QFX (file format)

Last updated
QFX
Filename extension
.qfx
Developed by Intuit
Container for Financial information
Extended from Open Financial Exchange

QFX is Intuit's proprietary version of the standard OFX financial interchange file format. QFX is used in Intuit's "Web Connect" and "Direct Connect" features to transmit and receive financial information over the internet. [1] [2] [3]

Contents

A QFX file is a standard OFX file with additional fields to support a licensing fee paid by institutions to Intuit. In contrast, the standard OFX format is a free and open standard. [4] Intuit's Quicken software will only import QFX files where the providing institution has paid the fee and in some cases passed quality tests, otherwise giving the error message "Quicken is currently unable to verify the financial institution information for this download". [5] [6] [7] The same error message is given for Quicken users attempting to import previously downloaded QFX files with a Quicken subscription that has expired. Quicken 2017 was the last version sold with a 3 year expiration.

See also

Related Research Articles

<span class="mw-page-title-main">GnuCash</span> Personal and small-business financial-accounting software

GnuCash is an accounting program that implements a double-entry bookkeeping system. It was initially aimed at developing capabilities similar to Intuit, Inc.'s Quicken application, but also has features for small business accounting. Recent development has been focused on adapting to modern desktop support-library requirements.

Advanced Audio Coding (AAC) is an audio coding standard for lossy digital audio compression. It was designed to be the successor of the MP3 format and generally achieves higher sound quality than MP3 at the same bit rate.

Quicken Interchange Format (QIF) is an open specification for reading and writing financial data to media.

Open Financial Exchange (OFX) is a data-stream format for exchanging financial information that evolved from Microsoft's Open Financial Connectivity (OFC) and Intuit's Open Exchange file formats.

<span class="mw-page-title-main">Intuit</span> American financial software company

Intuit Inc. is an American multinational business software company that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi. Intuit's products include the tax preparation application TurboTax, the small business accounting program QuickBooks, the credit monitoring and personal accounting service Credit Karma, and email marketing platform Mailchimp. As of 2019, more than 95% of its revenues and earnings come from its activities within the United States.

In computing, a Personal Storage Table (.pst) is an open proprietary file format used to store copies of messages, calendar events, and other items within Microsoft software such as Microsoft Exchange Client, Windows Messaging, and Microsoft Outlook. The open format is controlled by Microsoft who provide free specifications and free irrevocable technology licensing.

<span class="mw-page-title-main">Microsoft Money</span> Personal finance management software program

Microsoft Money is a discontinued personal finance management software program by Microsoft. It has capabilities for viewing bank account balances, creating budgets, and tracking expenses, among other features. Designed for computers using the Microsoft Windows operating system, versions for Windows Mobile were also released. From its inception in 1991 until 2009, Microsoft Money was commercial software; in 2010, Microsoft Money Plus Sunset was released as a free replacement, which allows users to open and edit Money data files but lacks any online features or support.

<span class="mw-page-title-main">TurboTax</span> US tax preparation software

TurboTax is a software package for preparation of American and Canadian income tax returns, produced by Intuit. TurboTax is a market leader in its product segment, competing with H&R Block Tax Software and TaxAct. TurboTax was developed by Michael A. Chipman of Chipsoft in 1984 and was sold to Intuit in 1993.

Quicken is a personal finance management application originally developed and offered by Intuit, Inc. Intuit sold Quicken to H.I.G. Capital in 2016, and H.I.G. sold Quicken to Aquiline Capital Partners in 2021.

Office Open XML is a zipped, XML-based file format developed by Microsoft for representing spreadsheets, charts, presentations and word processing documents. Ecma International standardized the initial version as ECMA-376. ISO and IEC standardized later versions as ISO/IEC 29500.

Rocket Mortgage, LLC, formerly Quicken Loans, LLC, is an American mortgage lender, headquartered in Detroit, Michigan. Rocket Mortgage’s parent company is Rocket Companies. In January 2018, Rocket Mortgage became the largest overall retail lender in the U.S., and it was also the largest online retail mortgage lender. Rocket Mortgage relies on wholesale funding to make its loans and uses online applications rather than a branch system. Amrock is also part of the Rocket Mortgage Family of Companies. The company closed more than $400 billion of mortgage volume across all 50 states from 2013 through 2017.

Tax preparation is the process of preparing tax returns, often income tax returns, often for a person other than the taxpayer, and generally for compensation. Tax preparation may be done by the taxpayer with or without the help of tax preparation software and online services. Tax preparation may also be done by a licensed professional such as an attorney, certified public accountant or enrolled agent, or by an unlicensed tax preparation business. Because United States income tax laws are considered to be complicated, many taxpayers seek outside assistance with taxes.

Financial Navigator, Inc was a United States-based software company that develops accounting software targeting single family offices (SFO), multi-family offices (MFO), accounting firms, and high-net-worth individuals. The company was founded in 1983 and is headquartered in Mountain View, CA.

<span class="mw-page-title-main">KMyMoney</span> Accounting software

KMyMoney is a cross-platform double-entry bookkeeping system for personal finance management built on KDE technologies. Its operation is similar to Microsoft Money and Quicken. It supports different account types, categorization of expenses and incomes, reconciliation of bank accounts and import/export to the “QIF” file format. Through plugins, direct download using the OFX and HBCI formats is also possible. CSV imports and exports are also possible via plugins.

Mint, also known as Intuit Mint and formerly known as Mint.com, was a personal financial management website and mobile app for the US and Canada produced by Intuit, Inc..

The Microsoft Open Specification Promise is a promise by Microsoft, published in September 2006, to not assert its patents, in certain conditions, against implementations of a certain list of specifications.

Moneyspire is personal finance software and small business accounting software developed by Moneyspire Inc. The software is available in two versions, one for Windows and another for macOS. The software tracks accounts, loans, bills, investments and budgets. Professional looking invoices can also be created and tracked in the Pro edition of Moneyspire. It imports data from QIF, OFX, QFX and CSV files. Moneyspire has the ability to use its financial data files interchangeably between the Mac and Windows versions of the software, thus making the software a viable choice for people who use both PCs and Macs. Moneyspire can also manage accounts from multiple currencies, and automatically track exchange rates and transfers between foreign accounts. Moneyspire also allows downloading of transactions directly from financial institutions via the Moneyspire Connect service.

Personal financial management refers to "ways" or "methods" of managing ones own personal finances. It is also known by its acronym, PFM, which refers to the type of software used for personal finance apps. Simply put, PFM refers to software that helps users manage their money. PFM often lets users categorize transactions and add accounts from multiple institutions into a single view. PFM also typically includes data visualizations such as spending trends, budgets and net worth.

References

  1. QFX file extension at File-Extensions.org library
  2. about.com
  3. "Intuit's Direct Connect Developer Site".
  4. "OFX Work Group - FAQ's" . Retrieved 2023-11-28.
  5. "Customers bemoan changes in Quicken 2005" . Retrieved 2009-02-09.
  6. "Quicken Disabled QIF In Favor of QFX" . Retrieved 2009-02-09.
  7. "Intuit Help For QFX Import Failure". Archived from the original on August 24, 2011.