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I installed Quicken 2008 Home & Business just wanted to upgrade my out-dated Microsoft® Money 2004, and the next step is to convert all data since I do not want to enter all data in Quicken again. I checked the Import… option from Quicken menu, but I could not find any import format for Microsoft Money.

After searching on Quicken support site, I found that I need an utility called Data Converter to do such job. The Data Converter converts your data from Microsoft® Money 2003 or later for use in Quicken for Windows version 2008, 2007, 2006, 2005, and 2004. It might also work with other versions of Money. If your version of Money can copy .XML files to your desktop, the Data Converter will likely convert your data.

To convert your data, you create 2 transaction reports in Microsoft Money: an Account transactions report for the standard transactions and an Investment transactions report for the investment transactions. You import the reports into Quicken and add some information that will help you take advantage of several Quicken features.

Here is the an excerpt of how-to:

• Step 1: Download and Install the Data Converter
  1. Download the Microsoft Money to Quicken data converter.
  2. Double-click the downloaded file, and then follow the on-screen prompts to install the data converter.
• Step 2: Start Converting
  1. Be sure Quicken 2008, 2007, 2006, 2005, or 2004 and Microsoft Money 2003 or later are both installed on the same computer as the Data Converter.
  2. Click the Launch MS Money button.
• Step 3: Create an Account Transactions Report
  1. Create an account transaction report using the procedure that applies to your version of Microsoft Money.

  Microsoft Money 2008 through 2005

  1. Click the Reports tab.
  2. In the Income and expenses area, select Account transactions. If the Account transactions report is not in the list, display the advanced reports by selecting Change report settings in the Other tasks list. Select Switch from Essential Reports to Advanced Reports and click Use Advanced Reports to display the Account transaction option.

  Microsoft Money 2004 or 2003

  1. Select the Reports menu and select Reports Gallery.
  2. In the Pick a report or chart list, select Account Transactions.
  3. Click the Go to Report/Chart button.

  1. In the Common tasks list, select Customize. If the Reset button is not available, proceed to step 3. Otherwise, click Reset. If a confirmation message appears, click Yes, and select Customize again.
  2. In the Rows & Columns tab, in the Include fields area, select the Memo, Account, Cleared status, and Category options.
  3. In the Subtotal by field, select Accounts.
  4. Select the Show splits checkbox, and then click OK.
  5. In the Accounts field, select All Accounts.
  6. In the Date range field, select All dates.
  7. Select the Send to menu and select Desktop. This step might take some time, depending on the size of your data file.
  8. When the transfer is complete, click OK.
• Step 4: Create an Investment Transactions ReportNote: Complete this section only if you have investment transactions to convert.
  1. Create an investment transactions report using the procedure that applies to your version of Microsoft Money.

  Microsoft Money 2008 through 2005

  1. Click the Reports tab.
  2. In the Investment area, select Investment transactions. If the Investment area does not appear, display the advanced reports by selecting Change report settings in the Other tasks list. Select Switch from Essential Reports to Advanced Reports and click Use Advanced Reports to display the Investment transactions option.

  Microsoft Money 2004 or 2003

  1. Select the Reports menu and select Reports Gallery.
  2. Click Investments.
  3. In the Pick a report or chart list, select Investment Transactions.
  4. Click the Go to Report/Chart button.

  1. In the Common tasks list, select Customize. If the Reset button is not available, proceed to step 3. Otherwise, click Reset. If a confirmation message appears, click Yes, and select Customize again.
  2. Click the Rows & Columns tab, and in the Include fields area, select the Memo, Transfer account, Cleared status, and Category options.
  3. In the Group by field, select Investment Types and click OK.
  4. In the Accounts field, select All Accounts.
  5. In the Date range field, select All dates.
  6. Select the Send to menu and select Desktop. This step might take a while, depending on the size of your data file.
  7. When the transfer is complete, click OK.
• Step 5: Finish Converting
  1. Close Microsoft Money.
  2. In the Data Converter dialog, click the Import into Quicken button. Quicken starts when the import is complete.
  3. Review your transactions for accuracy.
  4. Reconcile your converted data before adding new data (the Data Converter does not retain the reconciliation state of your accounts). For more information, in the Quicken Help menu, select Contents or Quicken Help, click the Index tab, and enter reconciling, accounts.
  5. See the Next Steps section for more helpful tips and information.

Next Steps and Troubleshooting, please refer to Quicken website