Guide
CSV, OFX and QIF: bank file formats explained
Banks and accounting software talk about CSV, OFX, QIF and QBO files. Here’s what each one is, and which you need.
The formats
| Format | What it is | Used by |
|---|---|---|
| CSV | Comma-separated values: a plain table, one transaction per line. Columns vary by source. | Excel, Google Sheets, Xero, QuickBooks Online, FreeAgent, Sage |
| OFX | Open Financial Exchange: a structured file with defined fields for date, amount, payee and account. | Most accounting software |
| QBO | Intuit’s variant of OFX, often called Web Connect. | QuickBooks, especially Desktop |
| QIF | Quicken Interchange Format: an older text format, still accepted in places. | Older money-management software, some accounting packages |
Why CSV is usually the practical choice
CSV is the only one you can open, read and fix in a spreadsheet. If a date or amount looks wrong, you can see it. OFX and QIF are better defined, but you can’t easily check them by eye. StatementToCSV exports CSV in three layouts (for Excel, Xero and QuickBooks) so the columns match what each program expects.
How to choose
- For a spreadsheetUse CSV. Choose the converter’s CSV for Excel.
- For XeroCSV, OFX or QIF all work. Use the Xero CSV from the converter.
- For QuickBooks OnlineCSV works. Use the QuickBooks CSV.
- For QuickBooks DesktopIt usually needs QBO/OFX files, which the converter doesn’t produce yet.
Getting any of these from a PDF
Banks provide OFX, QIF or CSV downloads for recent transactions in online banking, but not for old periods and not for statements someone has sent you as PDFs. That’s where converting the PDF statement comes in. See bank statement to CSV.
Looking inside a CSV
A CSV is plain text, so you can open it in Notepad or TextEdit to see exactly what’s inside: the header row, then one transaction per line with commas between the fields. Descriptions containing commas are wrapped in double quotes so they stay in one column. That transparency is the main reason CSV is the format of choice for checking data before an import.
Questions people ask
Is CSV the same as Excel?
No, but Excel opens CSV files directly. Save as .xlsx once you add formulas or formatting.
Can the converter produce OFX?
Not yet. It produces CSV in Excel, Xero and QuickBooks layouts.
Which format keeps the running balance?
The converter’s CSV for Excel includes a Balance column. Accounting imports don’t need it.