QIF or OFX Import Q2005 (Sorry For Beating Dead Horse)

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shru...@charter.net

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Jan 31, 2005, 8:24:32 PM1/31/05
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Hi all,

I've read some posts on this issue and tried to get tech support from
Intuit. You should have seen the online assistant refusing to even
discuss the fact that there is a QIF import menu item. Unbelievable!

Anyway, my credit union which holds my credit card is listed on the
Intuit site as being a compatible FI. It does not show up, however, in
the drop down list when setting up the download info for the account.

As a work around, I've gone to the credit union web site and there at
the bottom of the screen is the option to download both Qif and OFX
files of the data.

Do I understand that there is no way to manually import these files
into Quicken without some sort of file modification?

Thanks in advance!

Mike B

unread,
Jan 31, 2005, 9:22:41 PM1/31/05
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shru...@charter.net <shru...@charter.net> wrote:
> Hi all,
>
> I've read some posts on this issue and tried to get tech support from
> Intuit. You should have seen the online assistant refusing to even
> discuss the fact that there is a QIF import menu item. Unbelievable!

Credit card accounts should still be able to import QIF in Q2005. Are you
saying yours won't?

>
> Anyway, my credit union which holds my credit card is listed on the
> Intuit site as being a compatible FI. It does not show up, however, in
> the drop down list when setting up the download info for the account.
>

That means they don't support web connect (QFX files) or direct connect.

> As a work around, I've gone to the credit union web site and there at
> the bottom of the screen is the option to download both Qif and OFX
> files of the data.

The OFX file is for MS Money. The QIF is the old Quicken method that Intuit
will sunset for credit cards in Quicken 2006. Unless your FI forks over some
moola to Intuit, it seems as if they won't be supporting the Quicken
equivalent of the MS Money file (QFX for Quicken, OFX for Money).

>
> Do I understand that there is no way to manually import these files
> into Quicken without some sort of file modification?
>
> Thanks in advance!

HTH

--
Mike B


John Pollard

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Jan 31, 2005, 9:34:26 PM1/31/05
to

Quicken will not import "OFX" files, it will import (download)
"QFX" files. If your fi offers "web-connect" ("QFX") downloads,
you can use that form of download.

As a Q2005 user, you will be able to download QIF files for your
credit-card account; beginning with Q2006 (should you upgrade),
you will not.

But there may be a workaround for the QIF file import problem.
Intuit has not said they will eliminate QIF file imports to
Cash, Asset, or Liability accounts (and a few more). You can
probably setup a dummy cash account, download your credit-card
QIF file and import to the dummy cash account, select the
transactions in the dummy cash account, copy (or cut) them, then
paste them into your credit card account.

--
John Pollard
First initial underscore Last name at mchsi dot com
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Operabadge

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Feb 2, 2005, 7:39:42 PM2/2/05
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shru...@charter.net said the following on 1/31/2005 8:24 PM:

> I've read some posts on this issue and tried to get tech support from
> Intuit. You should have seen the online assistant refusing to even
> discuss the fact that there is a QIF import menu item. Unbelievable!

Not after what I've read online. Rather, this is to be expected.

> Anyway, my credit union which holds my credit card is listed on the
> Intuit site as being a compatible FI. It does not show up, however, in
> the drop down list when setting up the download info for the account.

Strange. Does it specifically indicate your FI supports Web Connect?

> As a work around, I've gone to the credit union web site and there at
> the bottom of the screen is the option to download both Qif and OFX
> files of the data.
>
> Do I understand that there is no way to manually import these files
> into Quicken without some sort of file modification?

The short answer is, yes.

A longer answer is, yes, because Intuit has instituted the following
extortion racket: They have created "technically" OFX-standard-compliant
tags to the basic OFX file format in order to create the QFX file
format. This consists of adding the following tags:

<FI>
<ORG>
<FID>
</FI>
<INTU.BID>

Which must, it appears, fall immediately after the "<LANGUAGE>ENG" tag
(assuming you're using English).

When reading the QFX file, the Quicken software checks to see if the
information in the ORG,FID and INTU.BID tags correspond with FI info
that is stored on the Intuit servers. If not, Quicken will refuse to
read the file.

This REFUSAL appears to serve one purpose only: to enable Intuit to
extort money from FIs. They have to PAY Intuit to create these three
bits of information for them and store it on the Intuit servers.
Essentially, they are "licensing" the right to provide an arbitrary bit
of data that will make it easy (not "possible" -- the end-user can fake
this stuff manually, so it's possible under any circumstance). This is a
no-value-added situation for the FI and the consumer. If Quicken didn't
REQUIRE these tags to be present, but simply read and used them whenever
they happened to be present, whatever benefits might be presented by
having the FI's registration information on Intuit's servers would be
reaped by the consumer and the FI, and were a valid OFX-formatted file
PERMITTED by Quicken to be imported (not "possible," see above), people
who don't care about/don't need/don't desire those benefits (whatever
they might be, which is however clearly not compelling enough to
convince many FI's to pay the fee) could still continue to import their
FI's data into Quicken.

If you want to know how to dummy this data in, it's easy: obtain a
properly-formatted QFX file and copy the lines that include the
above-mentioned tags into your OFX file. Change the file extension from
OFX to QFX. Run or import the file. Quicken will ask you which account
you want to import to, since you won't have an account from that FI that
matches the account number that is in the file. Specify the correct
account, and you have what you wanted.

Good Luck,
Operabadge

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