Convert OFX to Excel 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 Excel. The workbook has a Transactions sheet with Date, Description, Money out, Money in, Amount, Balance and Category, and a Summary sheet whose totals by category are live formulas. CSV, Xero CSV and a .qbo are offered beside it.

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.

An .xlsx workbook holds typed cells, so amounts can be numbers rather than text and dates can be dates, which is what makes SUM, pivot tables and lookups work. The workbook written here has a Transactions sheet with Date, Description, Money out, Money in, Amount, Balance and Category, and a Summary sheet whose totals by category are live formulas, so relabelling a category updates the totals.