What is a QIF File?

QIF (Quicken Interchange Format) is one of the oldest personal finance file formats, created by Intuit in the early 1990s for Quicken. It uses simple single-character field codes to represent bank transactions in plain text.

History

QIF was introduced by Intuit in 1991 as the data exchange format for Quicken, their personal finance management software. At the time, there was no standard way to transfer financial data between applications, and QIF filled that gap with a simple, human-readable text format.

For nearly a decade, QIF was the de facto standard for personal finance data exchange. Banks offered QIF downloads alongside CSV, and virtually every personal finance application supported the format. Its simplicity — plain text with single-character field codes — made it easy to generate and parse.

In 1997, Intuit co-developed the OFX (Open Financial Exchange) standard with Microsoft and CheckFree, which eventually superseded QIF. Intuit officially deprecated QIF in Quicken 2005, removing the ability to import QIF files for investment accounts. However, QIF remains widely used for non-investment transactions, and many legacy systems still export in this format.

QIF Field Codes

Each line in a QIF record starts with a single-character code that identifies the field type. The remaining text on the line is the field value. Here are the standard field codes:

D

Date

Transaction date in M/DD/YYYY or MM/DD/YY format. Example: D1/15/2026 or D01/15/26

T

Amount

Transaction amount. Positive values are deposits, negative values are withdrawals. Example: T-45.99

P

Payee

Name of the payee or payer. Example: POffice Supply Store

M

Memo

Free-text memo or description. Example: MMonthly office supplies purchase

N

Check Number

Check number or reference identifier. Example: N1042

L

Cleared Status

Transaction cleared status. * = cleared, X or R = reconciled, blank = uncleared. Example: C*

A

Address

Address lines for the payee (up to 5 lines). Each A line adds one address line. Example: A123 Main St

^

End of Record

Marks the end of a single transaction record. Every transaction must terminate with this marker.

QIF Record Structure

A QIF file starts with a type header that identifies the account type, followed by individual transaction records. Each record is a series of field code lines terminated by a caret (^). Here is a complete example:

!Type:Bank
D01/15/2026
T-45.99
POffice Supply Store
MMonthly supplies order
N1042
LOffice Expenses
C*
^
D01/20/2026
T1500.00
PABC Corp - Wire Transfer
MInvoice #2024-088 payment
LIncome:Consulting
^
D01/22/2026
T-89.50
PCity Electric Company
MJanuary billing cycle
LUtilities:Electric
CR
^

Key points: The !Type:Bank header tells the software this file contains bank account transactions. Each transaction lists its fields in any order and ends with ^. Categories can use colon-separated subcategories like Utilities:Electric.

QIF Account Types

The !Type: header at the beginning of a QIF file tells the importing software what kind of account the data belongs to. Each type supports slightly different field codes:

!Type:Bank

Bank and checking account transactions — the most common QIF type.

!Type:CCard

Credit card transactions with charges and payments.

!Type:Cash

Cash account transactions for tracking petty cash.

!Type:Oth A

Other asset accounts (e.g., property, equipment, receivables).

!Type:Oth L

Other liability accounts (e.g., loans, mortgages, payables).

!Type:Invst

Investment accounts with buy/sell/dividend actions. Deprecated in Quicken 2005+.

!Type:Cat

Category list — defines transaction categories rather than transactions.

!Type:Class

Class list — defines classes for categorization and reporting.

!Type:Memorized

Memorized (recurring) transaction templates.

Important: Quicken 2005 and later versions removed QIF import support for investment accounts (!Type:Invst). Use OFX/QFX format for investment data in modern Quicken versions.

QIF vs QBO vs CSV

Understanding how QIF compares to modern alternatives helps you choose the right format for your workflow:

Feature	QIF	QBO	CSV
Format Type	Plain text, field codes	XML (OFX-based)	Comma-separated values
Created By	Intuit (1991)	Intuit / Microsoft / CheckFree (1997)	Generic standard
Duplicate Detection	No (no unique IDs)	Yes (FITID)	No
Categories	Yes (L field)	No	Varies by bank
Bank Metadata	No	Yes (FI, account info)	No
QuickBooks® Support	Desktop only (limited)	Desktop & Online	Online only (manual mapping)
Human Readable	Yes (very simple)	Somewhat (XML)	Yes (spreadsheet-friendly)

How to Convert QIF Files

If you have QIF files from an older system or bank export, PrimeConnect can convert them to QBO format for seamless import into QuickBooks®:

Locate your QIF file

Find the .qif file exported from your bank, Quicken, or legacy accounting software.

Upload to PrimeConnect

Open the QIF to QBO converter and drag-and-drop your file. 100% browser-based.

Map fields & review

The converter automatically parses QIF field codes. Review the extracted transactions for accuracy.

Download QBO

Download the converted .qbo file and import it into QuickBooks® Desktop or Online.

Ready to Convert Your QIF Files?

Use our free tools to convert QIF files to QBO format or preview them instantly.

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