This is really confusing at first as you suddenly have 36 accounts instead of 18 and the balances look wrong. When you import accounts with self-transfers, MD creates duplicate account names with an X appended (Savings & SavingsX) with the self-transfers in the X account. A problem comes up in that Q will have a transfer in an account back to itself - for a balance forward, or a balance adjustment. The biggest issue is that in Q a category is used to classify a transaction or set up a transfer. Frankly, I expect QXF to be the only option available soon as Q tries to lock customers in by holding their data hostage. These are entirely proprietary and cannot be opened by virtually anything except a legal copy of Quicken.
#Moneydance review full
It does its best to generate the full set accounts, categories, etc as specified by the file.Ī note here: the QIF layout has been well documented & understood for decades, but Q also provides "QXF" format files. In MD you create a new file then import the QIF. The resulting file can be opened in Notepad if you're nosy and contains lines representing the parts you chose to export (transactions, investments, categories, etc). To transfer data, you use File/Export/QIF in Q.
#Moneydance review code
You purchase a license code (I found a discount on Amazon) and register with an option on the Help menu to completely unlock.
#Moneydance review download
You can download the current version of MD from the company's website for Windows, Mac, or Linux and try it out with very few restrictions.
Creating and managing your budget is a breeze, and the reporting options are excellent too, particularly if you're skilled enough to program your own tailored reports.Moneydance (MD) was the closest replacement for Quicken (Q) I could find, so when I decided to leave Quicken (after over 25 years) due to the new "subscription" (and block 40% of the screen if you don't re-up) and bugginess I decided jump in and thought I'd share some experiences of our first weeks with MD: By connecting to checking, credit card, investment and loan accounts, Moneydance allows you to stay on top of all your balances and transactions as they occur, and even when you're out and about, with its mobile app. Moneydance delivers top-of-the-line software, offering most of the more advanced money management features that anyone is likely to want. Moneydance offers specialized investment report options, so you'll always know how your investments are performing and will be able to keep tabs on your transactions. The security details also allow you to keep track of stocks. The portfolio overview displays the value of your portfolio, the percent change and cost basis, while the register tracks your trades, including the security, date, stock price, fees and balance. (Image credit: Moneydance) Moneydance review: Investment trackingĪs already mentioned, Moneydance allows the tracking of investments and monitoring of portfolios once you've synced to your brokerage account, and transferred the necessary balances and trades. Should Moneydance not offer a report that you need, experienced programmers can use its scripting support service to help hand write a script in Python that will allow you to analyze your own data and create a custom report based on your needs. That said, the exporting options are fewer than are available at most other services, and you cannot export reports to a tax program.
Graphs can be saved as a PNG, and data reports can be saved as an HTML or CSV, which can then be used in other programs, such as Excel. If you wish to save any report you run, you can print a hard copy or save a digital version. You can also choose custom dates for any period of time. You can adjust the date range, selecting from a number of predetermined options, including year or month-to-date and quarters. Other reports have charts and graphs for a quick visual of the data, such as the account balances, net worth and an income versus expense report. There are choices for simple data reports, including a budget report, cash flow and income versus expenses. Moneydance offers some of the best reporting options of all the services we reviewed. If you wish to have the unspent amount from the previous month roll over to the next, you can choose that option as well.
And you can individually edit and adjust any category budget you copy over as needed. If your bills and spending habits are similar each month, you can copy the budget you create from one month to the next, saving you time.
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