Importing your data from YNAB (You Need a Budget) 4 for Desktop to MoneyWiz is easy. We have a lot of clients coming from YNAB (You Need a Budget) 4 for Desktop and the import works well for them. YNAB (You Need a Budget) 4 for Desktop can export accounts to both QIF and CSV formats. MoneyWiz not only supports import from this file type, it will import the transfers between your accounts as well as split payments you may have on your accounts, payees and categories.
In this guide we’ll cover the following areas:
Before starting to export your accounts, please take a note of their Opening Balance. You would need this information when creating your account in MoneyWiz. For the accounts to come up with the right balance after the import they need to have their Opening Balance set as of the date of the first transaction that you will be importing.
Please note that if you don’t import all accounts, the other accounts might not come up with the correct balances, because of the transfers between them and the accounts you haven’t imported.
Exporting from your current application
Go to All Accounts view then File -> Export.
Choose the QIF export method:
You’ll be notified that all accounts have been exported as separate QIF file. Click Open Output Folder button to open the folder containing your files. They’ll be named as “My Budget-ACCOUNTNAME as of DATE.qif”. Find all the files you’ve just exported and place them on your Desktop for easier navigation.
Importing to MoneyWiz
There is one more thing that we can do to make your financial history feel like at home in MoneyWiz. YNAB (You Need a Budget) exports your Opening balance as a separate transaction therefore your Opening balance has been imported into MoneyWiz as a regular transaction. You can go into each of the accounts, find the “Starting Balance” transaction, note its value then edit the account properties in MoneyWiz to modify the account Opening Balance so it matches that value. After you do this, you can delete the now obsolete Starting Balance transaction from MoneyWiz.
To edit account properties:
- On Mac and Windows: double click on the account,
- On iOS and Android: go to “Settings” -> “Accounts & Budgets” -> tap on the account you want to edit.
You will find that setting there.
Review the Import OFX, QFX, QIF, CSV and MT940 files from banks or other applications guide to see how to set up MoneyWiz before you import your data to MoneyWiz.
We also have a special guide dedicated to customers moving from YNAB (You Need a Budget) that explains how you can transition your finance management habits painlessly.