Pound Currency after Quicken File Conversion

If you are converting an Intuit Quicken file into Microsoft Money, and use the UK Pound Sterling currency as a major currency within the file (possibly even your primary currency), then after a conversion, you may find that you have a currency called 'Pound', which some or all of your accounts have. This is NOT the Microsoft Money currency for UK Pound Sterling, but an additional one. It may not be a problem at first, but will cause you issues with statement downloads and stock/fund price downloads should you want to perform these operations.

You may also see an error message when importing a bank statement. The message will say "Your statement contained a default currency (GBP) which was unrelated to the currency of the account. Money does not support statements containing unrelated default currencies". This is caused by this 'Pound' currency. To fix this problem, see Article 534.

In addition to accounts, you should delete the Pound currency from investments. The currency on an investment is defined by the country it is assigned to, so you should change the country/region to something else, and then change them to United Kingdom.

By changing everything to the 'British Pound' currency, you should be able to update investments and use online banking correctly.

Alternatively, you could change the currency in Quicken to use the 'British Pound' currency before you perform the conversion, as that would avoid the problem after conversion.

Category: Quicken

Keywords: pound, currency, conversion, Intuit, Quicken