Advice on import from Quicken 2001 with multiple currencies
Support Staff2 Posted by Ben Spencer on 13 May, 2012 04:51 PM
It may not be what you want to hear and I think that if you
intend to move to a program other than quicken than in your
situation you would be better off starting from an empty file and
do not attempt to move your data from quicken. The QIF file format
doe snot include any currency information on accoutn or exchange
rate information on transactions. This means that the data it
contains is inherently ambiguous. There really is not simple way of
moving multi currency Quicken data into any other program without
doing a lot of manual edits post import.
I am just trying to figure out the least painful way of
completing this task. I gave up on the idea of edtting the .md file
outside of MoneyDance. This seemed just too risky.
I have also previously given up on the approach proposed in the
MoneyDance instructions for importing from Quicken. While I
understand that the main thing gained by importing a single huge
qif with all of the accounts included is a certain amount of
account-account transfer matching, there were too many things that
didn't work correctly on import. The biggest problem with this
approach is that all transfers between accounts in the same
non-base currency result in unmatched transactions involving
conversions to the base currency. Since about half my data involves
CAD accounts (the rest USD, the base currency) there were way too
many duplicate transactions to deal with manually.
My present approach is to hand create the .md file with new
account and category names and assign the correct currency to each
as it is created. Then import individual account qif files one at a
time and change the category for each transaction using the very
useful Batch Change. I am keeping notes on all the gotchas and will
try to publish them here once I have successfully completed this
I look forward to hearing more as I'm struggling with how to
'fix' the incorrect inter-currency transactions that I've
encountered after switching from Quicken a few days ago. There
doesn't seem to be any way of manually editing them.
Support Staff5 Posted by Ben Spencer on 17 Nov, 2012 03:43 PM
Can you give me an example of what you mean when you say "There
doesn't seem to be any way of manually editing them." To edit a
transaction double click it to put it in edit mode. If that isn't
working can you be more specific about what is not working.
I do want to reiterate that if you have a large data set coming
from another personal finance program with multiple currencies
typically the amount of manual work needed to correct the currency
problems post import is not worth the effort. In such situation We
usually recommend that people do not import their data.
Thanks for your reply, but I subsequently solved the problem and have
already explained it to Jon Hoover.
Briefly, when I imported the individual qifs (after first importing the
file info) I changed the currencies as per the instructions but found
that the currency conversions hadn't worked correctly - they remained in
NZD. I then discovered that it was also necessary to edit the individual
account details following the first import of file info, because they
were still in NZD. Things worked fine after I did that and reimported