Custom Currencies are not supported after Quicken Conversion

After a successful conversion of a Quicken file, you may receive the message 'custom currencies are not supported' when you try to view the accounts.

This problem should only manifest itself on Microsoft Money 2005 and higher, as Money 2005 was the first version that did not support custom currencies, having greatly expanded the available currencies instead (see also Article 390 and Article 195).

The error message is shown below:

Money no longer supports custom currencies. Please choose a currency from the list to replace your custom currency Pound

After selecting a currency and clicking 'OK', you receive a new message:

To use this currency, you must establish an exchange rate between it and your base currency.

For some people, when following the instructions given and choosing a currency and exchange rate, it hangs the Money program.

The simplest way around this, and this is especially if you've just upgraded from Intuit Quicken, is to go back to the Quicken program and change the 'Pound' currency to 'British Pound'. The reason behind this is when Money imports the file with the altered currency, it will match the 'British Pound' against the same currency in Money. If it can't match (for example if 'Pound' is in use), then it gets stuck and wants you to choose a new one.

This can occur for other locales. The way of fixing it in these situations is to look at the currency list of the version you have (2005 - Article 195, 2006 - Article 209, 2007 - Article 416 and 2008 - Article 508) and change the currency in Quicken to match the ones in Money before conversion.

Category: Quicken

Keywords: Pound, Conversion, Quicken, Currency, Intuit, Custom