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.QIF is the recommended import format which should be available from your bank via export functionality.
It does depend on what MYOB product you are using as to the required file to import.
In terms of AccountRight, as mentioned by @TallBooks, QIF file formats are the recommend format but OFX, QFX and OFC are also supported for the use of the Get Statement feature. Help Article: Reconciling your bank accounts - Section: To reconcile by importing a bank statement would be able to assist with that.
In terms of MYOB Essentials, QIF file formats is the way to go. MYOB Essentials Help Article: Import bank and credit card statements would be able to assist.
Appreciate your advice.
We are using the online version of AccountRight 2016.3
The formats that our bank provided were ; OFX QFI QFX (I am not sure if QIF in an option).
Please wil you advise the best way I can go about testing if this extract works/efficiency. I obviously do not wish to do it on a live database.
Personally I actually haven't heard of a QFI file, normally I would think it is a typo but you have mentioned it twice and it does seem like a valid file format.
What you could do if you would like to test the importing of that data is to use the sample company file. This is a 'dummy' set of files that the program does come with that can be used for testing transactions and the like. You can access this file via selecting "Explore a sample company" from the bottom of the Welcome Window and selecting the relevant version and file to open. Username is generally Administrator and no password.