Overview


Importing your data from Microsoft Money to MoneyWiz is easy. We have a lot of clients coming from MS Money and the import works great for them. Microsoft Money can export each separate account into a QIF file and MoneyWiz not only supports importing from this file type but it will also detect the transfers between your accounts as well as split payments you may have on your accounts, payees and categories.


You just need to export each of your accounts to a Loose QIF file and then import them one by one to MoneyWiz. Do not worry about creating duplicates - MoneyWiz will take care of this by detecting them based on the dates and the amount of the transactions in the different files.


Please notice that if you have Investment & Assets accounts, those will probably not import into MoneyWiz because MoneyWiz currently works with Cash, Loan, Checking, Credit/Debit and Savings accounts. Click the Link to see the current status of the investment and assets accounts development, and how to manage your assets and investment instruments in MoneyWiz.


First, get prepared before the export


Note the Opening Balance of your accounts


Before starting to export your accounts, please take a note of their Opening Balance. You would need this information when creating your account in MoneyWiz. For the accounts to come up with the right balance after the import they need to have their Opening Balance set as of the date of the first transaction that you will be importing.


Note the names of your accounts and their exact spelling


This is needed so that when you are exporting each account, you name the QIF file exactly as the name of the account. It is important to do this as due to the structure of the file i.e. if the account is called Visa Gold, the QIF file for it should be called Visa Gold. Please mind the capitals, and spaces, the file format is cases sensitive. This will be also needed when you are setting up your accounts in MoneyWiz before importing your transactions. 


Next, export your data from Microsoft Money


Export an account

1. Go to File > Export...




2. Select a QIF Format to export to:




You will have two options here: Loose and Strict QIF format. The basic difference between these two is the volume of information they could carry.
Select the Loose QIF format. It could carry more information than the Strict QIF format and MoneyWiz can read it just perfectly and import all of your data.

3. Choose location to save the file and how to name it.


You can choose any location that you would like. Usually the easiest thing to do is to save it to the Desktop.




The important thing here is how to name the file. If the account you are about to export is called, say, Checking John then this is how you need to name the QIF file. Please note that this is case sensitive so capital letters do matter as well as spaces: checkingjohn.qif or checking john.qif will not work correctly, so as per the example you need to name the file Checking John.qif.


The reason for this is that many applications do not specify the name of the account within the file and because of this we have made MoneyWiz to read the filename and to list it as the name of the account in the list of accounts when you are importing.

Microsoft Money, however, exports the file correctly and it lists the name of the account in a dedicated line in the QIF file so if you name the file differently when importing it to 


MoneyWiz, you will see two accounts: the one as specified in the file and the one called after the filename. The tricky thing is that by reflex you will import the one that is called as the account name and not the filename, but nothing will import as all transactions will be actually linked by MoneyWiz to the other account - the one with the filename.


By naming the file exactly as the name of the account in Microsoft Money you will avoid this from happening and, when importing into MoneyWiz, only one proper account will show in the list of accounts to import.


4. Select the account type to export




In Microsoft Money you could have two types of accounts - Regular and Investment.

All of your checking, cash and credit accounts will go into the Regular type and any stock, 401k, etc account will go in the Investment type.


If you will be exporting a Regular account this is the option you need to select.

MoneyWiz doesn't currently support investments accounts, however, you can import them as Savings accounts, just so that they are added to your Net Worth, and manually update them based on the share fluctuations.


5. Select the Account you will be exporting and click Continue.




Remember how you named the file that you will be exporting to in step 3 and make sure that you are exporting the correct account.


Importing to MoneyWiz

 

Click "Import OFX, QIF and CSV files from banks or other applications" to see how to set up MoneyWiz before you import your MS Money data to MoneyWiz.