloads with Moneydance + this pays for the aggregation service, but is entirely optional, many of us do not use it.

    Within a Moneydance data file - called a data or account set you can create as many individual accounts as you need, I know over the years I have racked up 70+.

    P&L is not used in personal finance, rather Income and Expense reports is the equivalent and Moneydance can provide these as both a summary and a detailed report.

    Getting data from Quickbooks is difficult, Intuit do not provide any sort of universal export format, and as it is proprietary software there are no third party solutions to this.

    QuickBooks doesn't allow exporting to QIF, which is the most common format used. Only the Intuit Interchange Format (IIF) is supported.

    An IIF to QIF converter will not solve the problem either, as journal entries can not be exported in IIF format, only lists are exportable.

    A potentially viable way to overcome this problem is to set up a journal report, to show all journal entries. Print the report using the "print to file" option. Set the file type to Excel before printing. Rename the extension of the resulting file from PRN to CSV.

    Use this XL2QIF Excel macro to convert to QIF. The Excel file may need to be reorganized to generate the appropriate format for the macro to work, such as separating cheque accounts from term deposits, etc. The above referenced Excel macro supports split transactions.

    I would suggest before making any decisions your download, install and test drive Moneydance in trial mode to see if it would be suitable for you.

  2. 2 Posted by Gina Laughlin on 19 Apr, 2024 06:14 PM

    Gina Laughlin's Avatar

    Sent from my iPhone

    On Apr 19, 2024, at 10:52 AM, dwg <[email blocked]> wrote:

     pre { width: 92%; margin: 10px 2%; padding: 5px 2%; background: rgb(239, 239, 239); border: 1px solid rgb(214, 214, 214); } blockquote { margin-left: 0px; padding-left: 1em; border-left-width: 5px; border-left-style: solid; border-left-color: rgb(204, 204, 204); }

    // Please reply above this line
    ==================================================

    From: dwg

    I'm a fellow user.

    I will attempt to answer at least some of your questions.

    The Moneydance software is on your computer and the core software can be purchased for a one off cost, there is a subscription if you want or need automated transaction downloads with Moneydance + this pays for the aggregation service, but is entirely optional, many of us do not use it.

    Within a Moneydance data file - called a data or account set you can create as many individual accounts as you need, I know over the years I have racked up 70+.

    P&L is not used in personal finance, rather Income and Expense reports is the equivalent and Moneydance can provide these as both a summary and a detailed report.

    Getting data from Quickbooks is difficult, Intuit do not provide any sort of universal export format, and as it is proprietary software there are no third party solutions to this.

    QuickBooks doesn't allow exporting to QIF, which is the most common format used. Only the Intuit Interchange Format (IIF) is supported.

    An IIF to QIF converter will not solve the problem either, as journal entries can not be exported in IIF format, only lists are exportable.

    A potentially viable way to overcome this problem is to set up a journal report, to show all journal entries. Print the report using the "print to file" option. Set the file type to Excel before printing. Rename the extension of the resulting file from PRN to CSV.

    Use this XL2QIF Excel macro to convert to QIF. The Excel file may need to be reorganized to generate the appropriate format for the macro to work, such as separating cheque accounts from term deposits, etc. The above referenced Excel macro supports split transactions.

    I would suggest before making any decisions your download, install and test drive Moneydance in trial mode to see if it would be suitable for you.

    On Fri, Apr 19 at 09:02 AM PDT, Gina Laughlin wrote:

    I am trying to find an alternative to QB. I only want software that is on my computer, not on line and not subscription. I have multiple bank accounts so each bank account needs a "file". I keep all my bank accounts current, all entries go into their appropriate expense, etc categories and at the end of the year, I use the software to produce my P and L's in detail for manual entry into Turbotax. This is all I use anymore for bookkeeping. Would your software do this and how easy or difficult would it be to reconcile my data from QB into your data base? Please advise and thank you, Gina Laughlin

    Having trouble reading this? View this discussion online: multiple bank accounts and transfering data from QB to your platform.

    Reply with #ignore to stop receiving notifications for this discussion.

  3. 3 Posted by dtd on 19 Apr, 2024 10:15 PM

    dtd's Avatar

    Often replying by email yields no new content, but just a copy of the last post.
    You should probably link to
    https://infinitekind.tenderapp.com/discussions/switching-from-another-personal-finance-program/24632-multiple-bank-accounts-and-transfering-data-from-qb-to-your-platform

    to post your reply to dwg.

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