Quicken 2002, XG, 2004

How do I convert Microsoft Money 2001 (or later) data to Quicken?

Background: Converting data from Microsoft Money 2001 (or later) requires the use of a Quicken Interchange Format (QIF) export and import that is performed one account at a time.

The following items cannot be converted using the export/import procedure:

Loans

Budgets

Online Account Information

Classification 2

Planner information

Abbreviations, comments

The following items require special steps to be converted:

Long account names

Classification names

Securities

Stock Splits

Solution: Prepare your Microsoft Money data file for export to a QIF file

Rename your Microsoft Money accounts:

Start Microsoft Money, and then from the Accounts & Bills menu, choose Account List.

Right-click an account, and then select Rename.

Enter a new name for the account that is less than 15 characters, does not contain punctuation, and does not duplicate any other account or category names.

Rename the Categories and Classifications in Microsoft Money:

From the Microsoft Money Accounts & Bills menu, choose Categories & Payees.

From the leftmost side of the screen, click Categories.

Select a category to be renamed, and then click Modify.

Enter a new name for the category that is less than 15 characters, does not contain punctuation, and does not duplicate any other account or category names.

Make a note of all Stock Splits. This is required for both current and closed security positions:

From the Microsoft Money Investing menu, choose Portfolio.

From the leftmost side of the screen, click See a different view, and then select Show closed positions.

Right-click the first security in the list, and then select Update Price.

Scroll through the price history, making a note of the Date and Ratio of all of the splits for future reference. This information will have to be manually entered into Quicken before the file is converted.

Repeat this process for each security, including those with closed positions (securities already sold).

Print a list of all securities and ticker symbols:

From the Microsoft Money Investing menu, choose Portfolio.

From the leftmost side of the screen, click See a different view, and then select Holdings View.

From the File menu, choose Print.

Print a list of all account balances:

From the Microsoft Money Reports menu, choose Reports Gallery.

From the leftmost side of the screen, click What I Have, and then select Account Balances.

Click Go to Report/Chart.

From the File menu, choose Print.

Make a note of your online account information:

From the Microsoft Money Accounts & Bills menu, choose Account List, and then select the account that is enabled for online access.

From the leftmost side of the screen, click Change Account Details, and then click Go to Online Setup.

Click Modify, and then follow the on-screen instructions. Make a note of your online account information, such as your routing number and customer identification number (ID).

Print reports or screenshots of other information that must be manually recreated in the Quicken program. This might include areas of the Microsoft Money program that cannot be exported, such as loans and budgets.

Create the QIF files

To create the QIF files, you will need to export each account:

From the Microsoft Money File menu, choose Export.

Select Strict QIF, and then click OK.

Select a location and a name for the QIF file to be created. It is recommended that you use the name of the account that you are exporting, and then click OK.

Select the type of account you are exporting (regular or investment), and then click OK.

Select the account you want to export, and then click Continue.

Prepare your Quicken data file for import from Microsoft Money

To prepare your Quicken data file, you need to create the appropriate accounts in Quicken:

Start Quicken, and if necessary, create a new Quicken file.

From the Quicken Finance menu, choose Account List, and then click New.

Select the type of account.

Name the account. It is recommended that you use the same name as the account you are importing.

If available, select your financial institution from the list. If your financial institution is not available in the list, manually enter the name.

Note: Do not enter any account balances or opening dates and for investment accounts, do not create securities. This information will be transferred in the QIF file created from your Microsoft Money file.

Repeat this process for each account you are importing.

Note: Online account setup can also be completed during this process.

Import an account:

From the Quicken File menu, choose Import, and then choose QIF File.

Click Browse, and then locate the QIF you are importing.

Select the account that will be receiving the QIF information. Generally, these will have the same or similar names as your corresponding export accounts from Microsoft Money.

Select the Transactions and Special Handling for Transfers checkboxes (do not select any other checkboxes), and then click OK.

If you receive a message that an unrecognized Category, Class, or security was found, click Yes to create new categories or classes for these items.

Note: If an imported transaction has a category with the same name as an existing account, the transaction will become a transfer between the accounts.

After the transactions have imported successfully, from the Finance menu, choose Account List, and then double-click the account name to open the register.

If the Compare to Register window opens with the register, click Accept All, and then click Done to accept the transactions into the register.

Manually enter all stock splits:

From the Quicken Finance menu, choose Account List, and then double-click an investment account that has stock splits.

Click Easy Actions, and then select Stock Split.

Complete the setup information that appears on the screen.

Verify your account balances:

From the Quicken Finance menu, choose Account List.

Compare and verify the account balances listed here to those from your Microsoft Money file.

Repeat steps 3 and 4 for each account. Check the balances for all of your imported accounts after each individual import, not just the most recently imported account.

Edit securities to include the ticker symbols:

From the Quicken Investing menu, choose Security List.

Edit each security, and then enter the ticker symbols as printed from your Microsoft Money file.

Customize your download sessions (One-Step Update):

From the Quicken Edit menu, choose Options, and then choose Internet Options.

In the Customize Quicken Download window, click the Quotes tab.

Click each security name that you want to include when downloading price quotes (this will place a checkmark next to the security name), and then click OK.