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Trying to get my brother OFF W10

oocevin
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Trying to get my brother OFF W10

Sun Jan 26, 2020 9:09 pm
He was or is using Quickens for his financing upkeep.
I,m trying to get kmymoney open up one of his data
backup files and it will not see it.
Is there a way to get kmymoney to see the data from
quicken?
rblackwell
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Re: Tring to get my brother OFF W10

Mon Jan 27, 2020 1:42 am
oocevin wrote:He was or is using Quickens for his financing upkeep.
I,m trying to get kmymoney open up one of his data
backup files and it will not see it.
Is there a way to get kmymoney to see the data from
quicken?


You need to export the data from quicken then import it into KMyMoney.
jjjjkosa
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Re: Tring to get my brother OFF W10

Wed Feb 05, 2020 1:05 am
I'd be interested in your experience with this, along with anyone else's. I'm evaluating KMyMoney (and MoneyDance) as a replacement for Quicken 2017 (with a future goal to ditch Windows 10). So far today I exported each of my main Quicken accounts (checking, savings, credit cards) to QIF. For the 1st one, I checked the options to export all categories, securities, payees, etc along with transactions. Now I'm working thru importing each one and trying to fix errors and learn how KMM differs from Quicken.

Depending on your brother's data, you might find some similar issues as I'm seeing.

1. If there are any transactions in the quicken accounts that reference another account (i.e., transfer $ from savings to checking), you prob need to import both accounts.
2. If there are any transactions that reference the cash balance in an investment account, you'll prob have a bunch of stuff to correct. KMM doesn't allow a cash portion of an investment account, so in my case, every paycheck that had a 401k investment in the split is not correctly imported, so my checking account balance is completely off.
3. If there are any transactions that are recorded back into the same account, KMM will also have an issue since it doesn't allow this. In my case, I have a liability account for my Mortgage. I don't record monthly payments against it, instead every 1-2 years I make a manual adjustment against the principle balance to reflect how the paydown is going. KMM doesn't allow that.

From a usability standpoint, I'm finding KMM to have some nice UI and I want to love it. But my 1st 3 tests of importing financial transactions from my credit card were not promising. It can't seem to match transactions that come in from a qfx from the bank. I thought maybe the issue was that I was trying to get it to match against a QIF imported xan, but even after manually enter a transaction in the register, the qfx import doesn't match. That could be a dealbreaker for me. We'll see.

Appreciate anyone chiming in with experience or feedback on switching from Quicken to KMM or Moneydance.
mcarpino
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Re: Tring to get my brother OFF W10

Wed Feb 05, 2020 1:59 pm
I converted from Quicken to KMM around 5 years ago. It takes a little work to import the transactions but in the end I found it to worth the effort. One thing I really like about KMM is you don't have the concern about file size that you do with Quicken. There is no need to do an annual archiving. For me I get everything I need with a personal finance program to track my finances.

jjjjkosa with your 2nd point you mention that KMM doesn't allow for a cash portion of an investment account. There's a section in the manual that addresses setting up an Investment account. In order to handle cash within an investment account you add an account to handle the cash and another for the investments. Unless I'm reading your comment wrong there is actually a way to handle cash for a investment account, it's just a different process than the way Quicken does it.

As far as your 3rd point, you're working around the system by manually adjusting the mortgage account. There is a way to do what you want but I think it would be better to follow standard accounting procedures which would be to split the payment transaction in the interest you're paying and the amount of reduction going into the liability (mortgage) account. But if you want to continue doing it the way you have been doing it you would record the transaction as you make your payments into an expense (category) account (ie Expense: Mortgage Interest) then when you make your manual adjustment by reducing Mortgage Liability account you would utilize the Mortgage Interest category to also reduce this account accordingly. By doing it this way when you look at reports for Net-worth or Expenses you'll NOT be looking at actuals except the day when you do your manual adjustment. KMM will automatically calculate the proper interest/principal when you set up the loan amount so I think there is a better way by just using the system properly but it's up to you in deciding how you want to use KMM.

As for my perspective on KMM on a high level perspective, I'll never go back to Quicken. KMM is a great program. I tried many of freeware Personal FInance software programs before settling with KMM. I found others to not be as polished or functionally complete for my needs until settled unto KMM. Some where more complicated than I wanted in a program and I have an accounting degree. KMM gets it done for my needs. Long live KMM.
jjjjkosa
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Re: Tring to get my brother OFF W10

Wed Feb 05, 2020 4:47 pm
Thanks for your feedback mcarpino! It's encouraging to know that another user has no regrets.

I agree that there are ways KMM will handle the cash portion of investments and I could do the proper accounting methods for my mortgage. It will take a lot of work to get it all switched over and setup, so I'm debating if it is worth it. My checking account balance won't be correct in KMM until I go back thru years of paystub entries and re-enter the split lines where money was deducted for an investment. Or, prob I should change things in Quicken, so when I really import over to KMM it will work better. I'm also trying out Moneydance too (which will cost me $50 one time if I pick that tool) and it handled the transition much better although still not perfect. Massaging data to get it all to work is clearly in my future! LOL

For right now I want to see how KMM will behave for regular use and the importing of bank transactions is giving me some frustration:
- I tried importing both qfx and csv files that I had manually downloaded from some of my banks. Import "works" but it doesn't match against xans I have in the ledgers.

- And, I tried to "Map Account" to see if KMM will go out and retrieve xans on its own, but it sits on a msg "loading banklist" from ofxhome.com. Been waiting about 30min so far for any kind of progress to show. I'm on a 300Mbps download connection.

Any thoughts?
User avatar ipwizard
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Re: Tring to get my brother OFF W10

Fri Feb 07, 2020 4:08 pm
I see an error that the list cannot be stored in a local file. Maybe, this error message is hidden by the main window. Now we need to figure out, why the program cannot store the file in the first place. This seems to be a windows only problem (again) because things are working fine under Linux. This just as a quick note so that you know we're working on your problem.


ipwizard, proud to be a member of the KMyMoney forum since its beginning. :-D
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citapinc
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Re: Tring to get my brother OFF W10

Wed Mar 25, 2020 1:59 am
Today is 3/24/2020 and I'm running KMyMoney v5.0.6 on a Windows 10 computer. I too am having issues when I right click on an Account and select Map Account->ofximporter. It just sits there and doesn't show any progress.

When will this get fixed so I can download transactions from all the banks and credit cards.

 
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