Quicken to MoneyDance

Jimmy Cox's Avatar

Jimmy Cox

Feb 16, 2018 @ 02:34 PM

Hi there,

My bank, CIBC, is not listed as a bank that is compatible with direct connections. However I am fine uploading the CSV file from my bank into MoneyDance.

Can you tell if your software will automatically categorize the transactions based on prior caterogies?
Does your software have a history of missing transactions when uploading CSV files?
I am using Quicken at the moment but absolutely hate the program. I misses many transactions from CSV imports but also imports incorrect data, like incorrect dates.

My main goal with software like yours is to see my household and business spending each year. Just a simple categorization of all expenses and income.

Can your software provide that solution, as Quicken has not been reliable.

Many thanks

  1. 1 Posted by -Kevin N. on Feb 16, 2018 @ 03:15 PM

    -Kevin N.'s Avatar

    Hi Jimmy,

    Moneydance can import formatted CSV files into Bank and Credit Card accounts. It can not import CSV files into Investment accounts. Moneydance provides a built in importer. There is also an excellent free, third-party importer.

    Can you tell if your software will automatically categorize the transactions based on prior caterogies?

    Moneydance 'learns' the correlation between the 'Description' and the 'Category' once the transaction has been 'Confirmed'. Going forward, Moneydance will either automatically select the category or it will offer it as in the 'Similar Payee' section of the Confirmation sidebar.

    Although, I'm not a huge CSV file user, I've not encountered missing transactions. I suppose though that in the case where you have two identical transactions on the same day from the same vendor, then that may be an instance where the software may flag one of those transactions as a duplicate and skip it from the import.

    My main goal with software like yours is to see my household and business spending each year. Just a simple categorization of all expenses and income.

    Moneydance provides several reports that can generate results based on individual categories from one or multiple source accounts.

    If i may make a suggestion, download the free, trial-version of Moneydance to see if it suits your needs. You can d/l it here:
    http://infinitekind.com/download-moneydance-personal-finance-software

    Kevin N. (not a member of MD support)

  2. 2 Posted by Syd Baxter on Feb 18, 2018 @ 12:36 AM

    Syd Baxter's Avatar

    My experience is that a QFX file, which is available from CIBC (in some banks shown as Quicken to select) is a better import option. I use TD but the process is the same. My experience also is that Moneydance gets better over time in matching, provided one follows the "confirm" process. I took too long when starting with MD to pay attention to this.

  3. System closed this discussion on May 20, 2018 @ 12:40 AM.

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