Convert OFX to QBO (Web Connect) and import into Quickbooks

This tutorial shows how to convert OFX file from your bank or credit card statement to QBO (Web Connect) and import into Quickbooks. We will use OFX2QBO utility.

Step by step instructions for Windows

See below steps for the Windows version, followed by the Mac version.

Make sure you are using the latest version of OFX2QBO. Download it from the OFX2QBO download page. Start OFX2QBO and select an OFX file.

OFX2QBO Windows Step 1: select an OFX file

Review transactions before converting, check that dates are correct, have correct year, deposits and withdrawals are in correct places.

OFX2QBO Windows Step 2: review transactions before converting

Before converting the QBO file you have to set INTU.BID number to match your bank or use a default value. INTU.BID defines bank label shown during import. It has to be from the allowed bank. You can try to locate your bank, make sure a bank you choose supports the account type you are converting for. Keep default value if your bank is not listed (3000-Wells Fargo or any allowed bank).

OFX2QBO Windows Step 3: INTU.BID

Set the Account ID (number) and the Account Type. Account ID must be all digits for Quickbooks. For multiple accounts, use a different account ID for each account.

OFX2QBO Windows Step 4: Account ID, Account Type

Currency should be USD even for non-USD accounts for Quickbooks US edition. For Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set.

OFX2QBO Windows Step 5: currency

Click 'Convert' button to create a QBO file.

OFX2QBO Windows Step 6: click Convert

Confirm the file name and location.

OFX2QBO Windows Step 7: file name and location, save

Import created QBO file into Quickbooks

Now the QBO file is created, let's switch to Quickbooks and import created QBO file. Before importing a QBO file make sure to backup your data file. Click 'File' - 'Back Up Company' - 'Create Local Backup'.

OFX2QBO Windows Step 8: back up in Quickbooks

Check that account you need to import into doesn’t have the yellow strike icon. Click 'Lists' - 'Charts of Accounts'.

OFX2QBO Windows Step 9: chart of Accounts in Quickbooks

Because if you have the icon, it means the account is online linked to direct download. You need to disconnect first to import a QBO file.

OFX2QBO Windows Step 10: yellow strike icon in Quickbooks

To disconnect, right-click - 'Edit Account'.

OFX2QBO Windows Step 11: edit Account in Quickbooks

Then click on 'Bank Feed Settings' and 'Deactivate All Online Services' first if needed. Then click 'Save and Close' and 'Ok' buttons. Check there is no yellow icon after the change. After disconnecting the account from online services, you can import a QBO file.

OFX2QBO Windows Step 12: deactivate all online services in Quickbooks

To import a QBO file, select 'File' - 'Utilities' - 'Import' - 'Web Connect Files', select created QBO file.

OFX2QBO Windows Step 13: file, utilities, import in Quickbooks

And select an existing account to import transactions. Check bank label, Account Type, Account number to select correct Account in Quickbooks. Then click 'Continue' button.

OFX2QBO Windows Step 14: select an existing account in Quickbooks

Now your data is imported.

OFX2QBO Windows Step 15: data is imported in Quickbooks

Click on 'Transaction List' to review transactions. Assign Vendor Records and expense/income accounts before adding transactions to the register.

OFX2QBO Windows Step 16: click on transaction list in Quickbooks

'Downloaded as' column shows Payee names from the QBO file.

OFX2QBO Windows Step 17: downloaded as column in Quickbooks

And the 'Payee' column is empty. It shows Vendor Records. When you choose a Vendor Record, for the Payee from the QBO file, QuickBooks will remember your choice for next QBO import.

OFX2QBO Windows Step 18: payee column in Quickbooks

Once Vendor Records and Account are set, you can add transactions to the register. The rename rule creation dialog will show up after to use for the next time.

OFX2QBO Windows Step 19: add transactions to the register in Quickbooks

Step by step instructions for macOS

Make sure you are using the latest version of OFX2QBO. Download it from the OFX2QBO download page. Start OFX2QBO and select an OFX file.

OFX2QBO Mac Step 1: select an OFX file

Review transactions before converting, check that dates are correct, have correct year, deposits and withdrawals are in correct places.

OFX2QBO Mac Step 2: review transactions before converting

Before converting the QBO file make sure that you set the Account ID (number) and the Account Type. Account ID must be all digits for Quickbooks. For multiple accounts, use a different account ID for each account.

OFX2QBO Mac Step 3: Account ID and Account Type

Currency should be USD even for non-USD accounts for Quickbooks US edition. For Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set.

OFX2QBO Mac Step 4: currency

You have to set INTU.BID number to match your bank or use a default value. INTU.BID defines bank label shown during import. It has to be from the allowed bank. You can try to locate your bank, make sure a bank you choose supports the account type you are converting for. Keep default value if your bank is not listed (3000-Wells Fargo or any allowed bank).

OFX2QBO Mac Step 5: INTU.BID

Click the 'Convert' button to create a QBO file.

OFX2QBO Mac Step 6: click Convert

Confirm the file name and location.

OFX2QBO Mac Step 7: confirm file name and location

Import created QBO file into Quickbooks

Now the QBO file is created, let's switch to Quickbooks and import created QBO file. Before importing a QBO file make sure that account you need to import into doesn’t have a blue ball icon. Click 'Lists' - 'Charts of Accounts'. If it has a blue ball icon it means the account is online linked to direct download. You need to disconnect first to import a QBO file.

OFX2QBO Mac Step 8: blue ball icon in Quickbooks

To disconnect, right-click - 'Edit Account'.

OFX2QBO Mac Step 9: edit account in Quickbooks

Then click 'Online Settings' and select 'Not enabled' and click 'Save'.

OFX2QBO Mac Step 10: not enabled in Quickbooks

Then click 'Ok'. Check there is no blue ball after the change.

OFX2QBO Mac Step 11: disabling an account in Quickbooks

To import a QBO file, select 'File' - 'Import' - 'From Web Connect', select created QBO file.

OFX2QBO Mac Step 12: file, import in Quickbooks

And select an existing account to import transactions. It shows Account ID, Account Type, that you set in OFX2QBO and it offers you to choose existing Account. Click 'Continue' button.

OFX2QBO Mac Step 13: select an existing account in Quickbooks

Now your data is imported.

OFX2QBO Mac Step 14: data imported in Quickbooks

'Downloaded Payee' column shows Payee names from the QBO file. Assign Vendor Records and expense/income accounts before adding transactions to the register.

OFX2QBO Mac Step 15: downloaded payee in Quickbooks

And the 'Payee' column is empty. It shows Vendor Records. When you choose a Vendor Record, for the Payee from the QBO file, QuickBooks will remember your choice for next QBO import. Once Vendor Records and Account are set, you can add transactions to the register. The rename rule creation dialog will show up after to use for the next time.

OFX2QBO Mac Step 16: payee in Quickbooks

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