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.
Use the ProperConvert to access or convert transaction files from QIF and to the QIF format.
QIF (Quicken Interchange Format) is a file format used by Quicken personal finance software to store financial data. It is a text-based file format, which means that it can be viewed and edited with a text editor, although it is typically more convenient to use a software program that is specifically designed to handle QIF files.
QIF files are commonly used to store information such as bank account transactions, stock portfolio holdings, and credit card charges. This data can be imported into Quicken from other financial software programs, or from a financial institution's website, in order to keep track of personal finances.
In a QIF file, each piece of financial data is represented by a series of fields, separated by commas or other delimiters. For example, a transaction might be represented by fields for the date, payee, amount, and account, among others. This allows the data to be organized and easily understood by both humans and software programs.
The QIF file format is supported by various financial applications (some of them listed below):
One advantage of using QIF files is that they are relatively simple and easy to work with. They can be created and edited with a text editor, and many financial software programs support importing and exporting data in this format. This makes it possible to transfer data between different programs, and to share data with others.
Another advantage of QIF files is that they can store a wide range of financial data, including information about bank accounts, credit cards, investments, and other assets. This allows users to keep track of all their financial information in one place, making it easier to manage their money and make informed decisions about their finances.
Overall, QIF files are a useful tool for managing personal finances, and are widely used by individuals and businesses alike. Whether you are trying to keep track of your spending, save for retirement, or simply manage your money more effectively, QIF files can help you stay organized and make the most of your financial resources.
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.