Converting from Microsoft Money to Quicken — finally, a documented solution!

After years of fighting and losing the battle to use Microsoft Money to stay on top of my finances, and after reading that Microsoft Money has only 1/4 of the market share that Quicken has (even after all these years of Microsoft trying to take over), I finally gave in (with a really sweet $33 deal via Costco.com) to sense and decided to switch my financial management to Quicken.

Unfortunately, as much as I would’ve figured that Quicken would want to make it dead-easy to convert MS Money data to the Quicken format, it turns out that not only is their conversion tool buggy and not well documented, but the conversion process is pretty damned fragile (and requires a lossy and manual process of exporting into an XML format).

I spent much of this weekend fighting with this software, troubleshooting all the various errors (mostly using Process Monitor — the best friend of anyone fighting with crappy, cryptic software) and finally came up with a solution that is (a) successful (unlike every report I’ve been able to find on the Internet) and (b) repeatable.

This is my gift to you, the many who have wisely determined that their foolish experiments with Microsoft’s finance software are best left behind.  If you’d like to hear the whole gory story, just keep reading.  If you’d prefer just the step-by-step recipe, just skip to the end of the article and enjoy!

First Error

CreateQWPAManager could not be found in qwutil.dll

I dug around Google for a while, which was not encouraging (it sounds like not one customer had ever found a tech support rep at Intuit that had any clue what this error message really means).

However, to confirm my suspicions I fired up DEPENDS.EXE (no, not an adult undergarment utility) and confirmed that the version of QWUTIL.DLL that ships with Quicken Deluxe 2007 does not include the CreateQWPAManager() API.

I tried to find a more up-to-date version of this file that I would’ve expected Intuit to make available for users of the Data Converter utility, but so far they have nothing there.  So I fired up my favourite torrent utility and “borrowed” a copy of Quicken 2008 Home & Business (which at the time was the only version of Quicken 2008 that was being “shared”).

In the DISK1 folder of the CD image there’s a file called DATA1.CAB.  Opening that up with Winzip, I was able to extract a copy of QWUTIL.DLL.

I then renamed the Quicken 2007 version, copied the Quicken 2008 version to the C:\Program Files\Quicken folder, and confirmed with DEPENDS.EXE that this 2008 version of QWUTIL.DLL indeed does include the CreateQWPAManager() API.

[Now, because the Data Converter utility loads QWUTIL.DLL directly from the Quicken program directory, it isn’t possible to just copy the QWUTIL.DLL into the C:\Program Files\Data Converter folder (which is what would normally work with most Windows apps).  Instead we have to “replace” the old file with the new one in the same location (and then restore the old file once we’re done).]

Second Error

The data converter can not find the Microsoft Money Account Transactions*.xml report.
Try re-creating the Account Transactions*.xml report.

I fired up Process Monitor, and spotted the MNY2QDF.EXE process failing to QueryDirectory for C:\Documents and Settings\mikesl\Desktop\Investment Transactions*.xml and :\Documents and Settings\mikesl\Desktop\Account Transactions*.xml.

So after a bit of head-scratching, I renamed the report XML files to “Investment Transactions.xml” and “Account Transactions.xml”.

Third Error

The data converter does not recognize the report as a Microsoft Money Account Transactions report.
This could be because the report was renamed or because it is not the correct report.

Edited the contents of the element in the XML file(s) to replace the unexpected filename (e.g. “Quicken export”) with the required filename (without the .xml suffix):

Filename

XML Tag

Investment Transactions.xml Investment Transactions
Account Transactions.xml Account Transactions

Note that this error can be caused by problems with either the Account Transactions or the Investment Transactions report.

Fourth Error

The Microsoft Money Investment Transactions report must include certain fields.
Make sure that the Investment Transactions report includes the Account, Date, Investment, Activity, Shares, Price and Amount fields, and create it again.

I temporarily renamed the “Investment Transactions.xml” file and Data Converter was able to complete its work on Account Transactions.xml”.

<Edit> A little more detail… This error message was caused by the simple fact that I didn’t include all of the fields it mentions here.  At first I was confused by this error because one of the many guides on the Quicken site spelled out exactly which checkboxes to include, and (I checked afterwards) it definitely missed one of the fields, which I dutifully did not check.  Later, once I re-ran the report with all the fields included, the data converter successfully converted the Investment Transactions report as expected.

(koty, a reader, asked me to clarify what I meant by “temporarily renamed” — it probably would’ve been less confusing if I’d said I temporarily removed the file so that the data converter would only focus on the Account Transactions file.) </Edit>

Fifth Error

The converter tried to launch Quicken 2007 automatically once it completed the conversion, but Quicken 2007 immediately stops when the 2008 QWUTIL.DLL is present.

While I’d hoped that Quicken 2007 could operate properly with the 2008 version of this file, I had to remove the 2008 version and replace it with the 2007 version of QWUTIL.DLL.

Then I had to locate where the converter had dumped the converted Accounts data.  I’d assumed it would copy the results into the currently-configured Quicken data file (the one I’d created when I figured launched Quicken 2007), but that was still empty.   It turns out that, even though ‘d made a point of storing the Quicken Data file that I’d created originally in a non-default location, the converter didn’t find that file, nor try to put its conversion results in the same folder.  Instead, it created a file QDATAMNY.QDF in My Documents\Quicken.

Sixth Error

When I asked Quicken 2007 Deluxe to open the QDATAMNY.QDF file, it gave me this warning:

Important
You are currently using Quicken 2007 Deluxe.
The current data file was last used with Quicken Home & Business.
To add the additional features of Quicken 2007 Home & Business again, click Unlock Again.

I chose Unlock Later.

This is the result of me temporarily “borrowing” the only Quicken 2008 version I could get my hands on, and just manually swapping the QWUTIL.DLL files back & forth depending on what I needed.  [Hopefully this doesn’t cause any long-term compatibility issues with the converted data.]

Once I switched back to the original version of QWUTIL.DLL, Quicken started up fine, and was able to open the QDATAMNY.QDF file that the Data Converter had just created.

Conclusions

  1. Intuit should be more forgiving when seeking the named reports on the Desktop — it’s hard-coded to look for the default names of those reports, and while that would work in most cases, I was one of those crazies that renamed the reports (in the “Title” field of the Customize Report UI).  Without any documentation that the Data Converter only looks for the default Report names, it was not at all easy for me to figure out the source of the Second Error.
  2. Intuit needs to clearly test and document the dependencies for the Data Converter and ensure that anyone who downloads the Data Converter can use it in the proscribed environment.  Currently, the version of the Data Converter that is available on from Intuit only works with the 2008 version of QWUTIL.DLL.
  3. Intuit needs to ensure that what the Data Converter requires from the MS Money Reports is what’s documented in their Help files.  For example, in this page‘s Step 4, #3, they fail to include the Account field.
  4. Intuit should be more forgiving about the naming of the MS Money Reports that it’s trying to convert.  There’s no good reason to both look for hard-coded names for the files and require the XML element inside the file be exactly the same as the file’s filename.
  5. MS Money is not required to be installed on the same computer where the Data Converter is run (Process Monitor watched MNY2QDF.EXE during startup and during the conversion, and never did I see Data Converter try to find, open or use any of the Money files or Registry settings).  However, you do have to have a copy of MS Money so you can create the specified Reports, and you need to get the reports onto the Desktop of the user running the Data Converter.

Bottom Line: Recipe for Converting MS Money transactions data to Quicken

  1. Start with the instructions here, and whenever I haven’t specified something here, do whatever the Quicken help says.
  2. Install your version of Quicken on your current computer.
  3. Download the Microsoft Money to Quicken Data Converter and install it on the same computer.
  4. Get a copy of QWUTIL.DLL from any Quicken 2008 edition (if you can’t find one elsewhere, you should be able to find a Quicken 2008 Home & Business version here).
  5. Rename the installed Quicken’s QWUTIL.DLL to QWUTIL.DLL.ORIGINAL (by default, it’s found under C:\Program Files\Quicken\qwutil.dll).
  6. Copy the 2008 version of QWUTIL.DLL to the folder where you renamed the original one (e.g. copy it to C:\Program Files\Quicken).
  7. Follow the instructions for creating the Account Transactions Report and Investment Transactions Report (e.g. Step 3 and Step 4 from the online Help).  Ensure you preserve the default Title of each report.  If the XML file(s) on the Desktop are not named Account Transactions.xml and/or Investment Transactions.xml, then rename the resulting XML file(s) found on your Desktop to Account Transactions.xml and/or Investment Transactions.xml and edit these files’ XML to match the settings in the table above.
  8. Click the “Import Into Quicken” button in Data Converter.  You’ll eventually see a flash of the Quicken splash screen, then you’ll notice that neither the Data Converter nor Quicken will not be running.
  9. Delete the 2008 version of QWUTIL.DLL from the Quicken folder, and rename QWUTIL.DLL.ORIGINAL back to qwutil.dll.
  10. Launch Quicken, open the My Documents\Quicken\QDATAMNY.QDF file and party on with your old MS Money data!  [Oh, and I believe you can safely ignore any warning about the Quicken data file having been opened last time with a version of Quicken you don’t have installed; that’s a one-time warning that is the result of this workaround.]
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36 thoughts on “Converting from Microsoft Money to Quicken — finally, a documented solution!

  1. HI Mike,Can you please explain the fourth error where you renamed the Investment Transactions. I want to know whether you renamed the XML file name or you opened the XML file and edited the individual field names? I tried both and am still getting the same error regarding field names. Can you elaborate please. I am trying to migrate from Money 2007 to Quicken Deluxe 2007.

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  2. <>koty<>, sorry I wasn’t clearer there. I had really just tried to skip over the offending file because I’d created the report without <>all<> of the fields that were specified in the error message. I didn’t have to muddle with any of the field names, once I’d added *all* of the possible fields when generating the report in MS Money. [Or at least, I didn’t have to muddle with the generated file’s contents <>to address this particular error message<>.]I don’t know what else might cause that error to occur other than the specific issue that it spells out. That’s not to say that there isn’t another cause for it, just that I can’t think of it offhand. [I’m hardly any expert on Quicken’s code, despite my unusual swagger here.] If you’re still experiencing this issue, I must admit you’re probably better off following up with the Quicken support forums (where I’ll gladly try to help there in any way I can).

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  3. Mike,Thanks for the reply. In the mean time, I again went through the support forums and realised that the default name of “CASH” in Microsoft Money was the culprit which was causing Duplicate Category error. Subsequently I renamed the Cash account to smething else and I followed your advice and BINGO!! I am now on Quicken. I am still navigating my way through in quicken.I have noticed that the price history of stocks has not been imported (I live in India which is not supported by quicken or MS Money. So I used to manually update the prices frequently). Is there a way to get it/ can I customize thw websites which Quicken looks up to update the prices?

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  4. Mike, I’m trying to convert from Money 2004 to Quicken 2008. No luck and your suggtion of borrowing the 2008 utility doesn’t apply. Any suggestions would be appreciated. Bill Anderson

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  5. Hi All,Thanks to Mike for this superbly written piece.In response to <>Bill’s<> post about upgrading from Money 2004 to Quicken 2008, I’m facing the same issue and found a post on Quicken’s Web site saying they know it doesn’t work and will (hopefully) fix this.To find the source of text below, type “microsoft money converter does not work” in a search window in the Quicken online support pages (sorry, I did not manage to copy the link…)“At this time, the Data Converter available from the Quicken Web site for converting Microsoft Money files to Quicken does not work with Quicken 2008.”Let’s be patient then.Cheers,Vincent

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  6. Mike, thanks for the great comments. Better than any explanation Intuit had on their site. Although, the web page below has some enlightening things in it (like the max length of category names and no special characters). Unfortunately I do not want to buy Quicken 2007 to convert my Money data.I wanted to compare Quicken 2008 to Money Plus before I switched to Quicken. Vista Ultimate 64 has given me other heartache so now I’m having second thoughts about using Intuit stuff. The Data Converter gave me the new Vista version of the BSOD — popups where they say “… stopped working” and “… looking for a solution”. I’m adding this to your blog just so you can see what answer Intuit Support gave me. The following is the reply I got and it has a URL I haven’t run across before.———————Response (Sailaja AMS) 03/27/2008 11:01 PMDear nick xxxx,Thank you for contacting Quicken Customer Care.Dear Nick,If I understand your issue correctly, you are trying to convert Money to quicken.I would like to inform that the converter will not work with quicken 2008. you need to import the file and export it manually.Please follow the steps from the URL:Title: Converting Microsoft Money data to QuickenURL: https://quicken.custhelp.com/cgi-bin/quicken.cfg/php/enduser/std_adp.php?p_faqid=1697&p_created=1129160949Nick, I hope the information I provided will help you. Have a great day ahead.If you need additional assistance, please reply to this e-mail or visit our support site at http://support.quicken.intuit.com where you can search our knowledge base or chat live with an agent. Have a great day and thank you for using Quicken!Respectfully,Sailaja AMSQuicken Customer Care

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  7. Do not try the suggestion I posted above from Intuit. There are severe limitations with the Quicken import of QIF files and you will never get your accounts set up right.I wasted a lot of time correcting Money account names and exporting only to find out you can only import Cash and Property accounts. I tried a credit card import and the accounts set up in Quicken do not even show in the “import to” dropdown list. What a waste of my time so others please don’t try. Intuit even says in one of their Support answers that only a limited number of things can be imported via QIF files. And I thought MicroSucks was bad.Sorry if I caused anyone heartache.

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  8. Thanks for keeping a record of such things. I just went through a very annoying upgrade process. Quicken was unable to import QIF files properly, and customer support told me to get lost.I eventually found the tools for converting my Money 2003 file to Quicken, and finally got it working. I did have a problem along the way. It turned out that Money generated some XML that wasn’t well-form (it didn’t have an XML Decl, and it included an accented character). That was easily enough fixed, but the Quicken import tool quietly failed at that point in the file. I was wondering why my data wasn’t all there.You can test if the XML file is well-formed by opening it in IE.I’m back at using Quicken. I can’t say that I’m particularly impressed, but it seems that Money has abandoned Canadian customers, so there isn’t much choice.

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  9. Mike’s done some great work here. Really gave me hope. However I am in Australia and it seems that the Quicken 2008 qwutil.dll in our version of the product doesn’t include the API needed by the Data Conversion Utility! I tried downloading the qwutil.dll from the referred site and using it as per Mike’s suggestions. Unfortunatly it doesn’t work. It generates another API error – which looks like some country verification process.I also tried versions of the qwutil.dll from other Quicken products but still no luck.I’m stuck because I have 7 years of Money data, Microsoft have abandoned Money here in Aus and to attempt converting any other way is not feasible. I hope Intuit fix it soon. I can’t believe it should be that hard to include the missing module in the build process!CheersStephen

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  10. Wow, all I can say is THANX MIKE!! my Qwutil.dll got corrupted somehow (Vista/Q2008), and all I needed to do was extract it from the CAB and fixed it!!!awesome.. . . . . . Grizz

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  11. I was trying to import MS Money 2001 into quicken 2007. I tried your example I get to the click on import, it starts the process and a error screen pops up and states data converter has ecoutered and error and needs to close. this is the data error it is reportingAppName: mny2qdf.exe AppVer: 17.1.2.2 ModName: msvcr71.dllModVer: 7.10.3052.4 Offset: 00010482. Any thoughts?? I would really like to get me data into quicken

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  12. Hi Mike,Thanks for the info. I have about 12 years of data in Microsoft Money format stored in Money 2006 premium. It seems I’ve converted the data successfully, but now I have all these transactions in quicken that I have to reconcile. I also see all the accounts have been setup as Bank accounts, no idea how to change. It seems like this is going to take a lot of time to clean up even after the conversion. Is this what you experienced as well? Why isn’t the cleared status migrated?

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  13. Excellent Report, and shame on Intuit for producing such a shaby converter. I was particularly struggling with step 4, however in the end managed to convert my file. As future tip for others: Open your XML file in an editor and look if you can find any symbols such as €, ä, ü, ö, @, etc. replace those with normal letters and it should work. (Beware though: I also had a weird symbol that the word editor showed as a space, but which wasn’t actually a space, but blocked the process. Obviously difficult to spot when you just look at a basic text editor, and internet explorer does not open the file as long as it is ‘corrupted’. I only spotted it, because Firefox did open the file anyways, and showed the ‘spaces’ as questionmarks, so I then knew the misterious signs position and could replace them…)Good luck to everyone who is fighting Intuit on this front.Danielps: also note, that the third error is not always present, at least not from my version of MS Money 2004.

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  14. Kudos to PM. The only hitch I had with the recipe is that at the end the converted data ended up in a file named qdata1 (vice qdatamny). Under MSM, my DB was named qdata1.mny so I guess the Quicken name is based on what your MSM filename was. FWIW, I was going from MSM2004Deluxe to QuickenPremier2007. tks.

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  15. Thanks Mike…You’re awesome!

    I found the problem to be with the duplicate category when the data conversion from quicken tried to take the transactions. So I truncated all the category names in MS MONEY 2007. I even created short names for the categories money wouldn’t let me shorten and then deleted the old categories after moving the transactions to the new categories. I got another error after I tried the conversion tool again. It said “The data converter can not create a data file.” So then I read this link: http://www.quickencommunity.com/webx/.effd8a3 and closed and restarted and to my amazement I was able to import the data into 2009. I had about 6 years of transactions on MONEY 2007 so was very happy that it worked to my surprise. Only took about 35 hours to get it done. Now my next step is to transfer from quicken to quickbooks which is really the whole purpose to this.

    sorry the above is not proofread or good grammar… but thought it would be helpful if anyone else is going through this.

    so bottom line for transfering data from money to quicken is to go to the account list and rename all the accounts under 15 characters or less … that should help. and then go ahead and restart the computer if you get that data file can not be created error from the data conversion tool.

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  16. Mike,

    You deserve a special place in heaven for posting all of these detailed instructions. It worked like a dream.

    Thank you!

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  17. I have been trying to convert my 15 years of data under MONEY 06 to QUICKEN 09 and found this blog. Many of you expressed success in your conversion. My effort was good with bank accounts etc. Except INVESTMENTS. All the transfers from investment account to investment cash account are only NOTED as “transfer” and is not “received” by the to account. Appreciate if anyone can provide advice on how you accomplished the investment account conversions.

    Thanks PH

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  18. Thanks! This worked very well. I was stopped with the converter on investment transactions (Money Plus to Quicken 2009) and thanks to Parinoid Mike I just checked the accounts box in rows and columns in Money and the converter worked. So the Quicken converter instructions are wrong in Step 4 #3- you have to also check accounts! Thats was it for me!!! Thanx!

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  19. Thanks, Mike, for your public service. I spent last two hours with tech support but to no avail.

    This support basically asked me to download Quicken 2004, use export in Loose QIF from Money, and import it in Quicken 2004 and then save it for reading in Quicken 2009!

    I tried this but it won't transfer any small business related stuff like invoices, account balances for clients, client contacts etc.

    Do you have any clue?

    Ashwini Kumar
    Chicago
    June 30, 2009

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  20. All this and people are actually going to move to Quicken? LOL. I have quickbooks software at the office and this kind of thing is typical of intuit. So far Excel is a better option. I agree with you Mike – you would think Intuit would be jumping at the easy to come by customers, but I've used that phrase “you would think Intuit would…” for years.

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  21. Going to Quicken is quite an ordeal!

    MORE TIPS: I had trouble in that credit cards were listed as “BANK” and you cannot reassign the account type. So instead, you need to create a new empty credit card account, and then “MOVE” from one account to the next using this technique: http://financialsoft.about.com/od/simpletips/ss/Q05movetrans_2.htm

    [EDIT – TRANSACTION – MOVE TRANSACTION] This lets you move them into the newly created credit card account. You can move the whole collection, but for some reason, I had to repeat the command twice to get it to work.

    Next, it will double up on your payments (or at least it did on mine) which required finding and deleting the extra entries.

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  22. This worked for me:

    “so bottom line for transfering data from money to quicken is to go to the account list and rename all the accounts under 15 characters or less … that should help. and then go ahead and restart the computer if you get that data file can not be created error from the data conversion tool.”

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  23. this got me through, thanks Mike. Am not sure I'll like Quicken but guess we have no choice, am really surprised their tool is so bad, I would have never made it through without your post.

    A couple comments for people getting stuck at the The data converter does not recognize the report as a Microsoft Money Account Transactions report.
    This could be because the report was renamed or because it is not the correct report.

    error.

    My solution was to get rid of all my £ symbols. Basically if you try to open up the xml file in explorer and it can't, then you have to fix the errors. In my case the £ symbol was one of those errors.

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  24. The Center for Media Research has released a study by Vertical Response that shows just where many of these ‘Main Street’ players are going with their online dollars. The big winners: e-mail and social media. With only 3.8% of small business folks NOT planning on using e-mail marketing and with social media carrying the perception of being free (which they so rudely discover it is far from free) this should make some in the banner and search crowd a little wary.

    http://www.onlineuniversalwork.com

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  25. Thanks for the guidance, Mike. I wouldn't have had any success without your post.

    For those of you using an older version of Quicken (I'm using 2007) on 64 bit Windows 7, you'll need to follow these instructions on a 32 bit OS to convert the data(I used XP). I spent an hour trying to get the converter to recognize the .xml file and it finally dawned on me that the file path will be different on Win7 (probably Vista, too). Once the files were in C:\Documents and Settings\YourUserNameHere\Desktop\, everything worked. There was still some funkiness, but it will be less work than inputting 5 years of data.

    To sum up, if you are using Windows 7 (maybe Vista)–especially a 64 bit version, you will need to either do your data conversion on an older machine, or figure out a way to trick the computer into finding the data at C:\Documents and Settings\YourUserNameHere\Desktop\. Once converted, you can import your data onto your newer OS.

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  26. I don't know what we would do without motivated users like you. Normally I say that about user forums, but I didn't find anything on the Intuit group. Your method worked PERFECTLY. Thank you for saving me a lot of time and aggravation.

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  27. Well, one difference — my file wasn't called what yours was. For some reason it had my name, Steve. Perhaps it used my Windows user name. Whatever, that wasn't anything.

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  28. Hi Mike—- Got Money 2006 Canadian on my computer and want to upgrade to Quicken 2010. Am told that must upgrade to Quicken 2007/08 or Money 2007/08 before. Trouble is, Money 2007/08 doesn't come in a Canadian version and Quicken 2007/08 Canadian version is impossible to find. Don't want to download from some site I don't know. Any chance you or someone else has a solution or knows of a place in Canada where I can get Quicken Canadian 2007/08. Tried Ebay and Amazon but no luck. Thanks for any help.

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  29. There are no warnings when I import using the converter. I can see all my accounts but am missing the investment transactions. What can i do here?

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