Converting from MS Money 2006 standard

Posted by Laura on September 28, 2008, 6:31 pm

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I have a client who we would like to convert from MS Money to QuickBooks.
The data represents about 10-15 savings, checking and credit card accounts
of the clients personal finances.

One methodology proposed is to convert the file to Quicken and then convert
the Quicken file to Quickbooks.

Has anyone done this before that could share their experience with me?

The alternative methodology proposed is to run reports in Money to Excel and
use a third party tool to convert the excel file to an IIF file. I know that
IIF files have their own problems but I am wondering if this would have LESS
problems then converting the MS money file.

In either case, there is a lot of clean up that needs to happen before the
data can be brought into Quickbooks and I am thinking that it might be
easier to do the clean up in excel rather than in Money or Quicken.

Any thoughts or suggestions?
--
Laura

Posted by Gary E on September 29, 2008, 9:14 am

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>I have a client who we would like to convert from MS Money to QuickBooks.

>The data represents about 10-15 savings, checking and credit card accounts

>of the clients personal finances.

Why choose Quickbooks? If it is personal finances, Quicken would be a
much better choice

> One methodology proposed is to convert the file to Quicken and then

> convert the Quicken file to Quickbooks.

> Has anyone done this before that could share their experience with me?

> The alternative methodology proposed is to run reports in Money to Excel

> and use a third party tool to convert the excel file to an IIF file. I

> know that IIF files have their own problems but I am wondering if this

> would have LESS problems then converting the MS money file.

> In either case, there is a lot of clean up that needs to happen before the

> data can be brought into Quickbooks and I am thinking that it might be

> easier to do the clean up in excel rather than in Money or Quicken.

To me the conversion would be a lot simpler if you started by creating a
chart of accounts and entering open balances. I would be surprised if either
"conversion" methods you mentioned would work satisfactory.

> Any thoughts or suggestions?

> --

> Laura

Gary

Posted by Laura on September 29, 2008, 8:03 pm

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Oops, I forgot to mention that this needs to be an online program.

I agree that Quicken makes more sense but from what I can see on their
website I don't think their online version is very good. Her business
accounts are already in QuickBooks so for consistency we are discussing
moving her to the QB online version.

>>I have a client who we would like to convert from MS Money to QuickBooks.

>>The data represents about 10-15 savings, checking and credit card accounts

>>of the clients personal finances.

> Why choose Quickbooks? If it is personal finances, Quicken would be a

> much better choice

>> One methodology proposed is to convert the file to Quicken and then

>> convert the Quicken file to Quickbooks.

>> Has anyone done this before that could share their experience with me?

>> The alternative methodology proposed is to run reports in Money to Excel

>> and use a third party tool to convert the excel file to an IIF file. I

>> know that IIF files have their own problems but I am wondering if this

>> would have LESS problems then converting the MS money file.

>> In either case, there is a lot of clean up that needs to happen before

>> the data can be brought into Quickbooks and I am thinking that it might

>> be easier to do the clean up in excel rather than in Money or Quicken.

> To me the conversion would be a lot simpler if you started by creating a

> chart of accounts and entering open balances. I would be surprised if

> either "conversion" methods you mentioned would work satisfactory.

>> Any thoughts or suggestions?

>> --

>> Laura

> Gary