This tutorial shows how to convert CSV/Excel file with transactions (with categories) to the QIF format and import directly into bank or credit card account in Quicken 2017 for PC. We will use CSV2QIF utility.
When you open CSV2QIF for the first time it will ask you to get a trial license. And your conversion with a trial license is limited to ten transactions per file. To convert without limits, please purchase for the license, but you can try before purchasing on the limited number of transactions (up to 10 transactions) and this video shows how to convert sample.csv file to QIF format and import into Quicken 2017 for PC. Select a sample.csv file.
It has four transactions: three expenses and one deposit. And this is like transactions look after parsing.
This is how the Source file looks like, it has column names: Date, Amount, Payee, Memo, Check #, Type, Category.
CSV looks like a text file.
What can you do here? You can change Mapping on your CSV file, reassign columns if you like. The converter tries to read your CSV file, tries to read your column names. And if it says 'Date' column, 'Payee', 'Amount', 'Memo', it will find those columns and assign them automatically. But you can change them. You can say, this is gonna be Payee or this is gonna be Memo. You can change all that and save as new Mapping.
Importing for Credit Cards: sometimes Credit Card Company supplies CSV files with the reverse sign for Amounts (we can see it in this example: expenses are positive and payments to the account are negative). For Quicken, for QIF file, or for QFX file, or Quickbooks, expenses have to be negative and payments/deposits to the account have to be positive. Click the 'Charges +/-' button and it has to look like this: the Amount is negative for expenses and positive for the deposits.
There is an important moment - Target. The QIF file has different flavors. So you have to select the flavor of accounting software, you're gonna import into. In our case, it gonna be Quicken 2017 for PC. Account Type gonna be Bank for Checking Account or Savings Account. For Credit Card, you have to select CCard.
Another important thing is Account Name: you can name as IMPORT or RBC Bank. You have to enter the actual account name, you have in Quicken. How to get this Account Name?
Let's say you enter Account Name. Click 'Tools' - 'Add Account'.
You say, that it is gonna be a Checking Account.
Click 'Advanced Setup'.
Then select 'I want to enter my transactions manually' and click 'Next'.
Let's say the Account Name/Nickname is RBC Bank. This is the actual name, copy it and click 'Next'.
Statement ending date, for example, 10/18/2016. Click the 'Next' and 'Finish' button.
Now we have RBC Bank.
If you already have an account, click 'Tools' - 'Account List'.
And this is the Account Name. In our case, RBC Bank.
Or you can click 'Edit' and copy the Account Name.
Let's go back to Converter. And paste the Account Name. The things, like Encoding, Amounts, Shares, Dates at the right panel, you can change them unless you exactly know, that you need to change them, otherwise you can leave them at least. For Quicken these things as default, especially dates. Dates have to be as MM/DD'YYYY. If you select Quicken 2017, or 2015, or 2014, or 2007, for all these Quickens the Date format will be ignored. It will be used like MM/DD'YYYY. But whatever you say here, it will not be used for this Quicken QIF Target.
QIF file can import the Categories, this is the adventure of QIF file over Web Connect file, QFX file.
Click the 'Convert' button and create a QIF File.
Come back to Quicken. Click 'File' - 'File Import' - 'QIF File'. Then click 'Browse' and select a QIF file, which was just created. Select 'All account' (it's important!) and click 'Import'.
Done! We see 4 items imported.
We see the transactions at the bottom, we can 'Accept All'.
Here they are: Checking Account, imported Data.
Let's say, we want to create Credit Card. So the Account Type: CCard, Account Name: Capital One. The expenses have to be negative and payments to the Account have to be positive. We don't change anything also, click the 'Convert'. Name, as a new file (sample1.qif).
Come back to Quicken. Click 'File' - 'File Import' - 'QIF File'. Click 'Browse' and select that sample1.qif, click 'Open'. Then select 'All Account' and click 'Import'.
We entered 'Capital One' (Account Name), but in Quicken there is no 'Capital One'. So if you don't enter the exact account name and you don't have this account in Quicken, you will get prompt from Quicken: Capital One account does not exist. Quicken will use the located account or ask to create a new account. So we click 'Yes' (add new Account).
Done! Four items successfully imported. Click 'Accept All'.
Review transactions after import.
What you have to do, if you see the message: 'QIF import is not available for checking, savings, credit cards,401(K) and all other brokerage'. Don't read this, ignore this message. But don't forget to select 'All account', behind this message.