In Quicken I can use the “update now” text to automatically update my accounts with the latest transactions. Does that functionality exist in Kmymoney? If so, how do I locate how to do this? Thanks.
1 Like
My understanding is that Quicken gets the information directly from the bank(s) and then delivers it to you, so that approach cannot work for KMyMoney.
In KMM, I believe that functionality only works for accounts which have been mapped to online accounts, so it depends on how you have mapped them. aqbanking should work, although I do not use it. OFX mapping would work, but only if the institutions support OFX Direct Connect, and in the US, I’m not sure if there is anyone that still support it.
For all accounts within a single institution, you can often export the data for all accounts in a single file, but multiple accounts can only be imported by KMyMoney from QIF or OFX, not from CSV files.
I tried one account: Ally Bank. Went into map account from the account page and none of this worked. Went into ofx importer as one of the two options and all I get is an error message that says unknown host. Have no idea what to do with that. I am not going to manually import files from each bank that I have, that is taking 3 steps backwards. In quicken all is set up to get transactions from each account and then I check off each transaction and it gets entered in the register with the category that I want. I am not sure this program is ready for replacing the more automated setup with Quicken.
Update all acounts is greyed out for me.
did you configure aqbanking to at least sync all bookings into one account? Ally bank is a US bank so OFX might work also like @ostroffjh wrote. KMM does not “talk” to banks directly like quicken does. It needs an interface software like aqbanking, etc.
As soon as you configure one account correctly, your menu option should not be greyed out anymore.
The option becomes available if at least one (KMyMoney) account is mapped to an online account in e.g. AqBanking (see Account/Map account...)?
I would monitor the network traffic and check if your Quicken application contacts each bank separately or it only contacts a Quicken server as a middle-man. I would not trust the latter because it most likely uses a proprietary protocol. Please correct me if I am wrong in this assumption.
KMyMoney has the AqBanking plugin which is able (only for a few banks and not worldwide though) to download one’s bank transactions into KMyMoney. It supports communication protocols like HBCI (works for German banks, see list of banks) and OFX DirectConnect (USA, Canada).
So it should be comparable to your Quicken setup.
BUT : it may not work in your case, that depends on:
- Which bank exactly do you download data from? You wrote “Ally bank”. Are there others?
- Which operating system runs on your computer? (if windows, then there are versions of KMyMoney without AqBanking and versions with it, so attention is needed here)
1 Like