OFX and QBO files from a bank statement PDF: what they are and how to import them
When to use OFX or QBO instead of CSV, which accounting tools accept each, and how to convert a Singapore or Malaysia statement PDF into one.
CSV is fine when you'll clean up in a spreadsheet. When the destination is accounting software, a bank-feed file is better: it carries dates, amounts, descriptions, a unique ID per transaction (so re-importing doesn't duplicate) and the closing balance, and the software treats it like a feed rather than a spreadsheet upload.
OFX
Open Financial Exchange. Accepted by Xero (Import a statement → OFX), QuickBooks Desktop, Sage, Wave, MYOB, Moneydance and most personal finance tools.
QBO
QuickBooks' own flavour of OFX with an Intuit header. Use it for QuickBooks Online and QuickBooks Desktop "Web Connect" imports. If QuickBooks rejects a plain OFX, QBO is what it wants.
Converting a PDF statement into either
- On RowCheck, pick OFX or QBO in the format menu.
- Drop the PDF (bank account or credit card; the file is built as a bank account or a credit card account accordingly).
- Review the panel, then download. The file name ends in .ofx or .qbo.
Importing
- Xero: Accounting → Bank accounts → the account → Manage account → Import a statement → choose the .ofx file.
- QuickBooks Online: Transactions → Bank transactions → Link account ▾ → Upload from file → choose the .qbo file.
- QuickBooks Desktop: File → Utilities → Import → Web Connect Files → the .qbo file.
- Wave / Sage / MYOB: each has an "import bank statement" option that accepts OFX.
If the import complains about the account
Bank-feed files carry an account number. If the software asks which account to match, pick the one you're reconciling; it only asks the first time.