Convert XLS to OFX

What is XLS file?

The XLS is a file extension used by the Microsoft Excel spreadsheet program for saving and storing spreadsheet documents. This format makes it possible to store words, formulas, formatting, macros, and other data in an organized bulletin format. XLS documents are typically used for business calculations, general accounting, budgeting and forecasting, or any range of other data storage tasks. They are able to be opened in any version of Microsoft Excel starting with version 1997. [ ⏩ ] XLS file extension

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

How to convert the file from XLS to OFX?

To successfully convert the XLS file to OFX, 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.XLS). The next step is to select the target format from the list, in this case OFX (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 OFX).

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. XLS to OFX. To obtain a matched structure of the data, it is necessary to use an appropriate converter.

Program for converting XLS files to OFX 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 OFX, while before this step we had the XLS file). For the programs, the difference is on a much higher level – either the application will be able to open a new OFX file, or not.

Other XLS and OFX file conversions