Microsoft Excel's default XML-based spreadsheet format. Commonly used by banks and accountants to export or share financial data with formatting, formulas, and multiple worksheets.
Understanding XLSX (Excel Spreadsheet)
XLSX is Microsoft Excel's default spreadsheet file format, based on the Office Open XML standard. Unlike CSV (which is plain text), XLSX files can contain multiple worksheets, cell formatting, formulas, charts, and data validation — making them the preferred format for complex financial reports and templates.
Under the hood, an XLSX file is a ZIP archive containing XML files that define the workbook structure, cell data, formatting, and relationships. This XML-based architecture replaced the older binary XLS format and allows for larger files, better data fidelity, and wider software compatibility.
Banks, accountants, and financial institutions commonly provide transaction data, statements, and reports in XLSX format because it preserves formatting and allows for calculated fields. However, accounting software generally requires simpler formats (CSV, QBO, IIF) for import, necessitating conversion.
Why It Matters for Ecommerce
Many banks and marketplace platforms offer report downloads in XLSX format. While you can open these in Excel or Google Sheets, you can't import them directly into QuickBooks. PrimeConnect's XLSX converters read the spreadsheet data and transform it into QBO or IIF format, handling date parsing, amount formatting, and column mapping automatically.
Practical Example
Your bank provides a monthly statement as an XLSX file with columns for Date, Description, Reference, Debit, Credit, and Running Balance across 150 rows. PrimeConnect's XLSX-to-QBO converter reads the file, identifies the relevant columns, converts dates to OFX format, calculates signed amounts from the Debit/Credit columns, and generates a valid QBO file.
Related Terms
CSV (Comma-Separated Values)
A plain-text file format that stores tabular data with values separated by commas (or other delimiters). The most universal format for exporting and importing financial data across systems.
File FormatTab-Delimited File
A text file where data fields are separated by tab characters instead of commas. The IIF format and some bank exports use tab-delimited structure for data interchange.
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.
Put This Knowledge Into Practice
Now that you understand xlsx (excel spreadsheet), use PrimeConnect's free accounting tools to convert your ecommerce data into QuickBooks-ready formats — 100% browser-based.
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