Open QFX File

Convert OFX to QFX

Through this step-by-step guide, you will see how you can convert an OFX file to QFX using the OFX2QFX utility.

We will first review the concepts of each format, and then delve into the conversion.

OFX

An OFX extension file is used by the Open Financial Exchange (OFX) as an open format to transfer data between all actors in the commercial and financial scene, such as suppliers, consumers and banking systems.

OFX files are sent to individual users of credit cards and bank accounts as statements from a financial institution.

They usually contain transactions and account statements.

QFX

Similarly, the QFX extension files are part of the Quicken financial software and basically save the financial data imported into the software.

Therefore these files are considered data files.

It includes account balances, transactions, discounts and more information that is recorded in a standardized format.

The QFX format is Quicken's proprietary format, although it is similar to the open OFX format.

Step by step to convert an OFX file to QFX

1. The first step to take is to review the transactions before converting and then click the "Convert" button in OFX2QFX to create a QFX file.
2. Then, when switching to Quicken you must click on 'File / Import File' - 'Web Connect File (.QFX)' and 'Open'.
3. Here we see "Create a new account" or "Link to an existing account".
4. You can perform various actions, such as import to a Proxy account, called 'Import' and then move those transactions to another account, this being a good way to import things if you already have an existing account from your bank.
5. You can also choose 'Link to an existing account'.
6. Now you will see imported transactions. Click 'Accept All'.
7. If you have a checking account and you want transactions there, then you click the first transaction, you click the last transaction.
8. You can create a new account: click on 'Tools / Add account', and suppose it will be a "current" account.
9. Configure your bank details manually, or select it from a list. Click on "Advanced Settings".
10. Then select 'I want to enter my transactions manually', enter the name you want to use for this account in Quicken, enter the end date and balance of your last account statement and click 'Finish'.
11. Now the transactions are in the 'Current' account, pasted from the 'Import' account.