Switching to MoneyDance
Richard
Hello,
I am looking for a programme to replace MS Money UK, and am evaluating MoneyDance. I have a few questions:
The trial version is very limited so I can't really test how accurately I can import my Money data into the programme. How smoothly is this likely to go? Will transfers between accounts (some in differing currencies) be handled correctly? Will my extensive portfolio history be imported correctly (ie many years of dividends, buys, sells, premium bond transactions?)
How will MS Money "project" and "trip" fields be imported? Will they be automatically converted to "tags"?
My MS Money categories differ from the default MoneyDance categories - what will happen when I import accounts?
Can Moneydance download UK fund prices? I have not managed to get it to do this. Also, can it download Swiss funds? Can it handle multi-currency portfolios?
Grateful for any help.
Thank you
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2 Posted by james f on 17 Mar, 2012 12:45 PM
The trial mode for Moneydance is not limited in anyway with the exception of the number of transactions that you are allowed to manually enter. That is limited to 100 manually entered transactions. Other than that, Moneydance in trial mode is fully functional.
QIF is a very finicky and flaky file format. It has some very odd nuances. I'm not certain as to what will be transferred over to Moneydance?
It's not so much a question of what will be imported, but rather a question of what will be exported from MS Money using QIF and how it's exported.
I'm going to defer commenting about the types of accounts that QIF export handles for I am not too certain as to how well it handles portfolio accounts and multi-currency issues.
Support Staff 3 Posted by Ethan Tupelo on 17 Mar, 2012 01:01 PM
Hello,
The only limit to the trial version is that one can only make up to 100 manual transaction entries. Importing data from another program does not count against this total. You should therefore be able to completely test importing all of your data to see how it goes for you, plus a limited amount of some of the other manual entries you mentioned.
We have detailed instructions on how to successfully import from MS Money at this link. Many of your other questions are answered there. As for the ones that aren't:
Transfers themselves should be imported correctly. However, a limitation of the QIF file is that it does not contain any currency information. We usually recommend if someone has a lot of transfers in a foreign currency that they consider starting their data set from the beginning of the year rather than trying to import all of the data.
In general, as long as you follow the instructions on the above link, any category you had in MSMoney should be created in Moneydance, and all of the transactions should be in the appropriate category. You can later delete empty categories you are not using.
If securities can be found on finance.yahoo.com, you should generally be able to automatically download the security history and current value using the quotes and exchange rates extension. Unfortunately, primarily because of changes in the way Yahoo offers data and little other free information from other websites, many users have had difficulty getting UK and other non-US prices, which you can read more about at this link.
Please let me know if I can be of further assistance,
Ethan Tupelo
Moneydance Support
4 Posted by Richard on 17 Mar, 2012 02:31 PM
Unfortunately this is a showstopper for me if Moneydance can't handle UK fund prices. I could live without Swiss domiciled funds as I only have one, but I am not going to update by hand all my UK funds.
Support Staff 5 Posted by Ben Spencer on 18 Mar, 2012 04:19 PM
I am sorry that Moneydance does not currently meet your needs.
Sincerely
Ben Spencer
Moneydance Support
Ben Spencer closed this discussion on 18 Mar, 2012 04:19 PM.