Quicken 2016-2017 is changing account non-US currency on QFX import

As reported on the Quicken community forum when Quicken 2016 R7 US edition or later (including QUicken 2017 all releases) imports a QFX file with USD currency on a non-USD account (Quicken allows to choose non-USD account during QFX import), the account currency is changed to USD currency. User cannot change the account currency back, so this is considered an issue that hopefully will be changed in next release.

Quicken users face the issue with importing QFX files on non-USD accounts (again, this is about the US edition of Quicken 2016 R7) that could be resolved by changing the currency of the QFX file from non-USD to USD and import the QFX file successfully. With Release 7, importing QFX files with USD currency on non-USD accounts makes the account currency USD.

It is strongly advised to make a backup before importing any file into Quicken.

There are two workarounds for this issue when it comes to the import of transactions.

1. Use a proxy account and import a QFX file there and then cut and paste transactions under another account. Do not worry about currencies, amounts stay the same when you cut and paste transactions from one account to another if they have different currencies.

How to cut and paste transactions:

  • select an account with transactions
  • right click on the transactions grid, click "select all transactions"
  • right click again and click "cut transactions"
  • switch to another account
  • right click on the transactions grid and select "paste transactions"

2. Use QIF format.

With release R7, Quicken 2016 US edition users have only one option to import transactions into non-USD account: convert to QIF file, import into a proxy CASH account and then move transactions under a non-USD account.

The following converters should help with the conversion to QIF format:

  • CSV2QIF (convert CSV or Excel to QIF)
  • Bank2QIF (convert OFX, QFX, QIF, QBO to QIF)
  • OFX2QIF (convert OFX to QIF)
  • QFX2QIF (convert QFX to QIF)
  • QBO2QIF (convert QBO to QIF)
  • FixMyQIF (make various QIF files to follow expected QIF variant)
  • PDF2QIF (convert PDF to QIF)

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