QBO vs CSV vs OFX: which bank file format to import into QuickBooks or Xero
Bank data usually reaches your books as one of three file types. Which one is best depends on the software, and on whether you start from a bank download or a PDF statement.
| QBO (Web Connect) | CSV | OFX / QFX | |
|---|---|---|---|
| What it is | Intuit's OFX-based format, tagged with a bank ID | A plain spreadsheet of rows | Open Financial Exchange; QFX is Quicken's variant |
| QuickBooks Online | Yes, no column mapping | Yes, you map columns (3- or 4-column layout) | Yes (.qfx/.ofx) |
| QuickBooks Desktop | Yes, via Web Connect: the main file route | No direct bank CSV import | Generally needs a .qbo file instead |
| Xero | Not a listed format; use OFX or CSV | Yes, using Xero's CSV template | Yes (OFX/QFX) |
| Mapping effort | None | Every import, unless saved | None |
| Common errors | Bank ID not recognized; file too large | Date format, sign convention, extra columns | Account mismatch; duplicate transaction IDs |
| Best for | QuickBooks, especially Desktop | Anything, plus review in a spreadsheet | Xero, Quicken |
Quick picks
- QuickBooks Online: QBO if your bank offers it; otherwise CSV. Intuit's upload limit is 350 KB and 1,000 lines per file (splitting large files).
- QuickBooks Desktop: QBO through Web Connect (how-to).
- Xero: OFX if offered, otherwise CSV in Xero's template (how-to).
Starting from PDF statements?
Banks only offer these downloads for a limited window. For older months you convert the PDF (or, in Xero organizations in the US and Canada that are not on the Ledger plan, import the PDF directly: Xero Central, Import a PDF bank statement), and whichever format you pick, tie out each month first: opening balance + transactions = closing balance. See converting a statement PDF to CSV and CSV date format errors.
Turning PDFs into .qbo files? See convert a PDF bank statement to a QBO file.
Format support is based on QuickBooks and Xero help pages as of Oct 2026 and can change; check their current import screens.
Skip the manual work
We turn statement PDFs into QBO, Xero and CSV files plus a tie-out sheet. $15 per statement-month, $149 for a 12-month catch-up. Prefer to check it yourself? Our tie-out checker runs in your browser. See how pros do catch-up.
Bank menus change; labels here were accurate to our knowledge in Oct 2026, so check your bank's help pages if something differs.