How to convert OFX to QFX (Web Connect) and import into Quicken
This tutorial shows how to convert OFX to QFX and import into Quicken. We will use the OFX2QFX utility.
We will use a sample OFX file.
You can review transactions before converting and then you just click the ‘Convert’ button to create a QFX file.
There are other settings, like INTU.BID value, which corresponds to bank label, you can leave it as ‘3000’ (“Wells Fargo Bank”) or change to another Bank, it doesn’t matter.
Click the ‘Convert’ to create a sample.qfx file.
Then switch to Quicken. Click ‘File’ — ‘File Import’ — ‘Web Connect (.QFX) File’ and ‘Open’.
We see here ‘Create a new account’ or ‘Link to an existing account’.
You can import into a Proxy account, called ‘Import’, and then move transactions to another account, which is a good way to import things if you have already an existing account, which is directly downloaded from your Bank. So, you don’t change things, as they are. If you need to import transactions for the previous month, you don’t change anything existing, you just go back, import into a new account, and just move transactions to another account. You can also choose ‘Link to an existing account’. This account must be deactivated from direct download because Quicken will not be listed. Click the ‘Import’ button.
Now we see imported transactions. Click ‘Accept All’.
If you have more accounts, let’s say, that you have a ‘Checking’ account.
And you want transactions there, then you click on the first transaction, click on the last transaction — they are selected. Then right-click — ‘Cut transaction(s)’. In Quicken 2015–2016 there is a manual item, called ‘Move transaction(s)’.
Let’s create a new Account: click ‘Tools’ — ‘Add Account’.
Let’s say it will be ‘Checking’ account.
Maybe setup, as your Bank or setup manually, or it already exists. Click ‘Advanced Setup’.
Then select ‘I want to enter my transactions manually’, enter the name you’d like to use for this account in Quicken, enter ending date and balance from your latest statement and click ‘Finish’.
Switch to the ‘Checking’ account, right-click — ‘Paste transactions’.
Now transactions are under the ‘Checking’ account, pasted from the ‘Import’ account.
Now ‘Import’ account doesn’t have these transactions anymore. ‘Import’ is a good proxy approach because this is like your temporary place. If you are cutting, pasting transactions or whatever is left, you can still review, you can delete, you know, that transactions are imported here. So, whatever you see here — is only here. What you choose to move to your actual account — you move after import.
Originally published at https://www.propersoft.net.