The most common cause of this problem that we see is that the QIF file that Quicken produces does not contain an initial balance. Usually when people start using software they already have an account and it has money in it, so when starting off you need to set the balance to what the account has in it at the time just prior to using the software to record transactions.
In Moneydance this is referred to as the initial balance and it is set in the Account info window which you can access by opening the register of the account and then using the menu item Account --> Edit Account.
By opening Quicken and looking at the register I think it shows the initial balance as the very first entry., or at least I think it did in the version I had many years ago.
Thank you, you are exactly correct. I figured that out after posting the question. It sure would be helpful if that were denoted somewhere in the document that tells you how to import QIF files!
Now that I've got this figured out, though, I've since encountered a couple of other sizable problems so I'm back to the discussion board to find answers to those questions...thanks again!