Input file
OFX
- Full Name: Open Financial Exchange Format
- Developer: N/A
Output file
QIF
- Full Name: Quicken Interchange Format
- Developer: Intuit
What is OFX file?
The OFX (.OFX) file extension is a generic XML-based open-financial exchange file used by software applications to facilitate financial information exchange between financial institutions, financial data aggregators, or financial software. It is based on the Open Exchange Specification (OFX), a standardized set of data structures for exchanging financial data such as PIN security authentication with an online banking system. [ ⏩ ] OFX file extension
What is QIF file?
A .QIF file is a financial data interchange file type. This file is associated with the Quicken software, produced by Intuit. It is widely used in accounting applications to store and transfer account data. The QIF file can contain transaction records from accounts such as bank, credit card, or investment accounts. Structure of the QIF File The QIF file uses a text-based structure to store the data. [ ⏩ ] QIF file extension
Software, that you can use to convert
How to convert the file from OFX to QIF?
To successfully convert the OFX file to QIF, you should install one of the applications from the list. After installing the software, open the program and select the file you want to convert (file-name.OFX). The next step is to select the target format from the list, in this case QIF (usually converters allow you to convert to several different formats, so check out their features - maybe one of the available formats will suit you more than QIF).
What is a file conversion?
A data conversion is normally an automated process to some extent. The effect of the operation of one program is automatically the input product of another application. If that does not happen we need to help the process a little bit and convert the file on our own, e.g. OFX to QIF. To obtain a matched structure of the data, it is necessary to use an appropriate converter.
Program for converting OFX files to QIF files is a kind of a "binary code translator" compensating for the differences in the code or translating it in such a way so that another application could use it. For us, as users, the visible change will be only another file extension. (After converting the file, it will be the extension QIF, while before this step we had the OFX file). For the programs, the difference is on a much higher level – either the application will be able to open a new QIF file, or not.