MoneyThumb
Main Menu
Navigation
  • Who We Serve

      MCAs

      Analyze bank statements and other financial documents into an instant scorecard to determine an applicant’s credit worthiness and get to an approval in minutes, not days.

      Small Business Lenders

      Evaluate financial documents and get an underwriting scorecard instantly with our automated document processing and fraud analysis tool. Get to Yes or No faster than your competition.

      Mortgage Lenders

      Ideal for bank statement and asset-based loans and other non-QM loans, PDF Insights and Thumbprint can save time and money while mitigating risk.

      Accounting Professionals

      Convert PDF bank and credit card statements or other accounting file formats into QBO, OFX, CSV for import into accounting systems or other assessment.

      Small Business Owners

      Get your financials up to date by effortlessly and accurately extracting transactions from bank and credit card PDF statements into suitable formats (QBO, QFX, QFX, QIF, CSV) for import into your accounting software.

      Individuals

      Convert or migrate financial transaction data to or from personal finance apps. Reads PDF bank and credit card statements, Mint, Quicken Export File, QIF and CSV files.
  • Products

      PDF Insights

      Enables banks and fintechs to read and analyze financial documents in seconds to determine a loan applicant’s credit worthiness.

      Thumbprint®

      Instantly evaluates and scores the authenticity of PDF financial documents giving you a fraud score so you can make more confident lending decisions.

      Server API

      Provides access to PDF Insights and Thumbprint through a REST API for seamless integration with your CRM.

      QuickBooks Converters

      Convert virtually any file type into the QBO format for quick and easy import into QuickBooks Desktop or QuickBooks Online.

      Other Accounting Converters

      Convert financial transactions into leading accounting systems such as Xero, FreshBooks, Sage, Wave, Zoho, YNAB, and others.

      Converters for Spreadsheets

      Our converters bring transactional data into spreadsheets from PDF, OFX, QBO, QFX, or QIF.
  • Help Center

      Learning Center

      Everything you need to know to make the most of your MoneyThumb products – from tutorials to a glossary of terms and other resources – all at your fingertips.

      Tutorials and Guides

      Get access to clear step-by-step instructions with screenshots for each of the products that we offer. Leverage the power of your MoneyThumb product.

      FAQs

      Have a question on one of our products? Check out our comprehensive FAQs page and find the answers you need to make the most of your MoneyThumb tool.

      My Account

      Once you become a MoneyThumb customer, you can access and manage your products using your unique username and password.

      Resend My License

      If you need your license code resent, no problem! Send us a request using our request form and we’ll resend it to you.

      Contact Support

      Can’t find the answers you need on our website? You can reach out to our expert support team and get fast answers to your product questions.
  • Company

      About MoneyThumb

      MoneyThumb has been a leader in financial document conversion services since 2015. Learn about our journey and what makes us tick.

      Our Leadership Team

      We’re a hard-working and fun-loving group, and we’re passionate about helping our clients become more efficient and productive. Meet the people behind MoneyThumb.

      Affiliate Program

      Become a MoneyThumb affiliate partner and get access to one of the industry’s best affiliate programs. Earn commission while introducing your clients to a great product.

      Blog

      Your resource for a curated collection of informative articles for accounting and bookkeeping professionals, lenders, and small businesses.

      Contact Us

      Need to get in touch? Fill out our form and our sales or support team will reach out.

      Submit a Review

      We love hearing from our customers. If you’ve had a positive experience with a MoneyThumb product or with our customer service team, please write us a review.
  • Login
Search
Close

qfx2qbo Convert | Help

© Copyright 2019 MoneyThumb LLC

Contents

  • QFX2QBO Convert
    • Getting Started
    • Installation
    • Entering License Information
    • Preparation
    • Running QFX2QBO Convert
      • Settings Dialog
      • Converting the QFX File
    • Importing QBO files into QuickBooks
    • Troubleshooting
      • Your bank is not present in the list of FID's.
      • QuickBooks Error: "QuickBooks is currently unable to verify the financial institution for this download. Please try again later."
    • Saving the QFX2QBO Convert Log


QFX2QBO Convert

Getting Started

QFX2QBO Convert is a single step financial data translator to convert from QFX format (suitable for Quicken® software) to QBO format (suitable for QuickBooks® software).

Use QBO2QFX Convert when you need to import transaction data into QuickBooks and are only able to download QFX format from your bank. QFX2QBO Convert can also be used to import security independent brokerage transactions into QuickBooks, which does not normally read investment accounts.

To get started first set your QuickBooks account information and date formats with the Settings button. It is important to select an FID. If your bank is not listed, then it is not supported by QuickBooks, and you need to select the FID of some other bank as a workaround. See more about FID's below.

Then either drag and drop your QFX file into the converter drop zone or select the Convert button to choose a file to convert. This will bring up a standard file chooser. Navigate to the folder containing your .qfx file, select the file, and then select the Convert to qbo button at the bottom of the file chooser. This will run the converter and create your .qbo file in a single step. The .qbo file will be created in the same folder as the .qfx file, and using the same file name but with a .qbo extension.

Installation

  • Microsoft Windows® full install
    • Download QFX2QBO.exe for Windows, save the file to your computer, and run the installation program by double clicking the file.
    • If you do not have have Java installed it will be automatically downloaded during the installation.
  • Mac OS X® full install
    • Download QFX2QBO.dmg for Mac OS X, save the file to your computer. Locate the file in the download area, open it by double clicking, then and run the installer.app by double clicking it.
    • If you do not have have Java installed it will be automatically downloaded during the installation.

Entering License Information

Enter the license by copying the license string (CTRL-C) from the confirmation e-mail and pasting it (CTRL-V) into the converter license dialog. To enter the license string manually from within the program select the License button, and paste (or type) the full license code into the dialog.

On Microsoft Windows, you can copy the license file qfx2qbo.lic from the product confirmation e-mail to the same folder where you installed QFX2QBO Convert - i.e. C:\Program Files (x86)\MoneyThumb\qfx2qbo Convert.

After you enter your license, your license email will be shown in the program title bar, and in Help, About.

Preparation

There are two things to do before running QFX2QBO Convert:

  1. Create a QFX file. Most of the time this will be downloaded from a bank or brokerage web site, or perhaps created by another software application.
  1. Get the account number of the QuickBooks account into which you want to import transactions. If you are creating a new account, then any number will suffice. If you wish to import transactions into an existing account, then QuickBooks will match up the account numbers, and you will want to import into the correct account.

Running QFX2QBO Convert

On Windows or Mac OS X, double click the QFX2QBO Convert icon on your desktop.

You may also run QFX2QBO Convert from the Windows Start Menu, or run QFX2QBO.exe on Windows or QFX2QBO Convert.app on Mac OS X.

Settings Dialog

Use the Settings button to bring up the Settings Wizard or the full Settings dialog. The Wizard will ask questions that cover the vast majority of conversions. The Settings Dialog also contains a few additional options. You can switch back and forth between the Wizard and the full dialog.

qfx2qbo Convert Settings

First use the Account Type pull-down menu to select the correct type for the .qfx file - Bank or Credit Card in the drop down list. Normally this will be the same as the input .qfx file, but it can changed.
In addition there are three pieces of account information that may be inserted into the .qbo file when it is created. The only one of these that is critical is the QuickBooks FID. This is a four or five digit number that QuickBooks uses to identify the financial institution. QuickBooks will validate the FID over the Internet when reading in the .qbo file, and it must be correct and valid, or QuickBooks will abort the file import.

Select "Lookup..." in the dialog and it will bring up a window with all the QuickBooks Financial Institutions that are listed for that type of account. Type some or all of the name of your financial institution into the search box at the top to search within the list. Scroll down the list to find your bank and select it. The bank URL is also included to help resolve ambiguity if your bank has a name that is similar to other banks.

If your bank is not listed, then QuickBooks will not import QBO files (Web Connect files) that are identified as being from that financial institution. The only workaround is to use an FID from some other bank. You can still name the account to include the name of your financial institution. So long as you as not also doing QuickBooks Direct Connect downloads into the same account, it will work just fine. There are some Financial Institutions that provide Direct Connect, but do not support Web Connect, and if you use one of these, you will have to create two accounts and move transactions from one to the other.

Just remember that the FID is critical, and although QFX2QBO Convert will run without one, it will give a warning, and QuickBooks will give an error when reading the QBO file.

QBO files are required to have account information. All files require an account number and bank accounts also require a bank routing number. Both of these should be present in your QFX file, and assuming that they are, you do not need to enter them. However, if you want to override that information, you can do so in this dialog. The QXF2BO Convert log will display the routing number and account number which are used, and if they are not correct, you can change that here. Note that QFX2QBO Convert does not access the Internet at all, so any information entered is only saved on your computer, and is not sent over other web or to any other computers.


Converting the QFX File

There are two ways to identify the QFX file to convert:

  1. Select the file in your operating system file browser (Windows Explorer, Mac Finder), and then drag it into the converter "Drop Zone"

or

  1. Select the Convert button in QFX2QBO Convert to bring up the file chooser and select the file to convert.

QFX2QBO Convert will run, giving some statistics on how many lines were processed and create a .qbo file with the same name. If a .qbo file with that name already exists you will be prompted to overwrite it.

Most of the data in a QFX file will be converted directly into the QBO file. However, QuickBooks does not support investment accounts, and if your QFX file contains an investment account it will only be partially converted. The investment account will be converted to a bank account, and only bank related transactions (transfer, checks, deposits) will be transferred. Since QuickBooks can not contain stock purchases and similar investment transactions, they will not be transferred.

Importing QBO files into QuickBooks

The easiest way to import the QBO file is simply to double-click it from Windows Explorer or Max OS X Finder. You can also read the QBO file while running QuickBooks. Simply select File, then from the pull-down menu select Utilities, then Import, and then Web Connect File... This will bring up the standard File Open dialog, select the file, and then select Open. The transactions should be read into QuickBooks.

Troubleshooting


Your bank is not present in the list of FID's.

The list of FID's (Financial Institution ID's) actually comes from your QuickBooks install, and is the list of banks that have paid to be included as a QuickBooks supported bank. A bank may be supported for checking accounts or credit cards, or both. Similarly a bank may be supported for Direct or WebConnect downloads, or both. And the list is country specific. If your bank chose not to be included, then it will not be in the FID list and QuickBooks will not import transactions using that bank name. It has nothing to do with QFX2QBO Convert. However, there is a very simple workaround which is to use the FID of some other Financial Institution. You can use pretty much any other FID you want. You should probably choose one that is not a bank you have other accounts at, is a large bank that is unlikely to drop QuickBooks support, and has a name that is similar to or that you can associate with your bank name.


QuickBooks Error: "QuickBooks is currently unable to verify the financial institution for this download. Please try again later."

When you import the QBO file into QuickBooks, if you receive an error "QuickBooks is currently unable to verify the financial institution for this download. Please try again later." then the FID is incorrect. QuickBooks is very picky about this. The financial institution must be currently in good standing with QuickBooks for Web Connect download, and the account must be of the correct type. QuickBooks distinguishes between financial institution support of bank versus credit card transactions.

QFX2QBO Convert will only display those FID's that are listed as being able to import Web Connect files, so if you don't see your bank or brokerage, QuickBooks will not accept Web Connect files from that financial institution. Also, even though a bank may be listed, QuickBooks may still give this error. That problem seems mostly to occur with small banks, perhaps they did not stay current with QuickBooks.

If you are running into a brick wall with QuickBooks FID's, the workaround is to use an FID for some other financial institution other than the one you actually use. However, if you already are downloading from your financial institution, then you would have to have two accounts and copy transactions from one to the other. Therefore, this is practical only if you don't already download directly from that financial institutional, or you import transactions very infrequently.

If QuickBooks is refusing to link a QBO import to an existing account, then make sure that the account type was set correctly - see the section on Setting QuickBooks Account Info. QuickBooks will only allow you to import credit card QBO files to credit cards accounts, and bank account QBO files to bank accounts. If the account number was not specified accurately in the QuickBooks Account Info, then QuickBooks will generally allow you to do a manual match, but it will also change the account number in QuickBooks.

Saving the QFX2QBO Convert Log

After QFX2QBO Convert has run, you may wish to save the log information to a file. Select the Save Log button. This will bring up a File Save dialog. Simply specify a file name and select Save.

To clear the log information select the Clear Log button.


 

One comment on “qfx2qbo Convert | Help”

  • Pingback:
    How To Convert A Qfx File To Qbo | Information

    Pingback:

    How To Convert A Qfx File To Qbo | Information

Products
  • Converters for QuickBooks
  • Converters for Accounting
  • Converters for Spreadsheets
  • Converters for Quicken
  • Trial Version Downloads
  • PDF+ AddOn
Solutions
  • For Lenders
  • For Accounting Professionals, Small Business and Home Users
Support
  • FAQ
  • Support Portal
  • Tutorials & Guides
  • Installation Tips
  • Resend My License
Company
  • Contact Us
  • Jobs
  • Affiliate Benefits Program
  • Blog
  • Legal Policies
Facebook Twitter Linkedin Youtube

© Copyright 2023 MoneyThumb | All Rights Reserved

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsRead Our Privacy PolicyAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
Multi-User Licenses

Do you have more than one person in your office who needs a license?

MoneyThumb converters are licensed to individual users.  Multiple users will need a multi-user license.

Take advantage of our volume pricing for multiple users.  Select your quantity and the discount will automatically be applied at checkout.

# of Licenses Discount
2 20%
(That’s 40% off the second seat!)
5 25%
10 30%
50 35%
100+ Contact Us
License Options

2qfx Convert Pro+ license options:

  • Pro+ – Lifetime license with 1 year of PDF+
    (Currently Windows only)
  • Pro – Lifetime license, without PDF+
  • Express – 50-day Express License, including PDF+
    (Currently Windows only)

See Compare PDF Convert Editions for details