This tutorial shows how to convert a CSV file from your bank or credit card statement to IIF format and import into Quickbooks. We will use the CSV2IIF utility.
Use the ProperConvert app to convert your transaction files from CSV/Excel to IIF.
Use sample.csv file. The CSV file has four transactions with properly marked column names:
We need to set the Account Name, that will be used for an IIF file in the right-side panel, as a Checking Account Name.
If needed, on the left sidebar, there are some controls to set, to tell the Converter how your CSV file is formatted. You can set the date format, and the year if it is missing.
If this is a Credit Card file with amounts (like expenses are positive, and payments to the account are negative), you can use "change +/-" to reverse amounts.
To create complete IIF files, your CSV file must have a category column, because an IIF file requires two accounts for each transaction.
For one account that is Bank or Credit Card Account Name, you can also specify a separate column, called Account Name, and Map this column in the Mapping. But usually, when you download from your bank, the CSV file is for a specific account. So you set the Account Name, which you have in Quickbooks, not Account Number. The CSV file from a bank is usually will have the category missing, and you need to open a file in Excel and add the category column, enter doc expense, income Account Name and done convert. We will click 'Convert' and create a sample.iif file. Now we are going to switch to Quickbooks and check Chart of Accounts, which is a Checking Account, it does exist and if it doesn't exist when you're importing the IIF file - Quickbooks will create everything, that is missing. So if your Vendor records are missing or they are not matching with what you have, then Quickbooks will create new Vendor records. If expense accounts are missing, then Quickbooks will create them.
IIF considered the low-level format of the system. It means that you provide data and Quickbooks will import it. The Converter takes your data, as you provide, and formats an IIF file, what Quickbooks expects.
To import the IIF file click File - Utilities - Import - IIF Files. Before you import any IIF file, easily created by the Converter or any file, not just an IIF file, make sure your backup your Quickbooks Company file: make the copy, backup, do what Quickbooks tells you to do. When you import this, something terrible could happen: it could damage your file, it could do some changes, especially the IIF file, that you need to revert later. So quickly go back and make a copy before importing.
Open sample.iif file. We have this file imported as an Account Payroll. It wasn't in Quickbooks, it was in the file, so this account was created. What happens to this type? Quickbooks tells that you must use the IIF file, general ledger Account type, and then Quickbooks will look at your transactions and select transaction type for that transactions. Because it's Checking Account and the money coming out, and they supposed to be checked. That's why it's marking as CHK - Check Account. When Check Account is presented, it was used from the IIF file, those a Vendor records, Account Names: Payee, Bookstore Invoice, Accounts, Office Supplies (account number and account name are shown). But overall the file was created, and expected transactions are in the right place.
Follow the steps below for the Windows version.
Make sure you are using the latest version of CSV2IIF. Download it from the CSV2IIF download page. Start CSV2IIF and select a CSV file.
The IIF format allows better control for imported data than the QBO format and is importable by older Quickbooks.
CSV file must have Date, Amount, Category (expense/income account), Payee (Vendor in Quickbooks), Bank or Credit Card Account name.
Click 'Change +/-' to reverse the amount sign for the whole file. Useful for Credit Card files with positive amounts for expenses.
Review transactions before importing, and click the 'Convert' button to create an IIF file.
Confirm the file name and location.
Now the IIF file is created, let's switch to Quickbooks and import created IIF file. Make sure to backup your Quickbooks data file before any IIF import.
In Quickbooks, click 'File' - 'Utilities' - 'Import' - 'IIF Files'. Locate the IIF file you've just created.
Done! Transactions are imported.
Review transactions in Quickbooks after importing.