Transactions: Make your transaction files importable into your accounting software

Need to import bank or credit card transactions in a CSV/XLS/XLSX/TXT, PDF, QFX, OFX, QBO, QIF/QMTF, MT940/STA file into your accounting or personal finance software but cannot seem to make it work?

The Solution: try the ProperConvert app. It can convert your transactions into a format that your accounting/personal finance software can import.

Import Into QuickBooks (Desktop and Online)

For QuickBooks desktop, convert to QBO (Bank Feeds or web connect) format or IIF format if you have QuickBooks 2021-2024. QBO and IIF files are importable by QuickBooks Enterprise as well.

For older QuickBooks Desktop versions, convert to the IIF format.

QBO (web connect) transaction files are imported the same way as transactions downloaded directly from your bank. After import, open imported statement under Bank Feeds, match vendor records and assign expense/income accounts and add transactions to the register.

IIF transaction files are imported directly into the Quickbooks Desktop register and require exact vendor names and expense/income accounts. The Transactions app provides interface to map payee names to vendor names and assign categories (expense/income accounts) based on payee names or direct edit.

Import Into QuickBooks Online

For QuickBooks Online, convert to QBO (web connect) format or QFX format or as CSV files (set target as "Quickbooks Online"). Quickbooks Online imports more transaction details through QBO and QFX files (date, amount, payee, memo, check) than CSV files (date, amount, description).

Import into Quicken

For Quicken for Windows, convert to the QIF or QFX format if you have Quicken Classic (2018+).

For Quicken for Mac, convert to the QFX format is you have Quicken (2018+).

For older Quicken for Windows versions, convert to the QIF format.

For older Quicken for mac versions, convert to the CSV Mint format.

QIF transaction files are easily imported by Quicken (please make sure to your QIF target accordingly) and allow to supply categories and tags for each transaction. The Transactions app provide easy to use mapping interface to assign categories based on payee names or manually during the conversion. QIF files have less restrictions compared to QFX file as they do not identify financial institutions like QFX files.

For QFX transactions, Quicken uses the renaming rules to assign categories during import.

Import into Other Desktop Accounting or Personal Finance software (Microsoft Money and others)

Your accounting or personal finance software (like Banktivity, MYOB, Sage 50, Sage 300, NetSuite) should import transactions using one of the following files formats: CSV, OFX/QFX/QBOO, QIF. The Transactions app converts to all these listed formats.

For example, MS Money imports QIF and OFX (and QFX and QBO).

Import into Online Accounting Software (Xero, FreeAgent, Sage, others)

Online accounting services like Xero, FreeAgent, LessAccounting, MYOB, Wave, and others, usually imports OFX or QFX or QBO files and optionally CSV files. Search your accounting software documentation for things like "how to import a bank statement in [Xero, FreeAgent, etc]" to confirm which file format these services import.

Conversion Options for Different File Types

The Transactions app creates files with transactions in CSV, QIF, QFX, OFX, QBO format. It works with bank statement files or bank files (CSV, PDF), online bank or financial institutions accounting downloads (CSV, QFX, OFX, QBO, QIF, MT940). Both bank account transactions and credit card transactions are supported. Check which file types your accounting software imports and convert to a file with expected file extension.

Types of Transactions to convert

The Transactions app converts bank and credit card transactions. Depending on your accounting software, each type of transaction could have slightly different definition (for example, when compering QuickBooks and Quicken), but overall supported transaction types are deposit, check, payment, credit card charge, credit card payment, credit card refund.

Backup your accounting software company data file

Before importing any files into your accounting software, make sure to backup your company data file. Apps like QuickBooks or Quicken provide easy to use and fast backup options that will take few seconds and save you lots of lost time in case of incorrect import. Import data with confidence you can easily rollback to previous state. Do backups for major changes like disabling online services as well.

Many accounting software packages like QuickBooks Desktop (any edition like QuickBooks Pro or QuickBooks Premier or QuickBooks Accountant) provide a buffer zone (bank feeds center) to review imported transactions and delete (ignore) or add to the register. Online solutions like Xero or QuickBooks Online have similar interface to review and match imported transactions.

How to use the Transactions app

This tutorial shows how to use the Transactions app.

Use the ProperConvert app to convert your transaction files to required by your accounting software file format.

Step by step instructions

This tutorial outlines the conversion process in general and uses converting to the QBO format and importing into Quickbooks Desktop as a specific example to demonstrate the whole process. For other formats and accounting software examples, please see the tutorials on the support page.

Once downloaded and installed, start the ProperConvert app, read the welcome message, that provides the main points about the conversion process.

Select a file with transactions that you would like to convert.

The first thing to do is to select the output format on the right sidebar. It could be QBO/QFX/OFX format, QIF format, IIF format, CSV format. The output format defines the transaction details.

Review transactions before converting, make sure dates are correct, expenses are negative and payments to the account are positive.

Set the output attributes: Account Name or Account ID, Account Type.

And other applicable attributes. If you are converting for multiple accounts, make sure to adjust account properties to avoid importing into a previous account. Please check other tutorials for the specific output format, for more details, for each setting, for that specific format.

Set the 'Open after save' checkbox if you would like the software installed on your computer to open the created file, for example, for the QBO files, if you have Quickbooks Desktop installed, it would be Quickbooks to open this QBO file. Click the 'Convert' button.

And confirm the file name and the file location.

To import created QBO file manually in Quickbooks, click 'File' - 'Utilities' - 'Import' - 'Web Connect Files'.

Select created QBO file.

Choose a new or existing account to import. If your account is not listed under an existing account, make sure, that Online services are disabled for this account.

Review imported transactions under the Bank Feeds in Quickbooks.

Match payees to Vendor records, assign expense/income accounts, and add transactions to the register. See a separate video going into details for QBO file import in Quickbooks.

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