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Steps to Take After importing Your Money File into Quicken

Updated: 5/14/2012 | Article ID: GEN82752

After you've finished importing your Microsoft® Money data into Quicken, you are almost ready to go. The following list describes things you need to be aware of and some actions you may need to take before you are completely ready to start using Quicken.

First Steps

Set up your accounts for automatic download

You need to set up your accounts in Quicken so they can automatically download your transactions from your bank and other financial institutions. (You'll need to do this even if your accounts were set up for automatic download in Money.) There are detailed instructions on how to do this in Quicken’s Help. To get there, in the Help menu inside Quicken, choose Quicken Help. Click the Search Quicken Help tab. Search for “Microsoft Money,” then read the topic “What happens after I import data from a Microsoft Money file?”

Set up online bills

If you had any bills in Money set up to be paid online, you'll have to set them up in Quicken as well. (For instructions on how to do this, see the Quicken Help. From the Help menu inside Quicken, choose Quicken Help. Click the Search Quicken Help tab. Search for “Create online payment,” then read the topic “How do I create an online payment?”

Names of accounts and other fields might differ slightly

You might also notice that some of the names of your accounts, payees, categories, or other items appear slightly differently in Quicken than they did in Money. This is due to differences in things like characters permitted and character lengths allowed. You can easily rename any of these if you want to. (For instructions on how to do this, see the Quicken Help. From the Help menu inside Quicken, choose Quicken Help. Click the Search Quicken Help tab. Search for “edit an account,” “edit a memorized payee,” or “edit a category.”)

If your account balances look wrong

Investment account balances in Money and Quicken might not match

In Quicken, the balances of your investment accounts might not exactly match the balances you had in Money because of differences in how the two programs report balances. Money includes the linked cash account in the balance of any investment account. Quicken does not.

Total account balances in Money and Quicken might not match

If you have an investment watch account, the total account balance you see in Quicken might not match the total account balance you saw in Money. This is because Money excludes watch accounts in its total balance, while Quicken includes them.

Issues with the way your data was imported.

If Quicken noted any issues with the way your data was imported, they are recorded in the ”File Import Results” log. You can review this log at any time: From the Quicken Help menu, select Product and Customer Support. In the Troubleshooting section, click the “Microsoft Money® - File Import Results” link.

Multi-currency / unsupported currency

Quicken and Money have different rules regarding currencies. If you deal with accounts or securities in multiple currencies, you may encounter different balances for your affected accounts. If any of your data was impacted by this, it will be noted in the “File Import Results” log. To review this log, inside Quicken, go to Help menu and choose Product and Customer Support. In the Troubleshooting section, click the link that says Microsoft Money: File Import Results.

If your Money file includes a balloon loan

Money stores the balloon amount, whereas Quicken stores the balloon amortized length. When Quicken imports the loan, it will estimate the length. However, this estimation could be incorrect. You should check the estimation and adjust it as necessary.

If something seems to be missing / not imported

Missing Money Plus Home & Business data

If you use Money Plus Home & Business, you will notice that some of your business-specific data—such as Project, Inventory, Customer and Product data—is missing. This is because Quicken currently does not support the import of this business-specific data. However, the rest of your data--your accounts, scheduled bills, categories and transactions--will be imported.

Missing lifetime / retirement planner or budget information

Quicken isn't able to import retirement planning and budget information from Money at this time.

Transfer In/Out Short Not Imported

Quicken does not support Transfer In/Out Short transactions at this time.

Microsoft® Money File Import Results log

If Quicken runs into any issues while it's importing your data from Money, it records them in the "Microsoft Money® - File Import Results" Log. Many of these issues are not significant, such as the name of an account being truncated because a field length is shorter in Quicken than it is in Money. However, any information about significant problems or about data that was not imported is also detailed in this file. To review this log, inside Quicken, got to the Help menu and choose Product and Customer Support. In the Troubleshooting section, click the link that says Microsoft Money: File Import Results.

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