A legacy text-based format originally developed by Intuit for Quicken. Uses single-character line prefixes to identify field types (D for date, T for amount, P for payee). Largely superseded by OFX/QFX.
Understanding QIF (Quicken Interchange Format)
QIF (Quicken Interchange Format) is a legacy text-based file format originally developed by Intuit for Quicken in the 1990s. It uses single-character line prefixes to identify field types: D for date, T for amount, P for payee, M for memo, L for category, and N for check number.
QIF is one of the simplest financial file formats — each transaction is a block of prefixed lines separated by a caret (^) delimiter. While easy to read and create, QIF lacks features that modern formats provide: no unique transaction IDs (making duplicate detection difficult), no support for split transactions in some implementations, and no standardized date format.
Although QIF has been largely superseded by OFX and QFX, it is still encountered in legacy data exports, older software, and some international banking systems. Converting QIF to modern formats like QBO or IIF is a common data migration task.
Why It Matters for Ecommerce
If you're migrating from older accounting software or have archived financial data in QIF format, you'll need to convert it for use with modern systems. QIF files lack transaction IDs, so importing them into QuickBooks can create duplicates. PrimeConnect's QIF converters add unique IDs and handle date format variations during conversion.
Practical Example
A QIF transaction looks like: D01/15/2026 T-250.00 POffice Supplies Inc MMonthly supplies LOffice Supplies ^ The D line is the date, T is the amount (negative = expense), P is the payee, M is a memo, L is the category, and ^ marks the end of the transaction.
Related Terms
Quicken Interchange Format (QIF)
The full name of the QIF file format, originally created for Quicken. A simple text-based format that predates OFX, still encountered in legacy financial data exports and older software.
File FormatQFX (Quicken Financial Exchange)
Intuit's proprietary variant of OFX used exclusively by Quicken for downloading bank and credit card statements. Structurally identical to OFX but includes Quicken-specific headers.
File FormatOFX (Open Financial Exchange)
An open standard XML-based format for exchanging financial data between institutions, software, and services. Supports bank statements, credit card statements, and investment data.
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