Converting from MS Money 2006 standard

I posted this over on the QuickBooks group but since this potentially involves Quicken I am posting it here too....

I have a client who we would like to convert from MS Money to QuickBooks. The data represents about 10-15 savings, checking and credit card accounts of the clients personal finances.

One methodology proposed is to convert the file to Quicken and then convert the Quicken file to Quickbooks.

Has anyone done this before that could share their experience with me?

The alternative methodology proposed is to run reports in Money to Excel and use a third party tool to convert the excel file to an IIF file. I know that IIF files have their own problems but I am wondering if this would have LESS problems then converting the MS money file.

In either case, there is a lot of clean up that needs to happen before the data can be brought into Quickbooks and I am thinking that it might be easier to do the clean up in excel rather than in Money or Quicken.

Any thoughts or suggestions?

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Laura
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