First you must move the files from their current location on your hard-drive to the iCloud folder. This first step is not done from within Manager. Backup your business before starting.
(Correction: Don’t import: that will only put the data back in the original folder)
Next, open Manager, click on the “About Manager” tab, and then click “Change” to navigate to your data folder within the iCloud folder.
Here’s the Application Data Folder guide.
Other Mac users have reported problems too. See this discussion: [17.5.8] Added budgeting (+ going back to Application Data folder) - #38 by clive