Possible problems after QIF import from Quicken

Q0: Why are my account balances all wrong after the QIF import?

A0: Did you follow the instructions here:
If not please start again with a new blank moneydance date file (File->New...) and perform the import following the instructions.

In particular make sure you specify to Import into new account rather
than existing account. And you set the source to "From another program".

Q1: My foreign currency transfers are all using the wrong exchange rates.

A1: I am afraid I have bad news. QIF files do not contain any currency or exchange rate information. Moneydance is using the current rate on all foreign currency transfers. There is no way to get the correct exchange rate information out of Quicken for your transactions. To confound things even more you are going to get duplicates for every foreign currency transfer because the amounts are different on each side and MD can't match them up.

If you have a lot of foreign currency transfers in Quicken and you want to move to any other personal finance program you may want to consider starting your data set from the beginning of the year rather than trying to import all of your data.

Q2: The dates on my transactions are all wrong after the QIF import. Many now have future dates. Why has Moneydance ruined everything?

A2: The QIF file can store the dates in one of 3 different formats. The QIF file doesn't tell Moneydance which format it is using. The date format used in the QIF file is not necessarily the same as the date format the user had specified for display purposes in Quicken. The Moneydance QIF import window has a "Date Format" option. You should create a new blank .md file and do the import with one of the other "Date Format" options that they haven't tried. Repeat until the dates right.

Q3: I am getting extra transactions in MD on transactions that are splits and the split includes a transfer to another account and there was more than one entry for that account in the split.

A3: Make sure that you are running at least MD2011r2

Q4: Why are my account balances still all wrong after the QIF import?

A4: If it is not one of the above problems the most likely cause is the QIF file did not include an initial balance transfer as the first transaction for the account. Some QIF files include this initial balance transfer some don't it depends on the version of Quicken you are using. You need to set the initial balance on your accounts in Moneydance manually. To do this go into the account register in Question and select Account->Edit Account... You can set the initial balance there.

Q5: There are a number of categories in MD with x's at the end of the category name. Why has Moneydance created these categories?

A5: These were hidden categories that Quicken was using behind the scenes for various reasons depending on the version of Quicken. Quicken included them in the export. Some might be used for the initial balance transfer. I have seen others that include a number of $0.00 transactions that look like they were used for storing budget information. Generally speaking these xxxxx categories can safely be deleted. However you should look and the transactions inside the category to make sure before deleting it.

Q6: Why do all of the transactions I imported have the same category? Do I have to re-categorize all my imported transactions?

A6: It's likely that your settings were slightly incorrect when you imported the QIF file. It's important to be sure the "File Source" is set to "From Another Program". See Screenshot below.


Q7: Why are some of my transfers duplicated even when they are in the same currency?

A7: Are the dates the same on both sides of the transfer. Some version of Quicken support different dates on the other side of transfers. Moneydance cannot match the two sides of a transfer in such a case.