How to Use Bank2OFX

This tutorial shows how to use Bank2OFX utility. IMPORTANT: Bank2OFX is now replaced with the Transactions app, which converts from more formats and converts to more formats.

Step by step instructions

You can download Bank2OFX at https://www.propersoft.net/products/bank2ofx

Click the 'Download' button.

Bank2OFX Step 1: Download

And then select Windows or macOS version to download.

Bank2OFX Step 2: Select Windows or macOS

Once downloaded and installed, start Bank2OFX. Read the welcome message that provides the main points about the conversion process.

Bank2OFX Step 3: Welcome message

Select a file with transactions that you would like to convert. It could be a PDF bank or credit card statement, QIF or QMTF file exported from Quicken or other accounting software, OFX, QFX, QBO, STA or MT940 file downloaded from online banking.

Bank2OFX Step 4: Select a file

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

Bank2OFX Step 5: Review transactions before converting

Set the Account ID and Account Type. The Account ID must be digits only. You can enter the actual account number or credit card number, or a shortened number. It is important to use the same number when you convert multiple files for the same account and use a different number when you start converting for another account.

For example, let's start with the first file for a checking account. Convert the first file and use Account ID as 10000001. Then you convert a second file for the same checking account, keep the same Account ID 10000001.

Bank2OFX Step 6: Account type Checking

Then you start with a credit card account. For the first file for the credit card account, change the Account ID to another number, for example, 10000002. For the second file for this credit card account, keep the Account ID as 10000002.

When you start working with another account, make sure to adjust the Account Type as well.

Bank2OFX Step 7: Account type Creditcard

The Currency can be adjusted and specific accounting software may require the Currency match as well as Bank ID and branch ID.

Bank2OFX Step 8: Currency

Bank ID and Brach ID are the settings, that you need to set for some accounting software, for example, Sage 50, to match exactly what you have in your accounting system to import OFX files successfully. If your accounting software does not require a Bank ID or Brach ID, then simply leave this blank.

Bank2OFX Step 9: Bank ID and Brach ID

Choose the OFX Target to better work with your accounting software or use the "Regular OFX" option.

Bank2OFX Step 10: OFX Target

There are some other settings discussed in another video, we would skip these for now as you need them only in specific situations and you know when you need to change these settings.

Bank2OFX Step 11: Other settings

Set the “Open after save” checkbox if you would like the software installed on your computer to open the created OFX file. If you have Quicken installed, it would be MS Money to open this OFX file.

Bank2OFX Step 12: Open after save

Click the 'Convert' button.

Bank2OFX Step 13: Convert

And confirm the filename and the file location.

Bank2OFX Step 14: Confirm the filename

To import the created OFX file manually, in MS Money, click 'File' - 'Import' - 'Downloaded Statement'.

Bank2OFX Step 15: File, Import in MS Money

Go to the location, where you save the file. Click the 'Import' button.

Bank2OFX Step 16: Go to the location in MS Money

Select the account MS Money to import. Click the 'Next' button.

Bank2OFX Step 17: Select the account MS Money

Import complete.

Bank2OFX Step 18: Import complete

Review transactions.

Bank2OFX Step 19: Review transactions

This tutorial is for the latest Bank2OFX version. If you are still using version 3 and looking for the tutorial, please use this tutorial.

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