Convert QIF files to QBO (Web Connect) format and import into Quickbooks

This tutorial shows how to convert a QIF file from your bank or credit card statement to QBO (Web Connect) and import into Quickbooks. We will use QIF2QBO 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 QIF2QBO. Download it from the QIF2QBO download page. Start QIF2QBO and select a QIF file.

QIF2QBO Windows Step 1: select a QIF file

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

QIF2QBO 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).

QIF2QBO 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.

QIF2QBO 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. You can also set End balance, Bank ID, Branch ID if your accounting software requires it.

QIF2QBO Windows Step 5: currency

Click 'Convert' button to create a QBO file.

QIF2QBO Windows Step 6: click Convert

Confirm the file name and location.

QIF2QBO 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 that account you need to import into doesn’t have the yellow strike icon. Click 'Lists' - 'Charts of Accounts'.

QIF2QBO Windows Step 8: 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.

QIF2QBO Windows Step 9: yellow strike icon in Quickbooks

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

QIF2QBO Windows Step 10: edit Account in Quickbooks

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

QIF2QBO Windows Step 11: deactivate all online services in Quickbooks

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

QIF2QBO Windows Step 12: 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.

QIF2QBO Windows Step 13: select an existing account in Quickbooks

Now your data is imported.

QIF2QBO Windows Step 14: 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.

QIF2QBO Windows Step 15: click on transaction list 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.

QIF2QBO Windows Step 16: payee column in Quickbooks

Once Vendor Records and Account are set, you can add matched transactions to the register.

QIF2QBO Windows Step 17: add transactions to the register in Quickbooks

Step by step instructions for macOS

Make sure you are using the latest version of QIF2QBO. Download it from the QIF2QBO download page. Start QIF2QBO and select a QIF file.

QIF2QBO Mac Step 1: select a QIF file

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

QIF2QBO Mac 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).

QIF2QBO Mac Step 3: INTU.BID

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.

QIF2QBO Mac Step 4: 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. You can also set Balance, Bank ID, Branch ID if your accounting software requires it.

QIF2QBO Mac Step 5: currency

Click 'Convert' button to create a QBO file.

QIF2QBO Mac Step 6: click Convert

Confirm the file name and location.

QIF2QBO 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 to backup your data. Click 'File' - 'Back Up'.

QIF2QBO Mac Step 8: back up in Quickbooks

Make sure that account you need to import into doesn’t have a blue ball icon. Click 'Lists' - 'Charts of Accounts'.

QIF2QBO Mac Step 9: Chart of Accounts in Quickbooks

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.

QIF2QBO Mac Step 10: blue ball icon in Quickbooks

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

QIF2QBO Mac Step 11: edit account in Quickbooks

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

QIF2QBO Mac Step 12: not enabled in Quickbooks

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

QIF2QBO Mac Step 13: disabling an account in Quickbooks

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

QIF2QBO Mac Step 14: file, import in Quickbooks

And select an existing account to import transactions. It shows Account ID, Account Type, that you set in QIF2QBO and it offers you to choose existing Account. Click 'Continue' button.

QIF2QBO Mac Step 15: select an existing account in Quickbooks

Now your data is imported.

QIF2QBO Mac Step 16: 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.

QIF2QBO Mac Step 17: 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.

QIF2QBO Mac Step 18: add transactions to the register in Quickbooks

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