This article explains why Quicken moves from QIF to QFX (OFX). Why does Quicken (Intuit) consider QIF as an outdated format? QIF is the simplest between these three formats, and the most widely supported QIF supports split transactions, categories, tags, address when QFX does not have these features QIF and QFX are plain text formats (can be opened and edited with a text editor), but QXF is an encrypted container What is the difference between QIF, QFX, and QXF formats? Unlike CSV as a generic format, either software or user can read and understand the data in the QIF file Structured - QIF supplies data in the expected form. Other financial formats often missed one or more QIF features Simple – this plain text file format is easy to create and edit either by software tools or manually by a text editorĬomprehensive - Covers most user needs to record transactions including split transactions, bank reconciliation, investment transactions, categories, and tags. IBank/Banktivity (for Mac) – a great alternative to Quicken Simple Home Budget - Simpler and more affordable personal finance tool. YNAB (you need a budget) – full throttle personal finance tool. Quicken also exports files in this format as the only option available to get your data out of Quicken (this does not apply to Quicken Essentials for Mac). The Transactions app, CSV2QIF, PDF2QIF, FixMyQIF, QBO2QIF, Bank2QIF, OFX2QIF, and others are all capable of creating fully importable QIF files for all account types.

Quicken stopped “officially” supporting its invented format in 2005, but it fully supports in the application if QIF files are prepared correctly in the “Quicken” flavor.

Quicken itself (all Windows versions up to the latest 2017 and Quicken for Mac 2007 (including Lion edition). The QIF file format is supported by various financial applications (some of them listed below): Was introduced by Quicken a long time as a way to transfer financial data between other software and Quicken, between bank downloads and Quicken, and is still very useful. QIF stands for Quicken Interchange Format.

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