Merging Money Files / Importing Data

Instructions were extracted from article by Glyn Simpson

A reader has asked how he can merge a Money file that he created for his Family Trust into his personal Money file, and I remembered that quite a while ago, Glyn had written a thorough process for importing and exporting data using the QIF format.

  • You cannot export and import Inventory, scheduled or recurring bills or deposits, business data (invoices and customers) and planner data using this mechanism, and these will need to be entered by hand.
  • Loan accounts cannot be exported.
  • Although not strictly necessary, the process goes much smoother if you first create any new accounts contained in your source file,  in your target Money file with the same names and types (make sure they have zero balances).
  • If you have transfers between accounts which are in different currencies, then you might find that these don’t import correctly, as the QIF export does not contain details of exchange rates used. Some manual work might be required to sort these out, including re-entering the transactions and deleting some of the imported data.
  • It has been reported that there could be a 500 transaction limit when importing (both OFX and QIF file format). If your file is particularly large, you may need to split it up into separate downloads from the financial institution.

 

Exporting your accounts from Money (or other programs)

  1. Choose ‘File’->’Export’
  2. Select the ‘Loose QIF’ option
  3. Enter the name of the account in the filename box – this makes it easier to identify the accounts you have exported
  4. Choose the type of account, i.e. ‘Regular’ for checking, savings accounts etc and ‘Investment’ for your investment accounts
  5. Select the account from the ‘Account List’ box
  6. Click ‘OK’ to export the account

You’ll need to repeat this for every account, including closed ones if you need them (open them first).

Importing exported accounts into Money

  1. Start a new Money file (if required) by clicking ‘File’->’New’
    (optional: create Accounts prior to importing)
  2. In the filename box, give your new MS Money file a name
  3. Click ‘File’->’Import’
    (or ‘File’->’Import’->’Recover Accounts’ in Money 2005 and 2006)
  4. Select the QIF files you wish to import. When importing your QIF files into Microsoft Money, you will need to make sure you select them all to import at the same time, because then transfer transactions should be picked up properly.
  5. Click on the Import option
  6. Select ‘As a new or recovered account’ and then press ‘ok’
  7. On the next window, make sure you match the QIF files with the correct accounts – you’ll need to do this multiple times
  8. Click OK to finish