Converting QFX files to QBO files for Import to QuickBooks via Web Connect

July 19, 2011

Annoyingly, QuickBooksQuickBooks doesn’t support the import of QFX files (the reason for this is that Intuit charges banks for the ability to export financial data in the .qbo web connect format supported by QB.   If your bank doesn’t pay this fee, you can’t download your financial data directly into QuickBooks).

Fortunately, you can use a quick little hack to sidestep this limitation:

1) Download your financial data as a QFX file.

2) Open the file in a text editor, like Notepad++, and locate the Intuit Bank ID label near the top of the code: <INTU.BID> with a number after it.

Sample QFX File:

<OFX>
<SIGNONMSGSRSV1>
<SONRS>
<STATUS>
<CODE>0
<SEVERITY>INFO
</STATUS>
<DTSERVER>20090618000000[-5:EST]
<LANGUAGE>ENG
<FI>
<ORG>ABC BANK
<FID>12345
</FI>
<INTU.BID>1234
</SONRS>

3) Change the number after <INTU.BID> to a banking institution that is supported by Intuit. 2430 seems to work well for this.

4)  Save the file as .qbo.

5)  Import the QBO file into QuickBooks Pro via Banking > Online Banking > Import Web Connect File or simply opening QuickBooks and double clicking on the .qbo file to import it.

6) You will be prompted to select an account into which to import the QBO file.

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