Subject: Incorrect Beginning Statement Balance After Importing Microsoft Money QIF Files
Hello,
I am a new Moneydance user and imported my data from Microsoft Money into a new Moneydance file named Moneydance_2023_Forward using QIF files.
The import itself appears to have been successful:
Moneydance version: 2024.4 (Build 5253)
All account balances match my bank statements.
Transactions imported correctly.
Transfers are working correctly.
Reminders are working correctly.
However, I cannot reconcile any of my imported accounts.
For example:
Santander Checking
Register balance matches my bank statement.
When I open Reconcile, the Beginning Statement Balance is incorrect.
The same problem occurs with USAA Checking and other imported accounts.
While investigating, I noticed something that may be related:
Every account register begins with an Opening Balance transaction dated 01/01/2023, which is correct because I intentionally imported data beginning on 01/01/2023.
However, Edit Account shows:
Start Date: 01/01/2026
Initial Balance: 0.00
This is true for multiple accounts.
I have not performed any reconciliations since importing, and I have not changed the opening balance transactions.
My questions are:
Is it normal for the Edit Account Start Date to differ from the Opening Balance transaction date?
Could this cause the incorrect Beginning Statement Balance during reconciliation?
What is the recommended way to initialize or reset reconciliation for accounts imported from Microsoft Money without affecting my transaction history or balances?
Thank you for your assistance.
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1 Posted by -Kevin N. on 19 Jul, 2026 12:29 PM
Hi ibemont.1,
Let me first congratulate you on a well-written, informative post. :)
I may be talking out of school with regards to the 'Start Date' but I think that that is only informative and plays no role in reconciling.
The 'Initial Balance' field can be populated with the same value as your 'Opening Balance' transaction (if you prefer). It's up to you but, again no impact on reconciling. (except if the Opening Balance transaction were not marked as 'Cleared')
The Beginning Statement Balance and Reconciling overall rely heavily on the 'C' or (Cleared) column. There is a Moneydance KB article that explains the various conditions that can affect the Beginning Statement Balance. Take a look and see if it helps.
https://infinitekind.tenderapp.com/kb/register-and-transactions/rec...
-Kevin N. (not a member of Moneydance support)
2 Posted by Stuart Beesley ... on 19 Jul, 2026 01:44 PM
Refer:
https://infinitekind.tenderapp.com/discussions/problems/118812-ques...
3 Posted by Stuart Beesley ... on 19 Jul, 2026 01:45 PM
FYI. Opening balance is irrelevant. What matters is whether you can reconcile to the closing balance.
4 Posted by ibemont.1 on 19 Jul, 2026 03:22 PM
How is the Beginning Statement Balance calculated?
In Santander Checking it is -$25,671.14, even though:
the account balance is correct,
the register begins correctly on 01/06/2023,
the Opening Balance has been replaced with an Initial Balance,
there are no earlier visible transactions.
In another imported account (USAA Savings), the Beginning Statement Balance is $1,481.86, which matches the account balance.
Why is Santander different, and what data is Moneydance using to calculate the Beginning Statement Balance?
5 Posted by dwg on 19 Jul, 2026 09:48 PM
If you read the Knowledge Base article that Kevin highlighted it explains how the beginning statement balance is calculated.
6 Posted by ibemont.1 on 20 Jul, 2026 09:32 PM
I don't care about reconstructing reconciliation history from 2023.
My checking account balance is correct, and my current Santander statement ending balance is $2,266.25.
Is there a supported way to establish a new reconciliation baseline at the current statement, so that future reconciliations start from $2,266.25 without having to resolve historical cleared-status issues?
If so, what is the recommended procedure?
7 Posted by dwg on 20 Jul, 2026 09:36 PM
If you are satisfied that everything is correct then in the register select all items, or all older transactions, the standard O/S short cut keys works, right click, and select mark as cleared.
8 Posted by ibemont.1 on 20 Jul, 2026 11:17 PM
ok...thank you, that worked. I will be writing again because the next account is not matching the last statement. I will send details...thank you for your answers and suggestions