UK
What an OFX file is
OFX is a structured transaction file accountants' software reads directly — each entry has a date, signed amount, type, description and a unique transaction id.
It carries a currency (CURDEF), which you choose at export, and imports into QuickBooks, Quicken, Xero and Sage.
Why OFX
It's the most universally importable accounting format — no bank-id gotcha like QBO has.
The unique per-transaction id means importing the same file twice won't create duplicates.
How to import it
After converting (sign in free to export):
- Drop your statement PDF into the converter above and sign in free.
- Pick the currency, then download the OFX file.
- Import it through your accounting tool's bank-import / Web Connect option.
- Reconcile the imported lines as normal.
Checked before you download
Every conversion runs a reconciliation check — it ties the extracted transactions back to the statement's running balance, so credits and debits add up to the closing figure the bank printed. A statement that doesn't reconcile is flagged, not quietly exported — so your OFX file is correct before it reaches your books.
Frequently asked questions
Is OFX better than QBO?expand_more
For importing, usually yes — OFX carries no bank id, so it avoids the QBO OL-301 rejection and imports into more tools.
Which currency does the OFX use?expand_more
You choose it at export (e.g. GBP, USD, EUR). The figures themselves are currency-neutral numbers.
Is it free?expand_more
Converting is free to start; OFX export needs a free sign-in.