How to import transactions into Wave Accounting (OFX)

Wave Accounting (Wave Apps) imports transactions from OFX files, including the Microsoft Money OFX, QuickBooks QBO and Simply Accounting (Sage) variants. It fails on OFX files where the decimal separator is not a dot. If your transactions are in CSV, Excel, PDF, QIF or MT940, convert them to OFX with ProperConvert first.

Try Wave's direct bank connection first. Use a file import when that option is not available or does not work.

File formats supported by Wave

Wave imports OFX, QFX and QBO files. OFX is the best option.

For CSV, Excel, PDF, QIF or MT940 files, convert to OFX in ProperConvert and select "OFX All apps" as the OFX variant.

Wave reads these transaction details from an OFX file:

• date
• amount
• description
• transaction ID (used internally by Wave, not shown to users)

Use a dot as the decimal separator

The OFX spec allows both a dot and a comma as the decimal separator. Some apps accept both, but Wave only accepts a dot. North American users rarely see this issue; files from banks that use a comma do not import.

ProperConvert lets you set the decimal separator for OFX files. Set it to dot. See the OFX output settings.

Wave import questions

How does Wave assign expense and income accounts (categories)?

OFX files do not carry categories, and they should not: your bank does not know your accounting setup. Wave learns your category choices over time and preselects them on your next import.

Does Wave have bank feeds like QuickBooks?

No. Wave imports directly into the register but marks transactions as "not reviewed". Once you review a transaction and assign an account, it counts toward the balance.

Does Wave support transfers between accounts?

Neither Wave import nor the OFX format supports transfers. Wave has a tool that finds matching transactions in two accounts with the same date and amount. You can then mark them as a transfer.