Doing so makes the import process much smoother. It is highly recommended to export all data into a single QIF file. The import process is slightly different depending on whether your QIF file contains one or many accounts. Those that contain only one accounts worth of data and those that contain all account information for multiple accounts. There are essentially two types of QIF files. This can be accomplished in Quicken from the File -> Export. Transferring financial data into Moneydance requires that the data first be exported as a QIF file.
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