The Ideas Genie Community Forum

General Category => Welcome, and introduce yourself => Topic started by: remiolat on November 16, 2013, 09:00:09 PM

Title: Migrating from Quicken 2004
Post by: remiolat on November 16, 2013, 09:00:09 PM

I am a brand new member to the Ideas Genie Community. I have been using Quicken for the best part of 18 years so it was always going to be difficult moving my accounts to a different package after Intuit stopped updating the UK version of Quicken. However it has not been as painful as I expected. The instructions for importing Quicken data into Bank Genie are very detailed so it was fairly easy to transfer my transactions into Bank Genie. I did run into a snag when trying to import my VAT Control account from Quicken - it would not import. However this has been sorted out with 2 updates to BS419 (Import QIF file), this has been sorted out. Thanks George!! So if you need to import your VAT Control account from Quicken, ask George for the update to BS419 (version 57). I hope I can contribute to making Bank Genie even more functional in the future.

Title: Re: Migrating from Quicken 2004
Post by: ideasguy on November 16, 2013, 09:31:37 PM

Welcome to the forum Remi. It was a pleasure to work with you!

You have already made a valuable contribution to this project by working with me on importing VAT Control account file.
I was delighted that Bank Genie can easily handle TAX (US) or VAT (UK).

From "scratch", here's the method:

• Create an account called VAT (this is automatically created if you import your TAX/VAT files from Quicken).
  
• When adding a VAT transaction e.g. a Purchase, enter the transaction details and split into 2 elements
• First element is the NET portion of the purchase. Currently, you can use any Category for this item, and assign a Tag if required
• Second element is the VAT portion (a DEBIT when adding Purchases).
  Set its category to TRANSFER.
  Set the Transfer account to VAT (as above)
  
• Bank Genie will create a CREDIT transaction equal to the VAT portion in the account called VAT

Similar process for Sales transactions.

For VAT returns, the figures are neatly accumulated in the account called VAT.
Use the Transaction Analyser program to produce a report, or output in other formats (Excel, txt).

In Bank Genie Pro 5 (next version) I will make this more fully featured.
e.g. Tax/VAT rate options and automatic calculation of Tax/VAT.

Here's the latest download for anyone interested:-
http://www.bankgenie.net/dl/BGProUpdates/BS419-dl.exe
1. Make sure Bank Genie is NOT running while you do the download.
2. After download and install:
Start Bank Genie
Under Tools tab start BS419 (QIF file Import program) Title bar should indicate Version 57 (or later).