Convert OFX to CSV Free.
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1. 1Open the free OFX / QFX to CSV tool and drop the .ofx. Both the SGML layout of OFX 1.x and the XML layout of OFX 2.x are read; the header block is not required, and the file is not uploaded.
2. 2Check the currency, account id and ledger balance shown above the table. They come from CURDEF, ACCTID and LEDGERBAL in the file; the account type follows whether the file uses the bank or the credit-card message set.
3. 3Look over the rows. Each STMTTRN becomes one line with DTPOSTED as the date, NAME and MEMO joined as the description and TRNAMT as a signed amount, money out negative. Edit a row if a description is cut short or a sign looks wrong.
4. 4Download the CSV: Date, Description, Money out, Money in, Amount, Balance and Category. Excel, Xero CSV, a QuickBooks CSV and a .qbo for QuickBooks Desktop are offered on the same page.

OFX, Open Financial Exchange, is the format behind most download-to-Quicken and download-to-QuickBooks buttons in online banking. OFX 1.x is SGML with optional closing tags and a plain-text header block; OFX 2.x is XML with the same tags. A statement file has a sign-on block, an account block with CURDEF and ACCTID, a BANKTRANLIST of STMTTRN records (DTPOSTED, TRNAMT, FITID, NAME, MEMO) and a LEDGERBAL closing balance. There is no opening balance element.

A CSV is a flat text table: one line per transaction, fields separated by commas, semicolons or tabs, usually with a header row. Which column holds the date, the description, the amount (or money out and money in) and whether a running balance is present varies by bank, and nothing in the file says which date order it uses. Every spreadsheet and most accounting packages read CSV; QuickBooks Desktop does not.