Make transaction files work with Wave, Sage, FreeAgent, LessAccounting and others

Each accounting app listed below imports one or more formats like OFX, QFX, QBO, QIF, or CSV. Scroll down to each format section to see converters for that format.

If your app is not listed, let us know so we can add it. Check with your accounting software for supported import formats like OFX, QIF, or CSV. Then see the converters below for your original file type.

All conversions and formats mentioned below are supported by the ProperConvert app.

Common file formats supported by accounting software

See below file format(s) supported by specific accounting software/service

Convert to the OFX format

OFX files are Open Financial Exchange files. This is the most popular format. Apps like Xero, Sage, FreeAgent, MS Money, and ZarMoney all import OFX. For most software and online services, OFX is the first choice. There are a few OFX variants, so select the correct "OFX file type" for your app. When not sure, select "OFX all apps."

Convert CSV/Excel/TXT files to the OFX format.
Convert PDF files (text-based) to the OFX format.
Convert QIF files to the OFX format. This avoids date format confusion, as QIF files may use DD/MM/YYYY or MM/DD/YYYY.
Convert non-importable OFX/QBO/QFX files to a correct OFX file.

OFX format includes a transaction ID (reference ID). QIF does not. The reference ID (when supplied by your bank) lets you skip already-imported transactions.

OFX files need to be created differently for different software. This includes Microsoft Money (US and non-US), old Microsoft Money 99/2000, and other software like Sage.

Convert PDF to OFX

The ProperConvert app converts PDF statements for bank and credit card transactions. These details are extracted from PDF files:

date.
amount.
description.
check number.
payee (extracted from the description).

These are matched to the OFX transaction fields: date, amount, payee, memo, check number.

Convert XLS/Excel/CSV to OFX

To convert XLS, XLSX, Excel, CSV to OFX (Excel file to OFX format), you can use the following method.

Prepare your Excel file

Open your XLS file in Excel and examine it. If columns do not have headers, add them if possible.
Use a sample CSV file as a guide for how your spreadsheet should look.
Select all transactions including the header (or press CTRL+A) and copy to the clipboard (CTRL+C).
Download and install ProperConvert. On PC, check the file is signed by ProperSoft. On Mac, allow the app from an identified developer.
Start the app and click Paste from clipboard.
Adjust the mapping if needed.
Check the Transactions tab to confirm dates, amounts, memos, and other columns are correct.
Set account details: account number, bank id, and currency must match your accounting software settings. Some software like Sage and Xero check these values and will not import an OFX file that does not match.
Click the Save button on the Transactions tab to create the OFX file. The converter saves it in the same folder as your CSV/Excel file. If you used copy/paste, you may need to change the folder.
Import into MS Money: open MS Money and select File, Import, Statement file. Then import the OFX file.
Import into Sage (Sage 50, Sage One): open Sage and import the OFX file.

Convert to the QIF format

QIF format is supported by Xero. Use the date format expected by your country settings. When using a converter, select the QIF target as "MS Money or other" and set the output date format:

Convert CSV/Excel/TXT files to the QIF format.
Convert PDF files (text-based) to QIF.
Convert QFX files to the QIF format.
Convert QBO files to the QIF format.
Convert QIF files to the importable QIF variant.
Convert QFX/QBO/OFX files to QIF or make your QIF file importable.

Convert to the CSV format

Convert CSV/Excel files to compatible CSV format
Convert PDF files to the CSV format

Typical file formats importable by accounting software

For Xero, convert to OFX, QFX, QBO, QIF, or CSV.
For Sage One, Sage 50, or Sage 300, convert to OFX.
Wave Accounting imports QFX and OFX.
FreeAgent imports OFX, QFX, QBO, and QIF (CSV may also work).
LessAccounting imports QIF and QFX.
ZarMoney imports OFX and QFX.
YNAB imports CSV, QIF, QFX, and OFX.
MS Money imports QIF and OFX (and also QFX and QBO).

Convert transactions to a format importable by ZarMoney

ZarMoney imports OFX, QFX files.

Convert transactions to a format importable by Sage 50, Sage 300, Sage One

Sage imports OFX files. Sage comes as desktop software (Sage 50, Sage 300) and as an online service (Sage One). For both products, the bank ID, branch ID, and account number in the OFX file must match the account settings in Sage.

Convert Transaction data to a format importable by FreeAgent

Use the ProperConvert app to convert your transaction files to the format FreeAgent needs. OFX, QFX, QBO, and QIF are all supported. OFX gives the best results.

You can get a transactions file from your online banking. If FreeAgent does not import it, convert it to a correct OFX format using ProperConvert. For example, if you have a PDF bank or credit card statement, convert it to OFX first.

How to import an OFX file into FreeAgent

Log into FreeAgent.
Click on 'Banking'.
Click 'Upload a bank statement'. FreeAgent supports OFX, QIF, and CSV.
Click 'Select a file'.
Select an OFX file. You can get this from your online banking or create one with ProperConvert from another format like PDF.
Select which account to upload to, for example 'Business Checking Account'.
You may select 'Guess explanations for my bank transactions,' but it is better to use it after a few statements once you have assigned some categories.
Click 'Upload Statement'.
Once the statement is imported, click 'Review your transactions.'

OFX, QIF, or CSV files must include payee names. The names do not need to match exactly what is in your accounting system. Even a generic name like "Payment" works. You still need to match each transaction to a vendor record and an expense or income account:

Select a 'Category'.
Change the 'Description' to something meaningful in your system and click 'Explain Transaction'.
Repeat for all transactions.

Once you have matched some transactions, the system can guess categories the next time you import an OFX file.

QBO and QFX files are similar to OFX with extra details. These extra details do not matter for FreeAgent. If your QBO or QFX file does not import, convert it to a standard OFX file first.

QIF files differ from OFX/QFX/QBO. Watch the date format (MM/DD/YYYY vs DD/MM/YYYY) and the decimal separator (dot vs comma). Amounts must not use a thousands separator.

If your QIF file does not work with FreeAgent, use ProperConvert to convert it to OFX. Then import the OFX file into FreeAgent.

Import a PDF file into FreeAgent

To import transactions from a PDF file into FreeAgent, first convert it to OFX using ProperConvert. The app extracts date, amount, description, and check number from bank and credit card PDF statements. The payee name is pulled from the transaction description by removing common noise like dates and numbers. Use the built-in renaming feature to refine payee names to match your vendor names in FreeAgent.

Convert transactions to a format ready for LessAccounting

LessAccounting supports QIF and QFX import. If you already have files in these formats, just import them.

If you have a CSV or Excel file, convert it to QIF or QFX first. Then import into LessAccounting.

If you have a PDF file, use ProperConvert to convert it.

If you have QBO or OFX files, try importing them directly. These are extended OFX files. If LessAccounting does not import them, use ProperConvert to convert first.

If LessAccounting will not import your QIF or QFX file (not made by ProperConvert), the file may not follow the format specs correctly. It may be named QIF or QFX but not properly structured. ProperConvert tolerates many file errors and can create a correct file from it.

Convert transactions to OFX or QIF format importable by Microsoft Money

Microsoft Money Sunset Edition imports QIF and OFX files. It also imports QBO and QFX files (see below). There are some differences between QIF and OFX/QFX/QBO import, but either format works well.

Use the ProperConvert app to convert your transaction files to the format required by your accounting software.

How to Import QBO and QFX files into MS Money

QBO and QFX files are extended OFX files. MS Money follows the OFX spec, so it should import QBO and QFX files as OFX. To import a QFX or QBO file in MS Money:

start MS Money and select File-Import-Downloaded Statement
select All files on the file dialog
select a QBO or QFX file

Learn More

QBO - What is QBO (web connect) format
QFX - What is QFX file/format and how to open it?
OFX - What Is OFX File Format and How to Open it?
QIF - What is QIF file/format and how to open it?