How to use Bank2QBO (version 3)

This tutorial shows how to convert a transaction file to QBO format. We will use Bank2QBO utility. IMPORTANT: Bank2QBO is now replaced with the Transactions app, which converts from more formats and converts to more formats. For the latest version of Bank2QBO tutorial, visit this page.

Step by step instructions for Windows

Follow the steps below for the Windows version, followed by the Mac version.

Make sure you are using the latest version of Bank2QBO. Download it from the Bank2QBO download page. Start Bank2QBO and select the transaction file (it could be QBO file, OFX file, QFX file, QIF file, PDF file, MT940 file or STA).

Review transactions before converting, check that dates are correct, have the correct year, deposits and withdrawals are assigned correctly. 

Set INTU.BID number to match your bank or use a default value. The INTU.BID value defines the bank label shown during a QBO import in Quickbooks. It has to be from the allowed bank. You can try to locate your bank, make sure a bank you choose supports the account type you are converting for. Keep the default value if your bank is not listed (3000-Wells Fargo or any allowed bank). 

Set the Account ID (number) and the Account Type. Account ID must be all digits for Quickbooks. For multiple accounts, use a different account ID for each account. 

Currency should be USD even for non-USD accounts for Quickbooks US edition. For the Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set. If you have non-USD, you have to use another converter, for example, Bank2IIF converter, that does not have currency and you can import for the non-USD account. Bank2IIF converts to IIF format instead of the QBO format. You can also set End balance, Bank ID, Branch ID if your accounting software requires it. 

Click the 'Convert' button to create a QBO file.  

Confirm the file name and location. 

Import created QBO file into Quickbooks 

Now the QBO file is created, let's switch to Quickbooks and import created QBO file. Before importing a QBO file make sure that the account you need to import into doesn’t have the yellow strike icon. Click 'Lists' - 'Charts of Accounts'. 

Because if you have the icon, it means the account is online linked to direct download. You need to disconnect first to import a QBO file.  

To disconnect, right-click - 'Edit Account'. 

Then click on 'Bank Feed Settings' and 'Deactivate All Online Services' first if needed. Check there is no yellow icon after the change. After disconnecting the account from online services, you can import a QBO file.  

To import a QBO file, select 'File' - 'Utilities' - 'Import' - 'Web Connect Files', select created QBO file. 

And select an existing account to import transactions. Check bank label, Account Type, Account number to select the correct Account in Quickbooks. Then click the 'Continue' button. 

Now your data is imported. 

Click on 'Transaction List' to review transactions. Assign Vendor Records and expense/income accounts before adding transactions to the register.  

'Downloaded as' column shows Payee names from the QBO file.  

Click 'Show Bank Memo' to see the description to the 'Bank Memo' column.  

Once Vendor Records and Account are set, you can add transactions to the register.  

Step by step instructions for macOS

Make sure you are using the latest version of Bank2QBO. Download it from the Bank2QBO download page. Start Bank2QBO and select the transactions file (it could be QBO file, OFX file, QFX file, QIF file, PDF file, MT940 file or STA). IMPORTANT: Bank2QBO is now replaced with the Transactions app, which converts from more formats and converts to more formats.

Review transactions before converting, check that dates are correct, have the correct year, deposits and withdrawals are in correct places. 

Make sure to set the Account ID (number) and the Account Type. Account ID must be all digits for Quickbooks. For multiple accounts, use a different account ID for each account. 

Currency should be USD even for non-USD accounts for Quickbooks US edition. For the Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set. If you have non-USD, you have to use another converter, for example, Bank2IIF converter, that does not have currency and  you can import for the non-USD account. Bank2IIF converts to IIF format instead of the QBO format. 

You have to set INTU.BID number to match your bank or use a default value. The INTU.BID value defines the bank label shown during a QBO import in Quickbooks. It has to be from the allowed bank. You can try to locate your bank, make sure a bank you choose supports the account type you are converting for. Keep the default value if your bank is not listed (3000-Wells Fargo or any allowed bank).  

Click the 'Convert' button to create a QBO file.  

Confirm the file name and location. 

Import created QBO file into Quickbooks

Now the QBO file is created, let's switch to Quickbooks and import created QBO file. Before importing a QBO file make sure that the account you need to import into doesn’t have a blue ball icon. Click 'Lists' - 'Charts of Accounts'. If it has a blue ball icon it means the account is online linked to direct download. You need to disconnect first to import a QBO file.  

To disconnect, right-click - 'Edit Account'. 

Then click 'Online Settings' and select 'Not enabled' and click 'Save'. 

Then click 'Ok'.  Check there is no blue ball after the change. 

To import a QBO file, select 'File' - 'Import' - 'From Web Connect', select created QBO file.  

And select an existing account to import transactions. It shows Account ID, Account Type, that you set in Bank2QBO and it offers you to choose an existing Account. Click the 'Continue' button. 

Now your data is imported. 

'Downloaded Payee' column shows Payee names from the QBO file.  

Assign Vendor Records and expense/income accounts before adding transactions to the register.