Sunday, September 11, 2005

Tricks for importing bank files

Not having my bank fulling integrated into SBA is not a huge problem right now because with SP1, they've added the ability import bank files after downloading them from the bank's website. The trick here is to select the right file format. Some of my banks list the file types by product (ie. Quicken or Money), but some of them list them by download format (ie. QIF, CSV, OFX). For SBA, it's clear that they only support the OFX download format. On at least one of my bank sites, selecting the Money download option was the correct selection (i noticed that the filename was named "transactions.ofx"). On another one, it explicitly called out the OFX download format. BTW, QIF being a Quicken/QuickBooks format that is supposedly being deprecated, I fully understand why Microsoft isn't bending over backwards to support it.

Bottom line: ensure that your bank has some way to download .OFX files and you should be covered (at least until they add it to the product for automated download).


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