Convert from Quicken

phkiernan's Avatar

phkiernan

28 Jan, 2019 11:00 PM

Hi. I want to switch from Quicken to Moneydance. However, all my Quicken 2016 files are saved as QDF datafiles, and when I try to synch with Moneydance it says that the QDF file type in "unknown" (or something like that). So how can I import my old Quicken stuff?

  1. Support Staff 1 Posted by Ethan on 28 Jan, 2019 11:17 PM

    Ethan's Avatar

    Hello,

    Moneydance cannot read QDF files. Only Quicken can do this, since it is a propitiatory format owned by Intuit. To move your data from Quicken, you must first open it in Quicken, and export it in the QIF format. Detailed instructions on where to go from there can be found at: http://help.infinitekind.com/kb/importing-data-from-other-programs/...

    Ethan
    Infinite Kind Support

  2. 2 Posted by George Khawand on 28 Jan, 2019 11:35 PM

    George Khawand's Avatar

    Hi Patrick,

    did the conversion from Quicken to Moneydance work well for you? I am also a Quicken user and thinking about switching. Also, what are you thoughts on Moneydance?

    Thanks,
    George Khawand

  3. 3 Posted by phkiernan on 28 Jan, 2019 11:45 PM

    phkiernan's Avatar

    If this works as easily as you explain it, I can almost guarantee a switch!

    Best Regards,

    Pat

    Patrick Kiernan
    [email blocked]
    301.910.0405

  4. 4 Posted by phkiernan on 29 Jan, 2019 12:41 AM

    phkiernan's Avatar

    Let you know after I download my data. Seems to be taking a heck of a long
    time - though I have like 22 years of data in it.

    Best Regards,

    Pat

    Patrick Kiernan
    [email blocked]
    301.910.0405

  5. 5 Posted by phkiernan on 31 Jan, 2019 01:00 AM

    phkiernan's Avatar

    Okay. So it is all loaded and working. Hooray. However there is nothing much correct with the data. Among the issues:
    - Accounts I brought over seem to have an X at the end of them. Why?
    -The balances and even some transactions are missing.
    -I have all kind of accounts under checking, including my automobile accounts. How can I change it to the correct category?

  6. 6 Posted by RJ on 10 Feb, 2019 06:26 PM

    RJ's Avatar

    I have also found a problem with conversion from Quicken. As an example, I have a Money Market Sweep account. I sold an investment and deposited the funds into the MM account (Balance $10000). I subsequently bought a different investment with those funds and MoneyDance added rather than subtracted the $10000 (Balance $20000). A third line shows a $10000 reduction to buy the second investment, but leaves me with the original $10000 in my MM account which should now be $0 Is there a simple fix?

  7. 7 Posted by dwg on 10 Feb, 2019 08:06 PM

    dwg's Avatar

    I'm a fellow user.

    What you get with QIF files is raw transaction data, how good or bad it is depends on the application creating it, the problem is it is about the only format that can hope to contain decent information but it is not necessarily complete.

    One of the most common problems is the file not including initial account balances. There is an initial balance field in Moneydance that can be used to correct this.

    Other common problems are outlined in:

    http://help.infinitekind.com/kb/importing-data-from-other-programs/possible-problems-after-qif-import

  8. 8 Posted by phkiernan on 10 Feb, 2019 09:28 PM

    phkiernan's Avatar

    Yes, well, I think at this point I'm going to need to cancel MoneyDance.
    Maybe in a few years it will be a bit more ready. Too bad too, as I'm
    really rooting for MD to survive. It seems the best alternative to
    Extortionists at Quicken. But I can't just walk away from 25 years of data
    (or even 5 years).

    Best Regards,

    Pat

    Patrick Kiernan
    [email blocked]
    301.910.0405

  9. 9 Posted by phkiernan on 10 Feb, 2019 09:31 PM

    phkiernan's Avatar

    I fixed all the starting balances. Also got rid of a lot of the duplicates
    and other obvious transaction issues.

    The data has a 1.5M swing in Net Worth and that means too many transactions
    with too many accounts to realistically figure it out.

    Best Regards,

    Pat

    Patrick Kiernan
    [email blocked]
    301.910.0405

  10. 10 Posted by dwg on 10 Feb, 2019 09:57 PM

    dwg's Avatar

    Pat,

    I'm afraid it is never going to be really quick and easy. There is no commonality between the programs and I never expect there to be. So it will always remain a migration exercise to move programs, something some vendors no doubt rely on. make it really difficult or long winded and people will not move. Be thankful that QIF actually exists - because it was developed as a support tool - and without it migrations would be even more difficult than they already are.

    I spent a couple of weeks on my migration.

  11. 11 Posted by Dick and Peggy ... on 10 Feb, 2019 11:29 PM

    Dick and Peggy Johnson's Avatar

    Thank you for the input. I will give that a try. In another example, I periodically updated the value of some property in Quicken, but MD only has it valued at its opening value without any appreciation. I admit that I am just starting, but it is a little disconcerting when the program shows my net worth as a negative.… I like a challenge, but with over 25 years of data this conversion may be a bridge too far. Thanks again, RJ

  12. 12 Posted by Varouj on 10 Feb, 2019 11:39 PM

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    Hello all,
    If you are a long time Quicken user like me (since 1994) it's not worth the effort to convert. Moneydance account structure is completely different.

    I am currently on Quicken 2016, I ran repair data before exporting to QIF in hopes I don't bring ghosted transactions. So my data was clean, I imported and I got all sorts of problems especially in the investment accounts, I have over 20 brokerage accounts over the years and I transferred securities and fund between them, all these transactions are messed up since Moneydance does not support this functionality. My bank accounts, had transactions added or duplicated, categories removed. I had over 100 accounts in Quick with 80% were closed before the transfer with zero balances and all were messed up after the import. I spent a good 30 hours trying to clean up, and since I am using the eval version of Moneydance (to see it will work) I used up the 100 manual data entry limit!! And this is where I stopped. Not paying before I know it's going to work, so i gave up. Then I figured I wanted to know if my data is bad or Moneydance does not know how to import, guess what, moneydance is the issue. I imported the same QIF file into Banktivity and had very few issues mainly stock splits, I fixed those in a couple of hours and was done. Only problem, i don't want to use my Macbook for my money management software since the kids use it too!

    I guess we are stuck with Quicken forever now that after version 2018 export functionality will no longer be available!

    So, if you are a long time Quicken user like me and need to bring the data so that you are using one app for all current and historical reporting then we are stuck, don't waste your time, way too many problem, even Moneydance support had no clue what I am asking about in my emails to support. Unfortunately I cannot send them my entire file to troubleshoot and learn from!

  13. 13 Posted by Dick and Peggy ... on 10 Feb, 2019 11:58 PM

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    Thank you Varouj. Not the message I hoped to hear, but you have saved me a lot of wasted effort. RJ

  14. 14 Posted by phkiernan on 11 Feb, 2019 02:11 AM

    phkiernan's Avatar

    I feel your pain, bro. Mine started in 1994 as well. And I haven't seen a
    worthwhile release since Quicken 2006.

    In the last 24 hours I reconciled myself to a Quicken life. Now, do I want
    to pay the extortion each year, or just update manually. In the end, I'm
    going to suck it up and load Quicken 2019. Gad I hate that Quicken team.

    Best Regards,

    Pat

    Patrick Kiernan
    [email blocked]
    301.910.0405

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