ProperSoft Blog

What is QFX file and how to create it

Sergiy — Tue, 15 May 2012 11:34:34 +0000

QFX file or QFX format is OFX based format supported by Quicken. OFX specification allows additional tag to be added, so it makes OFX parsers to be ready for unknown tags and therefore able to parse QFX files as well.

QFX files also known as Web Connect files.

You can QFX files from other formats using the following tools:

to convert from OFX to QFX use OFX2QFX
to convert from CSV to QFX use CSV2QFX
to convert from XLS to QFX use CSV2QFX (open the file in Excel, select all CTRL+A, copy to clipboard CTRL+C and click “paste from cipboard” in CSV2QFX)
to convert form QIF to QFX, use QIF2QFX or Bank2QFX

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How to convert XLS (excel) to OFX in 7 simple steps

Sergiy — Tue, 15 May 2012 11:19:52 +0000

To convert XLS (Excel) file to OFX format, you can use the following method:

Open your XLS file in Excel and examine it. If transaction columns do not have the header, simply add them (if possible)
Select all transactions including the header (or simply press CTRL+A) and copy to the clipboard (CTRL+C)
Download and install CSV2OFX located at http://www.propersoft.net/csv2ofx/
Start CSV2OFX and click the Paste from clipboard button
Examine the transactions on the Transactions tab for dates, amounts, memos and other columns properly assigned
Click the Save button on the Transactions tab to create the OFX file
Start your software (MS Money, or other) and import the OFX file

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How to convert a CSV file into Web Connect format

Sergiy — Fri, 30 Mar 2012 20:38:39 +0000

Web Connect (QFX) format is modified OFX format supported by Quicken as well as other software generally supporting OFX format (you may need to simply rename the QFX file extension to OFX to be ‘seen’ by the software filtering OFX only files on the file dialog).

To import QFX file into Quicken, click File, then Import, then Web Connect file. And select the QFX file using file dialog.

How to create Web Connect QFX file if you have your transactions in CSV format? Use CSV2QFX converter to convert CSV files to Web Connect QFX format.

You can download and try CSV2QFX free. The output is limited to three transactions in the demo, but creates fully functional, ready to import Web Connect QFX file.

CSV2QFX will try to detect contents in your CSV file automatically, and then you can click the Review Mapping button to adjust assigned columns. If you create the CSV file yourself, make the first line as the column names (date, amount, payee, memo) as it will be great help to CSV2QFX to figure out the contents of your file and automatically assign the columns for you.

Important note about INTU.BID, bank id and account id values on the Setting tab. You can either leave them as is, select other supported bank, and enter other values for bank id and account id. Quicken will use INTU.BID show corresponding bank name on the import screen, but actually giving you choice to select existing account or create new one. This is great confusion since the INTU.BID bank identification on the Web Connect QFX file is relevant to the account for which the import is happening. You can easily import Web Connect QFX files marked as from one bank to actual needed account in Quicken. Simply choose the bank currently ‘supported’ by Quicken using the Lookup button and complete the import.

Quicken assigns INTU.BID, bank id and account ID to the Quicken account (account created by you in Quicken) after successful import calling it ‘linked online services’. You can always delete such online services by editing the account in Quicken (click on the Online Services tab), if you need to import other Web Connect QFX file with other values for INTU.BID, bank id and account id.

P.S. if you excel file instead of CSV, simply open it in Excel, select all (CTRL+A) and copy to clipboard (CTRL+C). Switch to CSV2QFX and click on the Paste from Clipboard button to paste data from the clipboard. This approach saves you from creating CSV file from your excel file. The approach also applies to other spreadsheet software supporting copy and pete of multiple cells into the clipboard.

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How to import QIF into Quicken 2012

Sergiy — Tue, 27 Mar 2012 18:54:45 +0000

QIF files should be created either by CSV2QIF (CSV to QIF converter) or Bank2QIF (Bank to QIF Converter) (you can use Bank2QIF to ‘fix’ your QIF as well).

When you convert a CSV file to QIF using CSV2QIF (CSV to QIF converter), enter the account name exactly as you have in Quicken and select the account type (BANK for checking and saving accounts, CCARD for credit card accounts, INVST for investment accounts).

When you convert a bank file (OFX, QFX, QIF, QBO, ASO) to QIF using Bank2QIF (Bank to QIF Converter), load the file and click on the Account Mapping tab and enter the account name as you have in Quicken for each loaded account.

Once QIF file is saved, do the following: Start Quicken and click File, then File Import, then QIF file.

On the import screen, select from the account drop down list. Ignore message about QIF limitations.

Review your imported transactions (Done!).

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How to convert OFX files to QIF

Sergiy — Thu, 09 Feb 2012 21:48:11 +0000

OFX files can be easily converted to QIF using either OFX2QIF or Bank2QIF converters. The converters designed to make the conversion process simple and straightforward, and you can actually see the data you are converting

Preview

See the contents of the OFX file before converting. OFX files are not easy to observe through notepad or other text viewing tool, and converters are doing great job showing you the data as regular table.

Easy to convert

Simply load the file, review it and click the Save button to create the QIF file and finish the conversion.

Select all or less

You can optionally deselect some transactions you don’t want to be imported

Automate

Both converters support command line automation.

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How To Import CSV Into Quicken

Sergiy — Tue, 24 Jan 2012 20:12:31 +0000

Quicken does not support direct import for CSV files, but you can easily convert CSV files into one of the following formats:

Convert CSV to QIF

Convert CSV to QIF using CSV2QIF. CSV2QIF is capable to create different QIF variants (for Quicken, for MS Money, or for other finance applications), so you need to make sure to select Quicken as the QIF target (Quicken is selected by default when you start the program for the first time).

But Quicken 2005, 2006, 2007, 2008, 2009, 2010, 2011 does not allow QIF files to be imported under checking, savings, credit card, broker and investment accounts, right? Not exactly. There is different QIF file variations. QIF created for MS Money, or provided for download by your bank are not accepted by Quicken unless you import them under a cash account.

However, CSV2QIF creates QIF files for Quicken, and Quicken does accept these files. In fact all Quicken versions for Windows (up to Quicken 2012) import QIF files just fine under checking, savings, credit card, broker, and investment accounts.

Where is the catch then? The catch is that you need to enter the account name in CSV2QIF exactly as you have it Quicken, otherwise during QIF import, Quicken will try to create a new account with that name. For example, if your checking account in Quicken is called “Checking” or “Bank checking” or other name, you need to enter this name exactly in CSV2QIF (as well as select correct account type) before saving a QIF file.

What is the advantage of using QIF files? Quicken does not require “online call home” during the import. You do not need to have internet connection active and firewall enabled for Quicken to go through to import a QIF file. This can come quite handy when you work and travel and do not have internet always on, but need to complete your finance report on time.

Another advantage? Creating investment transactions becomes quite easy, when you comfortably working in Excel, then copy and paste them in CSV2QIF and import QIF into Quicken.

So when QIF is not good? For Quicken Essentials for Mac. This Quicken variant does not allow QIF files at all. Please see the next paragraph on how to import your CSV into Quicken including Quicken Essentials for Mac.

Convert CSV to QFX (Web Connect)

Convert CSV to QFX (Web Connect) using CSV2QFX. CSV2QFX creates QFX files acceptable by Quicken. CSV2QFX covers bank (checking and savings, credit line and credit card accounts. During QFX import, Quicken ‘calls home’ using internet connection (so please make sure your firewall allows it to go through), and assigns bank details supplied in QFX file with selected account in Quicken. Even more, if Quicken find the match for bank details in the QFX to details with an account, it imports data there automatically. Otherwise, if offers you the import dialog to select existing “unlinked” account, or create new one.

QFX format supplies unique id for each transaction, and Quicken uses it to avoid import for the same transaction next time. However, when you prepare your CSV file, it is common you may notice some transactions mistakes, so you need to fix them and import the file again. Even if you deleted the transaction in Quicken, it still refuses to import it the second time.

To deal with your need to import corrected transactions again, CSV2QFX allows to create unique transaction IDs every time you save the QFX file (this option is turned on by default), as well as keep transaction IDs consistent if you need them to be this way.

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QFX or QIF: which format is better for you to import data in Quicken?

Sergiy — Thu, 19 Jan 2012 12:15:39 +0000

Quicken for Windows up to the latest 2012 version, supports import for QIF and QFX (Web Connect) files.

Here is the major differences between QIF and QFX (Web Connect) format when you try to import them under Quicken:

Vendor Support

Quicken claims that the QIF format is outdated, and not supported anymore, however still allows to import a QIF file. On the QIF import screen Quicken tells, than you can import a QIF file only under cash account, offering in the drop down choice for account selection only cash accounts, but also “” as well. Guess what, unless you have Quicken Essentials for Mac, QIF files are fully supported, but not the ones your bank offers you for download. There slightly different, “Quicken only”, QIF files that Quicken 2012 imports just fine under any account. CSV2QIF (CSV to QIF converter) and Bank2QIF (OFX, QFX, QIF, QBO, OFX to QIF converter) will help you create those files.

“Call Home” Required

Quicken does not do any “home calls” during QIF imports , but it does every time you are trying to import a QFX file (yes, you need internet connection, your firewall must allow Quicken to go through just to import a QFX file that you have locally on your computer). Quicken checks if the bank code supplied in the QFX file is ‘allowed’ by Quicken for specific bank and even more bank account type. Some banks come and go, so your bank may drop QFX support tomorrow.

“Online linking”

Once a QFX file is imported under an account in Quicken you choose during the import, it “online links” that account to bank settings supplied in that QFX file. If you have other QFX file with different settings then your currently for the account in “online link”, Quicken will not allow you to import that other QFX file under “occupied” account. The cure for that is simple: edit account, click on “Online Services” tab and select “deactivate online link”.

Categories and Tag

QFX format as extended OFX format with additional Quicken only details, but the OFX specification does not provide category or tag attribute for transactions (or anything else similar) That’s it, you cannot import categories and tags assigned to your transactions using the QFX (Web Connect) format. On other hand, QIF format still imports categories and tags just fine. There is a workaround (no great, but some) this limitation for categories: you can set “rename rules” in Quicken to have categories assigned to specific payee names. Should be ok for most payees, but not retailer stores, like Walmart.

Investment transactions

QIF format simplifies investment transactions by limiting the security identification to just security name. That’s it, no ticker symbol, no CUSIP numbers, just full Security name. When you import a QIF file with investment transactions under Quicken (or MS Money), Quicken will look up the security by its full name. You need to make sure your securities names do match the ones on the QIF file, but nothing more. For QFX (OFX) case, each transaction must be accompanied by the security record with CUSIP supplied. You do need to have CUSIP number for every security to create proper QFX file that Quicken can import.

Available converters to convert your existing transaction file to QIF or QFX:

To convert your existing transaction file to QIF format, use the following converters:

CSV (or excel) to QIF: CSV2QIF
OFX to QIF: Bank2QIF
QFX to QIF: Bank2QIF
QBO to QIF: Bank2QIF
‘Fix’ QIF: Bank2QIF
CSV (or excel) to QFX: CSV2QFX
OFX to QFX: OFX2QFX
QBO to QFX: Bank2QFX
QIF to QFX: QIF2QFX

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Quicken is slow importing investment transactions on existing account

Sergiy — Tue, 17 Jan 2012 21:39:27 +0000

Trying to import a QIF file with 2000 investment transactions (converted from CSV to QIF using CSV2QIF) under new account in Quicken 2011 Home and business, the file imported within a minute. I decided to import it the second time to emulate the import under existing account. This time the same file took 20 minutes to import – much longer than the first time.

Keep this mind when you have thousand transactions file to import for an investment account. It might be good idea to break the file in chunks and convert and import them separately – this way you know already imported parts are done.

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Does really Quicken 2012 import only QXF format, but not QIF and QFX?

Sergiy — Sun, 15 Jan 2012 23:27:56 +0000

Quicken 2012 (home and business) imports the following formats:

“regular” QIF for cash accounts
“correct” QIF for all accounts including checking, savings and credit card. Quicken tells it is not possible, but it does import anyway as long as QIF if prepared correctly. Use CSV2QIF or Bank2QIF to create “correct” QIF files
QFX (Web connect), extended OFX format with Quicken attributes to import under all accounts. If your QFX file is not importing under specific account, edit that account, click “Online services” and delete online services link there before importing. Use OFX2QFX to convert your OFX files to QFX format
QXF – new Quicken format used to move data between Quicken applications. I may be wrong, but last time I checked banks do not offer QXF downloads or third party software creates QXF files.

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How to convert PDF files from your online banking to QIF or OFX format.

Sergiy — Thu, 15 Dec 2011 20:01:35 +0000

Many banks provide PDF downloads for your bank account and credit card statements, and when you need to load your data into your accounting software, you are wondering how this could be done.

Converting a PDF file to a ‘data’ format could be tricky task especially if PDF is “image”, not text document, so what should you do or what tool should you use?

The answer is – nothing. You should download PDF files for your records, and look for “accounting” section on your online banking page. If it usually in separate section, when PDFs are usual in “Download” section. The accounting section requires to provide input from your side (date range, account, etc.) therefore it is not available just ‘for download’.

Many banks prepare QIF, OFX, QFX, QBO and other formats for you on demand. Look for the ‘Accounting’ section or call your bank and ask them how to generate and download these files for you. At least should provide a CSV format.

You can convert CSV files to QIF using CSV2QIF, CSV to QFX using CSV2QFX, CSV to OFX using CSV2OFX, CSV to QBO format using CSV2QBO.

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