Thank you for visiting our Partner Zone. This area is an exclusive space for MYOB Partners. Find out how to Partner with MYOB.
Hi MYOB and Community,
My bank upgraded their online banking system which is great, but they no longer offer a .qif format for exporting transactions. Instead of an "export transactions" page which allows the user to select a date range and format, they just have a single button, which automatically downloads a .csv file of all transactions.
My bank has also never supported or offered bank feeds.
This has come at a very stressful time, where I need to balance my books and ascertain client credit before sending out invoices for my next two months of pay.
I haven't found a conversion program that I'm happy with - they either cost money, or are online, and I don't wish to share my banking data with an external company.
Any help is greatly appreciated!
Thanks for your question,
Unfortunately, the importing bank statement function in MYOB Essentials is currently limited to the qif file format. Generally speaking this is one of the most common formats used across most banks, however if for some reason your bank is not able to produce this format you will need to use a converter to change the file into a qif format.
Personally, I am not aware of any free converters that run locally on a computer capable of converting files to qif format. Generally speaking most programs that run locally on a computer are paid programs, so you may need to see if there are any free trials of programs that you like the look of to be able to download and see if it works for you.
You may also want to have a chat to your accountant and IT professional to see if either of them are familiar with any conversion programs that they can recommend for you.
Please do feel free to post any other questions that you may have
Thanks for the reply. I'm sure you can understand I'm very stressed. I have contacted the bank (QT Mutual Bank) to see if they will be supporting automated bank feeds. Do you know if MYOB will be setting up bank feeds with QTMB? They have confirmed that .qif files will no longer be supported. If there are any other solutions please let me know as I am hesitant to spend money on conversion software when I am already paying for accounting software.
If you're an intermediate user of Excel, I could give you the steps I would go through to semi-automate this process using Excel. It would be ok if you were downloading your bank transactions monthly but probably too onerous in you were doing them daily.
It would also be a straight forward project for anyone with some fairly simple programming skills. I would look for a University student (IT) to write you a simple file conversion utility.