What are OFX, QFX, QBO (Web Connect) files?

OFX, QFX, QBO files are transaction files used to receive information from financial institutions. QFX and QBO files are essentially OFX files with additional details added as the OFX specification allows formats extensions:

extract transactions from CSV files

You can open QBO, QFX, and OFX files in any text editor, but they are hard to edit. Accounting apps prefer these formats because they store transaction data in a fixed structure, unlike CSV or Excel. To edit the data before importing, convert to CSV first, then convert back.

These three formats share the same OFX spec, so many apps can import all three. But some apps only accept one format, so you may need to convert:

Some older personal finance and accounting software may prefer another format, QIF (Quicken Interchange format), and you may need to convert OFX/QFX/QBO files to QIF.

Accounting apps almost never export in OFX, QFX, or QBO formats. Those formats are meant for bank responses. Apps typically export in QIF instead. So you may need to convert QIF files to OFX, QFX, or QBO to import into Quicken, QuickBooks, or other apps.

Some transformations below you may find useful:

When you convert transactions, follow these simple guidelines:

Let's look at each conversion variant after defining each format.

What is OFX file/format?

OFX stands for Open Financial Exchange. It is a format for sharing financial data between apps and banks. Apps like QuickBooks, Quicken, and Microsoft Money use OFX to import and export transactions, account details, and bill payments.

OFX uses XML tags to structure the data. This lets different apps read it in a standard way. OFX files can include bank, credit card, investment, and other transaction data.

To import an OFX file into your accounting app, go to File > Import and select the file. To download one from your bank, log in, go to the download or export section, and choose OFX as the format.

What is QFX file/format?

QFX is based on the OFX format. It is an open standard supported by many personal finance and accounting apps. QFX files carry transactions, account data, and investment or tax info. Apps like Quicken and Microsoft Money support QFX. QFX files are the offline WebConnect format for Quicken.

What is a QBO (web connect) file/format?

QBO is the QuickBooks version of the OFX format. It stores transactions, account balances, and bank records. You can download a QBO file from your bank and import it into QuickBooks or another app. To use QBO data in Excel, convert it to CSV. To use it in Quicken, convert to QFX or QIF.

What is Web Connect Quicken/Quickbooks?

WebConnect links Quicken or QuickBooks to your bank or credit card account. It lets you download transactions directly into the app. To set it up, update your software, go to the Banking menu, and select Add Account > WebConnect. Follow the steps to connect your account.

Once set up, transactions download without manual entry. WebConnect also categories transactions based on your rules. Your login stays secure because you log in through your bank's own website. QBO files are the offline version of WebConnect for QuickBooks.

Convert OFX to QFX

ProperConvert converts OFX files to QFX quickly. Load your OFX file, and the app creates a QFX file ready for Quicken.

You will need to set INTU.BID and may adjust account ID, bank ID, branch ID and the currency.

Convert OFX to QFX (Web Connect) and import into Quicken

Follow the steps as an example for OFX to QFX conversion and import into Quicken:

If you imported into a new account, you can right-click to select all transactions and move them to another account.

As an option, import into a proxy account named 'Import', then move transactions where you need them. This is useful if you already have an account with direct bank downloads. You can also choose 'Link to an existing account'. That account must be deactivated from direct download first. Click Import.

Convert OFX to QBO

ProperConvert converts OFX files to QBO for QuickBooks. Load your OFX file and the app creates a QBO file. Like QFX files, QBO files need an INTU.BID value. You can also adjust account ID, bank ID, branch ID, and currency.

Convert QFX to QBO

ProperConvert converts QFX files to QBO so you can import them into QuickBooks. You can change the INTU.BID value, account ID, bank ID, branch ID, and currency as needed.

Convert QBO to QFX

ProperConvert converts QBO files to QFX for Quicken. You can change the INTU.BID value, account ID, bank ID, branch ID, and currency as needed.

Convert OFX, QFX, QBO to CSV

ProperConvert converts OFX, QFX, and QBO files to CSV. Open the CSV in Excel or another spreadsheet app to review or analyze your data.

Convert CSV to OFX, QFX, QBO

ProperConvert also converts CSV files to OFX, QFX, and QBO. This is useful when your data is in CSV but your accounting app needs OFX, QFX, or QBO. Edit your data in Excel first, then convert and import.

Convert QIF/QMTF to OFX, QFX, QBO

ProperConvert converts QIF files to OFX, QFX, and QBO. If you are moving from an older app, use its export-as-QIF option. Some apps export as QMTF, which ProperConvert also supports.

Convert QBO, QFX, OFX to QIF

ProperConvert converts QBO, QFX, and QBO files to QIF. If your app uses QIF, convert your bank's OFX, QFX, or QBO files to QIF. The QIF format covers most of the details found in OFX/QFX/QBO files.

Convert PDF to OFX/QFX/QBO

If you only have PDF files, ProperConvert can extract the transaction data and convert it to OFX, QFX, or QBO. Load your PDF and choose the output format. This is useful for turning paper statements into a format your accounting app can import.

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