QBO vs QIF vs OFX vs QFX: bank file formats explained
Quick answer
QBO is the format QuickBooks reads; QFX is the format Quicken reads; OFX is the open standard both are based on; QIF is an older plain-text format; CSV and Excel open in any spreadsheet. They all carry the same bank transactions - date, amount, and description - just in different wrappers. StatementTidy turns a PDF bank statement into CSV, Excel, QBO, or QIF entirely in your browser.
What is a QBO file?
A QBO file is QuickBooks Web Connect format - a QuickBooks-specific flavor of OFX. It carries bank transactions that QuickBooks Online and QuickBooks Desktop can import directly, with each line holding a date, an amount, and a description.
What is a OFX file?
OFX (Open Financial Exchange) is the open standard that QBO is based on. Many banks and finance tools read OFX. A QBO file is essentially OFX with QuickBooks-specific identifiers.
What is a QIF file?
QIF (Quicken Interchange Format) is an older plain-text format for importing transactions. Each transaction is a few lines: a date, a signed amount (money in is positive, money out is negative), and a payee or description. GnuCash and Moneydance still import it, but current Quicken for Windows doesn't accept QIF for checking, savings, or credit card accounts.
What is a QFX file?
QFX (Quicken Financial Exchange) is Quicken's branded version of OFX, used for transactions downloaded directly from a bank into Quicken. It is similar to OFX and QBO but tagged for Quicken.
What is a CSV and Excel file?
CSV and Excel (XLSX) are universal spreadsheet formats. They are not tied to any accounting tool, so they are the best choice when a human needs to review, edit, or re-map the data before importing it anywhere.
Which format should you use?
| Your tool | Best format |
|---|---|
| QuickBooks Online or Desktop | QBO |
| Quicken (bank and card accounts) | QFX from your bank |
| GnuCash or Moneydance | QIF or OFX |
| Excel or Google Sheets | CSV or Excel (XLSX) |
| A reviewer who needs to edit first | CSV or Excel |
Convert your statement to any of these
StatementTidy reads a digital PDF bank or credit card statement in your browser and exports the transactions in the format your tool needs. Nothing is uploaded.
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Frequently asked questions
What is a QIF file?
A QIF (Quicken Interchange Format) file is an older plain-text file of transactions. Each transaction stores a date, a signed amount, and a description. GnuCash and Moneydance import it; current Quicken for Windows only accepts it for cash, asset, and liability accounts.
What is a QBO file?
A QBO file is QuickBooks Web Connect format - a QuickBooks-specific version of the OFX standard. QuickBooks Online and Desktop can import a QBO file directly into a bank or credit card account.
What is the difference between QIF and QBO?
QIF is an older plain-text format and QBO is QuickBooks' Web Connect format. They hold the same kind of data (dated transactions with amounts and descriptions) in different structures. QuickBooks imports QBO but not QIF.
What is an OFX file?
OFX (Open Financial Exchange) is the open standard for exchanging financial data. QBO and QFX are both based on OFX; a QBO file is OFX with QuickBooks identifiers, and a QFX file is OFX tagged for Quicken.
What is a QFX file?
A QFX (Quicken Financial Exchange) file is Quicken's branded version of OFX, used when you download transactions from a bank directly into Quicken.
QFX vs QBO: what's the difference?
Both are OFX-based files with Intuit tags and the same kind of transaction data. QFX is labelled for Quicken and QBO for QuickBooks; QuickBooks Online also accepts QFX uploads.
QIF vs QFX: which should I use for Quicken?
QFX. Current Quicken for Windows doesn't accept QIF for checking, savings, or credit card accounts and recommends Web Connect (.QFX) files from your bank.
OFX vs QFX: what's the difference?
OFX is the open standard; QFX is Quicken's branded version with an extra bank identifier tag that Quicken checks on import.
Can I import a QIF file into QuickBooks?
Not directly - QuickBooks imports QBO and CSV rather than QIF. If your destination is QuickBooks, use a QBO file instead. StatementTidy can convert a PDF bank statement straight to QBO.
How do I convert QFX to QBO?
Drop the QFX file on StatementTidy's QFX to QBO converter and download QBO. Both formats are OFX-based, so every transaction and its ID carries over unchanged, and the conversion runs in your browser.
Which format should I use for QuickBooks?
Use QBO for the cleanest QuickBooks import. CSV also works if you prefer to map columns during import.