How to Convert QBO to CSV: A Complete Guide with Tips and Tricks

If you've downloaded transaction data from your bank and ended up with a QBO or OFX file, you're not alone. These files are the standard format for financial data exchange, but they're not exactly spreadsheet-friendly. In this guide, we'll show you how to convert QBO files to CSV format and share some tips to help you get the most out of your data.

Quick Summary

QBO (QuickBooks Online) and OFX (Open Financial Exchange) files contain your bank transactions in a structured format. CapyParse's free QBO to CSV converter lets you transform these files into clean CSV or Excel spreadsheets in seconds.

What Is a QBO File?

QBO files are essentially OFX (Open Financial Exchange) files with a different extension. They're the standard format that banks use to export transaction data for import into accounting software like QuickBooks. Inside, they contain:

Account information: Bank ID, account number, and account type (checking, savings, credit card)
Transaction details: Date, amount, type, payee name, memo, and check number
Balance information: Ledger balance and available balance with as-of dates
Unique transaction IDs (FITID): Used to prevent duplicate imports

Understanding QBO File Structure

If you open a QBO file in a text editor, you'll see something like this:

OFXHEADER:100
DATA:OFXSGML
VERSION:102
SECURITY:NONE
ENCODING:USASCII

<OFX>
  <BANKMSGSRSV1>
    <STMTTRNRS>
      <STMTRS>
        <CURDEF>USD</CURDEF>
        <BANKACCTFROM>
          <BANKID>123456789</BANKID>
          <ACCTID>9876543210</ACCTID>
          <ACCTTYPE>CHECKING</ACCTTYPE>
        </BANKACCTFROM>
        <BANKTRANLIST>
          <STMTTRN>
            <TRNTYPE>DEBIT</TRNTYPE>
            <DTPOSTED>20250430120000[0:GMT]</DTPOSTED>
            <TRNAMT>-45.99</TRNAMT>
            <FITID>2025043001</FITID>
            <NAME>AMAZON MARKETPLACE</NAME>
            <MEMO>Online Purchase</MEMO>
          </STMTTRN>
        </BANKTRANLIST>
      </STMTRS>
    </STMTTRNRS>
  </BANKMSGSRSV1>
</OFX>

The file uses either SGML (older format) or XML syntax. The key elements are:

Tag	Description
TRNTYPE	Transaction type (DEBIT, CREDIT, CHECK, etc.)
DTPOSTED	Transaction date in YYYYMMDD format
TRNAMT	Transaction amount (negative = outflow)
FITID	Unique transaction ID from the bank
NAME	Payee or merchant name
MEMO	Additional transaction details
CHECKNUM	Check number (if applicable)

Converting QBO to CSV with CapyParse

Our free QBO to CSV converter makes the process simple:

Upload your QBO or OFX file

Drag and drop or click to browse. Files up to 10MB supported.

Preview your transactions

See a preview of extracted transactions organized by account.

Download CSV or Excel

Get individual files per account or download all as a ZIP.

What You Get in the CSV Output

Your exported CSV will include these columns:

Column	Description	Example
Date	Transaction date	2025-04-30
Type	Transaction type	DEBIT
Amount	Transaction amount	-45.99
Name	Payee/merchant name	AMAZON MARKETPLACE
Memo	Additional details	Online Purchase
Transaction ID	Unique FITID	2025043001
Check Number	Check # if applicable	1234

Date Format Options

CapyParse supports multiple date formats to match your needs:

ISO 2025-04-15 - International standard, great for sorting
US 04/15/2025 - Month/Day/Year format
EU 15/04/2025 - Day/Month/Year format

Tips and Tricks

1. Understanding Transaction Signs

In QBO files, negative amounts represent money leaving your account (debits, purchases, payments), while positive amounts represent money coming in (deposits, credits, refunds). This is consistent with bank statement conventions.

2. Credit Card Sign Reversal

Credit card QBO files follow the same sign convention from the bank's perspective. A purchase (debt you owe) shows as negative, while a payment (reducing your debt) shows as positive. This can seem counterintuitive but is standard OFX behavior.

3. Handling Multiple Accounts

Some QBO files contain transactions from multiple accounts. CapyParse automatically separates them, creating distinct CSV files for each account. You can download them individually or grab everything as a ZIP file.

4. Special Characters in Descriptions

Merchant names and memos often contain commas, quotes, or other special characters. CapyParse properly escapes these in the CSV output, so you won't have issues importing into Excel or Google Sheets.

5. Timezone Handling

QBO dates often include timezone information like [0:GMT]. CapyParse extracts just the date portion, giving you clean dates without timezone complexity.

6. Preserving Transaction IDs (FITID)

The FITID (Financial Institution Transaction ID) is crucial for preventing duplicate imports in QuickBooks. CapyParse includes this in your CSV as the "Transaction ID" column. Keep it if you plan to import into accounting software.

Common Pitfalls to Avoid

Watch Out For:

File size limits: Our converter supports files up to 10MB. For larger files, consider splitting your date range.
Malformed transactions: Some banks produce inconsistent QBO files. If specific transactions are missing, check the original file for formatting issues.
Character encoding: Most QBO files use ASCII or UTF-8. If you see garbled characters, your bank may be using a non-standard encoding.

Advanced Features

Excel Export with Multiple Sheets

When your QBO file contains multiple accounts, you can download an Excel file with each account on a separate sheet. This is perfect for keeping related data together while maintaining organization.

Batch Download as ZIP

Need both CSV and Excel formats for all accounts? The "Download All as ZIP" option gives you everything in one click - individual CSV and Excel files for each account, bundled together.

QuickBooks Import

The CSV format is compatible with QuickBooks' transaction import feature. After converting, navigate to Banking → Upload transactions from file in QuickBooks, select your CSV, and map the columns to match.

Transaction Type Reference

Here's what each transaction type in your QBO file means:

Type	Description
DEBIT	General debit/withdrawal from account
CREDIT	General credit/deposit to account
CHECK	Check payment (includes check number)
ATM	ATM withdrawal or deposit
POS	Point-of-sale purchase (debit card)
XFER	Transfer between accounts
PAYMENT	Bill payment or electronic payment
INT	Interest earned or charged
FEE	Bank fee or service charge
OTHER	Miscellaneous transaction

Ready to Convert Your QBO Files?

Stop wrestling with complicated file formats. Our free QBO to CSV converter handles the technical details so you can focus on analyzing your financial data.

Try the Free QBO to CSV Converter

No signup required. Upload your file and download your CSV instantly.

Convert QBO to CSV Free

Works with both QBO and OFX files up to 10MB.

Have a PDF bank statement instead? Check out our PDF to CSV converter for extracting transactions from PDF bank statements.