Import an OFX file into MYOB

This tutorial shows how to import an OFX file with transactions into Online Accounting system - MYOB.

If you are familiar with this system, you know, that it is usually for Australian businesses. MYOB supports OFX and QIF import and if you have another format, you could use a ProperSoft converter, like the Transactions app, Bank2QIF, or Bank2OFX, or PDF2QIF, or PDF2OFX, or CSV2OFX, or CSV2QIF. And for QIF files ProperSoft converters have the specific MYOB Target to create compatible MYOB QIF files and use a specific data format, another thing, that the MYOB system expects. If you use some converter, you would select just a Regular OFX file to create compatibility with the MYOB OFX file. If you downloaded MYOB from your Online Banking, then you would just upload it to MYOB. If your OFX file is not accepted by MYOB, then you could use a Bank2OFX converter and convert your not-compatible OFX file to a compatible OFX file. To proceed with the OFX file, first, you need to login into MYOB. Then click on 'Banking' - 'Bank transactions'.

Import OFX into MYOB Step 1: click Banking

Click 'Import statements'.

Import OFX into MYOB Step 2: Import statements

Select an account you want to import your data. We will use a 'Cheque account'.

Import OFX into MYOB Step 3: select account

Browse to select an OFX file and click 'Open'.

Import OFX into MYOB Step 4: select ofx file

And 'Date format if using QIF' setting applicable to QIF files for OFX files, you can ignore it.

Import OFX into MYOB Step 5: Date format if using QIF

To import an OFX file, click 'Import now'.

Import OFX into MYOB Step 6: Import now

The statements have been imported successfully. Now we have four imported unallocated transactions - one deposit, three withdrawals.

Import OFX into MYOB Step 7: statements imported successfully

We have to review transactions, Account, Tax code, split transactions if needed. Continue with all transactions. You can also create a rule for the next OFX import, if it is the same - Payee, Amount, same Description. Then this accounting system will be allocated automatically.

Import OFX into MYOB Step 8: review transactions

Let's say, if you realized, that the OFX file was not imported correctly, click 'Import statements' - 'View Import History'.

Import OFX into MYOB Step 9: View Import History

Select an account you've imported your data.

Import OFX into MYOB Step 10: Select account where imported your data

Then click 'Action'.

Import OFX into MYOB Step 11: click action

Click the 'Continue' button.

Import OFX into MYOB Step 12: click continue

And then click the 'Delete' button.

Import OFX into MYOB Step 13: click delete button

This is the way to roll back from an incorrectly imported OFX file.

Import OFX into MYOB Step 14: click delete button

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