- Be sure you have enough time and are not rushed.
- Plan for time after the data conversion to add or adjust budgets, loan accounts, and other items.
- In Microsoft Money, remove duplicate, misspelled names in the payee list.
- Remove unused categories from the category list.
- Account names can't be over 40 characters in Quicken. Check your accounts and if any are longer than that, rename the account.
- Make note of bills on the calendar since you'll need to re-enter these on the Quicken calendar
- Reconcile all accounts in Money.
- Note that Quicken will most likely download transactions from all of your financial institutions.
01Rename Money Accounts and Back Up
Back up your Microsoft Money data file to a new folder on your computer, or to removable media like a USB drive. Although the data conversion should leave your Microsoft Money data file intact, backing the data up is essential if you ever need to use it again with Money. Better to be safe than sorry.
If you have created a data file in Quicken that holds transactions you do not want to mix with the Money data, create a new Quicken data file to import to.
- Open Quicken
- Click on File, New, New Quicken File.
- Name the file.
- Close Quicken
- Use this file when you convert the data. Since Quicken opens using the data file that was last used, you should be all set.
02Download Money Plus Sunset Deluxe
If you're using the most recent version of Money, you can skip to the next step.
If you haven't been using the most recent version of Money, which is free (but some features are disabled), you will find the link to download it about halfway down the page in this article about Microsoft Money Plus Sunset Deluxe.
Download and install the software, then let it convert your data from the earlier version of Money that you've been using.
03Open Quicken, Convert and Import
If You Already Use Quicken
- If you've been using Quicken, don't import MS Money data into your current Quicken data file. Start a new file. This is the file that you will be using when you convert and import the data from Money.
- Click on File, File Import, and Microsoft Money file. A window will pop up that should have your Money data file in it. If this is the case, double click on your Money file and start the conversion. If your Money data file isn't listed in the pop window, you will have to navigate to where this file is saved and select it.
If You Haven't Entered Transactions Into Quicken Yet
If you installed Quicken and went through the setup process and have named a new data file, but you've not entered transactions, you can use this procedure. If you haven't installed Quicken, do so now and follow these steps:
- Open Quicken. You will be given options for starting a new file, opening a Quicken data file or importing data from Microsoft Money (if you don't see this, refer to the procedure for those who already use Quicken). Select the option for importing Money data.
- Quicken will find your .mny Money data file and will start converting. If you have multiple Money data files that you want to convert, follow the steps for Already Installed Quicken above for the remaining data files.
- While the file is converting, you may see one or more error messages about account names, payee memos or other things being truncated, although you shouldn't if you've followed the previous steps in this tutorial. Quicken will offer a Review Log if there were any problems with data conversion. Read it to see if you'll need to fix any category or account names. You can also get to the Review Log by clicking on File, Log Files, Microsoft Money File Import Results.
- After the conversion completes, you'll see Read Next Steps. Click on this and read the instructions given.
- Once you close the Next Steps window, your converted file will open.
After running the Quicken Data Converter on Microsoft Money data, Quicken opens and prompts you to update the data to the most current version. Go ahead and update the data.
Your Microsoft Money data will now be imported into a Quicken data file. You will need to make some adjustments and additions since the Data Converter can't convert all characteristics of Microsoft Money accounts.
Click on Help, Quicken Help, New to Quicken to learn more about how to use Quicken. Quicken is not difficult to use, but many functions are handled differently than in Microsoft Money.
If you have trouble with your Money to Quicken data conversion, refer to the Quicken Support page.
Step-by-Step Guide: Importing Microsoft Money Files to Quicken
In this tutorial, Microsoft Money users who want to switch to Quicken will learn how to convert financial data to a format that's usable by Quicken. Converting data from Money to Quicken is a multi-step process that requires some tweaking after the data conversion, and unfortunately, not all data can be converted.
An alternative to importing Microsoft Money data into Quicken is to first create your financial accounts in Quicken and then enter or download transactions. If you follow this procedure, you will probably only get three month's worth of transactions from financial institutions, and you will need to reconcile accounts in both Money and Quicken to ensure that no transactions have been left out. This method takes a little longer, but is preferable for some users over the following method.
Before importing Microsoft Money data into Quicken: