QIF2QBO Converter is a straightforward and effective software solution geared towards users who need to convert QIF files from their bank or credit card company to QBO (QuickBooks) format effortlessly.
Quicken Interchange Format (a long term that stands for QIF) is a standard concept that reads and writes financial data to media. It allows users to import transactions to various files and access them with ease.
QIF2QBO Converter sports an intuitive interface from where you can load the QIF file you want and process it automatically. Once you choose the file you are interested in, the application will read it and display the processed lines and records. However, before starting, you need to set up the QuickBooks account information.
To perform such action, you need to access the proper option from the Settings menu. You are able to select the account type that best suits your needs such as credit card and bank, specify the QuickBooks FID (which is a mandatory field that you need to complete) and optionally, specify the bank routing number and the account number in QuickBooks.
Because QuickBooks will not import transactions with FIDs from other banks or companies that are not its affiliates, you must enter the right FID number, or simply lookup in the embedded list that the application comes with.
After that, QIF2QBO Converter will automatically convert the selected QIF file to QBO format. It is a single step, easy to use converter that helps you to download transactions from banks or credit card companies that do not support QBO formats.
Since a QBO file contains transactions from a single financial institution, the program is able to process only the first account found in the selected QIF file.
In closing, QIF2QBO Converter is a practical and useful application that comes in handy for users who need to convert QIF files to QBP format and read all the financial information with ease.