What is a QIF file and how to use it

QIF stands for Quicken Interchange Format. Was introduced by Quicken a long time as a way to transfer financial data between other software and Quicken, between bank downloads and Quicken, and is still very useful.

The QIF file format is supported by various financial applications (some of them listed below):

Why is QIF format so easy and powerful?

What is the difference between QIF, QFX, and QXF formats?

Why does Quicken (Intuit) consider QIF as an outdated format?

This article explains why Quicken moves from QIF to QFX (OFX). However, QIF is still widely supported, including all Quicken versions (for Windows, and Quicken for Mac 2007 recently updated to support OS X Lion).

Another issue is that you cannot use the Quicken Interchange file ‘directly,’ even if you can open and see it in the text editor. Use QIF2CSV to convert QIF files to CSV format compatible with Excel and other spreadsheet software.

Since the format was widely used, there are several variations presenting data in a different way which can cause incompatibility across different software packages or when used in different countries:

If you are using Quicken right now, you can rely on QIF format as your ability to import your transactions into Quicken. The Quicken Interchange file you are importing has to follow certain rules to make Quicken or other software import it. ProperSoft tools should help you with this task.

Since the format is so simple and has many features, most likely will be widely used as a move transactional data. Many mobile apps created lately to support the format for import, export, and exchange.

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