Frequently Asked Questions

Frequently Asked Questions

If you need to reinstall your MoneyThumb converter on a new computer or a new hard drive, you will need your download link and license code.

If you don’t have those two items, then head over to Resend License and request that your license be resent. Note that you will need to enter either your email address or your order number so that we can look up your license information and resend it to you.

You will then get a new email with your license code and download information.  For installation instructions see Installation Tips.

 

Although Quicken officially stopped support for QIF format more than 10 years ago, Quicken for Windows versions up through 2016 (other than the starter edition) continue to read bank, credit, and investment accounts so long as the QIF files are created with an account name entry. All the QIF files created by MoneyThumb converters do contain such an entry, and those QIF files are all importable. You do have to import them via the Quicken File Import menu (no double clicking), and setup the import dialog as described in the MoneyThumb Help file.

When you import a QBO file into QuickBooks, either desktop or online, you do through via QuickBooks Bank Feeds. Bank Feeds displays the downloaded payee name for each transaction. You need to specify the QuickBooks payee and assign an account name for transactions. Bank Feeds creates rules as you go through that process, so subsequent transactions from the same payee will default to the same account. Once most of your customers/vendors have been processed once, everything becomes automatic.

QFX and QXF are two very similar  and easily confused names, but the two formats could not be more different.

QFX is a download format, designed for import of transactions from your bank into a single Quicken account. In Quicken menus it is referred to as Web Connect format, and in Windows Explorer it will show up as OFX (since QFX is a variation of OFX).

QXF is an encrypted  file transfer format designed to move entire Quicken databases with multiple accounts from Windows to Mac or visa versa.  It is only suitable if you are changing platforms and/or migrating your accounting software.

QIF is an older format and is accepted on all versions of Quicken for Windows (other than the Starter Editions), and on Quicken for Mac 2007. QFX is accepted by both Quicken for Windows and Quicken for Mac, so long as they have not expired (Quicken expires the capability to download or import QFX files after 3 years).

QFX format is easier to work with, but QFX does not import categories or tags. QIF does import categories, tags, and also cash accounts, but is harder to use.

When judging ease of use, QFX import prevents duplicate imports, while QIF format does not. QIF import also requires more clicks, and imported transactions can be invisible if you have incorrect Quicken settings.

Yes, MoneyThumb converters create .QBO files which are readable by all non-expired versions of QuickBooks desktop and by QuickBooks Online.

MoneyThumb software is licensed to you as an individual. You may install the software on up to three computers so long as you are the sole user of those computers. If you are looking to be share the converter among multiple users, please contact us at [email protected] Let us know which converter you are interested in and the number of users and we can provide you with a custom quote.

PDF+ is MoneyThumb’s OCR option to handle scanned documents, as well as internally encrypted PDF files (these have gibberish if you copy/paste the text into another program). OCR stands for “optical character recognition”, a computational technique that uses sophisticated algorithms to go through an image file and recognize letter and numerical characters so that they can be converted into data and thereby read by a wide range of applications.

To use PDF+, simply run the conversion as you ordinarily would with MoneyThumb conversion software. If the PDF file does not contain readable text, then the PDF conversion will automatically switch to PDF+ and process the file as an image file.  If your file had text recognition done previously by another OCR process, then the converter will use the text from the previous OCR program. Note that some scanners will automatically run a built-in OCR program, and those are not generally very accurate.  To ignore the previous OCR, use the Settings option for Always run PDF+ text recognition (OCR).  After running PDF+, you can edit and even add transactions in in Preview mode case anything was not recognized.

 

The accuracy of any OCR process depends on the quality of the original document, and the quality of the scan. Best results are achieved by setting the scan density of your scanner to 300dpi. A clean document, scanned at 300 dpi, should produce 100% accuracy. However, in the real world, dust on the paper or scanner can cause individual characters to be confused and thus cause transactions to be missed or value transposed. If your documents are of poor quality, then your PDF+ results will likely be, too.

PDF+ is different than other OCR programs because it uses MoneyThumb’s proprietary PinPoint OCR technology.  This OCR technology does a typical OCR process first like other OCR programs, and attempts to process the statement. Then, after the statement has been processed, it will reconcile it to verify that all transactions are found. If the statement does not reconcile, PDF+ will go back through the statement looking for values that might have been missed. For example, if a period had a piece of dust that caused it to be recognized as a comma, or a 5 was an S, then the value would not have been recognized as a currency value. Once PDF+ knows that a column should contain values of a certain type, it will attempt to recognize those values again, using the column context to restrict the OCR to desired values. Furthermore, should PDF+ still not reconcile the statement, it will then highlight for the user exactly which values are in question and in need of manual attention to produce the final reconciliation.

There are several reasons why PDF+ is necessary for financial statement conversion.  Many OCR programs keep the original image and put all recognized text behind it. The only way to see what was really found is to select the text in a PDF viewer, and then copy/paste it to another program such as a document or text editor. Then you must review the text closely to see if its accurate, especially for character transpositions such as ./, 5/s, 0/O etc.  If your existing OCR process is 100% accurate, then you don’t need PDF+. However, we have found that even the best OCR programs will transpose a character every now and then, which causes financial statement conversions to not reconcile. PDF+ is designed to automatically correct transposition errors based on their context in the bank statement.

The trial software is fully functional, and will read the entire input file and create a log of all transactions and items which were processed. The only difference is that the trial version will only write the first 10 transactions or items to the output file (5 transactions for csv input). With that, you can verify that your file is read correctly, and test the first 10 converted transactions or data elements in your application.

No, there is no limit. The converters are routinely tested with data files that are 100MB in size, and have upwards of 50,000 transactions. Those conversions take less than 30 seconds to process. Converting PDF files will take more time, and text recognition will take even more time.

Yes, for now. There are additional converters in the planning stages. If there is something specific you are looking for, please send us a message.

It stands for Financial Institution ID, and is a typically a 4 or 5 digit number that uniquely identifies your bank or brokerage for financial downloads. A given financial institution will have different FID’s for Quicken® and QuickBooks®. Quicken and QuickBooks distinguish between Bank, Credit Card, and Investment accounts and between Direct Connect and Web-Connect downloads. A given FID is authorized for some combination of account types and download types, and if the Financial Institution is not authorized for what you want to import, files will not be imported by Quicken or QuickBooks software.

First, please recognize that the list of FID’s is created by QuickBooks, not by MoneyThumb. QuickBooks will not import files unless they use an FID from a bank on the FID list. MoneyThumb converters can only read the list.

If your Financial Institution is not listed for the account type you want to import, then the workaround is to use an FID of some other Financial Institution that is supported by QuickBooks for the correct type of account. You can choose any bank you want, generally it is best to select a well-known bank, and one you don’t have other accounts at. You can also name the account with the real bank name, but QuickBooks will have a different name in the account details.

First, please recognize that the list of FID’s is created by Quicken, not by MoneyThumb. Quicken will not import files unless they use an FID from a bank on the FID list. MoneyThumb converters can only read the list.

If your Financial Institution is not listed for the account type you want to import, then the workaround is to use an FID of some other Financial Institution that is supported by Quicken for the correct type of account. You can choose any bank you want, generally it is best to select a well-known bank, and one you don’t have other accounts at. You can also name the account with the real bank name, but Quicken will have a different name in the account details.

Its the right question to ask. CSV/QIF files do not contain any account identification information, such as account numbers or passwords. The only potential personally identifiable information are payee names, and if you are concerned that your payee names might somehow be sensitive information, then you should not use Run Live.

Its a restriction on the Java environment, designed to protect you so that Java programs cannot read the clipboard on your computer. It also means that you cannot copy Java output to the clipboard. We are thinking of adding a purchase option for the output of a single conversion. If you would be interested, please let us know.

Download our Free Ebook


10 HINTS - HOW TO GET THE BEST RESULTS WHEN SCANNING AND CONVERTING PDF BANK STATEMENTS


5716 Corsa Ave., Suite 110 Westlake Village, CA 91362-7354

For the fastest response to support inquiries, please use our ticketing system at: [email protected]

For other business contact us at: [email protected]