Preferred import file format

I am working with a trial version of Money 2007, testing some file import 
options. I've discovered, via this newsgroup and other sources, that Money 
has some limitations in how it imports categories and subcategories. I 
believe I saw that Money can import both .qif and .ofx files. Does an .ofx 
file import offer more options for importing category and subcategory data?
0
DavidB1505 (59)
8/29/2006 4:49:03 PM
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In microsoft.public.money, David B wrote:

>I am working with a trial version of Money 2007, testing some file import 
>options. I've discovered, via this newsgroup and other sources, that Money 
>has some limitations in how it imports categories and subcategories. I 
>believe I saw that Money can import both .qif and .ofx files. Does an .ofx 
>file import offer more options for importing category and subcategory data?

Downloading OFX files is better than downloading QIF files.
In an OFX file, each transaction has a unique ID which lets Money
know if it has seen that transaction before. Thus Money can avoid
duplicates while not removing twin transactions. Also Money uses
a universal date method that does not have the mm/dd/yy or dd/mm/yy
ambiguity that QIF can have.
0
via_newsgroup (13113)
8/29/2006 5:40:14 PM
Back to the OPs question: but does OFX know Category/Subcategory? I've never
looked at the spec, but my assumption has been that QIF is essentially
processed data peer-to-peer. I.e., exporting Money transactions to another Q
or M peer. Conversely my perception is that OFX is FI Server->PFM client.
This seems like a transaction type where categories/subcategories are not
really relevant.

My ignorance may be showing.

"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
news:7iu8f2tvs3732rvsd3lheerl1np31nnakn@4ax.com...
> In microsoft.public.money, David B wrote:
>
> >I am working with a trial version of Money 2007, testing some file import
> >options. I've discovered, via this newsgroup and other sources, that
Money
> >has some limitations in how it imports categories and subcategories. I
> >believe I saw that Money can import both .qif and .ofx files. Does an
..ofx
> >file import offer more options for importing category and subcategory
data?
>
> Downloading OFX files is better than downloading QIF files.
> In an OFX file, each transaction has a unique ID which lets Money
> know if it has seen that transaction before. Thus Money can avoid
> duplicates while not removing twin transactions. Also Money uses
> a universal date method that does not have the mm/dd/yy or dd/mm/yy
> ambiguity that QIF can have.


0
8/29/2006 11:01:20 PM
In microsoft.public.money, Dick Watson wrote:

>Back to the OPs question: but does OFX know Category/Subcategory? I've never
>looked at the spec, but my assumption has been that QIF is essentially
>processed data peer-to-peer. I.e., exporting Money transactions to another Q
>or M peer. Conversely my perception is that OFX is FI Server->PFM client.
>This seems like a transaction type where categories/subcategories are not
>really relevant.

OFX does not know Category or Subcategory. Like QIF, it knows Payee
and maybe Memo. Unlike QIF, it also knows stock/fund symbols if
applicable.

So I was approaching it as given the choice, which is better: that
would be OFX. Category gets learned by Money from previous
association with the Payee, as it does in QIF downloads.

I think QIF in this case is also server to client. I suspect that
Money's use for export+import was beyond the original purpose of QIF
as used by Quicken, but I am not sure of that.

0
via_newsgroup (13113)
8/30/2006 12:24:30 AM
Thank you for the replies. It seems to me that I've read that the OFX file 
format is intenteded to become the "standard" for transaction data, and that 
QIF might have limited or reduced support moving forward. I am working with 
our bank to determine if an OFX format is available over QIF, and if so, when 
that might be implimented. I'm also working on some converters to add 
category/subcategory information to the bank data prior to import by Money...

"Cal Learner-- MVP" wrote:

> In microsoft.public.money, Dick Watson wrote:
> 
> >Back to the OPs question: but does OFX know Category/Subcategory? I've never
> >looked at the spec, but my assumption has been that QIF is essentially
> >processed data peer-to-peer. I.e., exporting Money transactions to another Q
> >or M peer. Conversely my perception is that OFX is FI Server->PFM client.
> >This seems like a transaction type where categories/subcategories are not
> >really relevant.
> 
> OFX does not know Category or Subcategory. Like QIF, it knows Payee
> and maybe Memo. Unlike QIF, it also knows stock/fund symbols if
> applicable.
> 
> So I was approaching it as given the choice, which is better: that
> would be OFX. Category gets learned by Money from previous
> association with the Payee, as it does in QIF downloads.
> 
> I think QIF in this case is also server to client. I suspect that
> Money's use for export+import was beyond the original purpose of QIF
> as used by Quicken, but I am not sure of that.
> 
> 
0
DavidB1505 (59)
8/30/2006 1:15:01 PM
In microsoft.public.money, David B wrote:

>Thank you for the replies. It seems to me that I've read that the OFX file 
>format is intenteded to become the "standard" for transaction data, and that 
>QIF might have limited or reduced support moving forward. I am working with 
>our bank to determine if an OFX format is available over QIF, and if so, when 
>that might be implimented. I'm also working on some converters to add 
>category/subcategory information to the bank data prior to import by Money...

Don't get me wrong. QIF is still very good. I had assumed that you
were asking if both were available, which would be better to choose.

For bank and credit card statements, the only real problem for those
in the US using US banks is that two apparently identical
transactions (same date, payee and amount) are treated as one. So in
that case, you would need to add the missing transaction manually.
You might also have to identify which account a given download goes
to also. Plus OFX can download more than one account in the same
file.

So I don't think this would be worth lobbying the bank over. Now if
the bank were to add a direct download OFX server, that would be
really nice. Credit cards usually do that, but only a minority of
banks do that, unfortunately.


>
>"Cal Learner-- MVP" wrote:
>
>> In microsoft.public.money, Dick Watson wrote:
>> 
>> >Back to the OPs question: but does OFX know Category/Subcategory? I've never
>> >looked at the spec, but my assumption has been that QIF is essentially
>> >processed data peer-to-peer. I.e., exporting Money transactions to another Q
>> >or M peer. Conversely my perception is that OFX is FI Server->PFM client.
>> >This seems like a transaction type where categories/subcategories are not
>> >really relevant.
>> 
>> OFX does not know Category or Subcategory. Like QIF, it knows Payee
>> and maybe Memo. Unlike QIF, it also knows stock/fund symbols if
>> applicable.
>> 
>> So I was approaching it as given the choice, which is better: that
>> would be OFX. Category gets learned by Money from previous
>> association with the Payee, as it does in QIF downloads.
>> 
>> I think QIF in this case is also server to client. I suspect that
>> Money's use for export+import was beyond the original purpose of QIF
>> as used by Quicken, but I am not sure of that.
>> 
>> 
0
via_newsgroup (13113)
8/30/2006 1:48:54 PM
Cal:

You did answer my basic question which was as you said: if both qif and ofx 
are available, which is preferred. The bank I'm working with has ofx 
available for download via their "consumer" avenue, but I'm trying to 
impliment some processes for a commercial situation, and the bank has not 
made ofx available through that system. So, we're trying to determine which 
avenue is best for accessing the info from the bank, then impliment our 
solution based on the best data source.

qif is working, so far, for our test run...just trying to look at all 
angles...

"Cal Learner-- MVP" wrote:

> 
> Don't get me wrong. QIF is still very good. I had assumed that you
> were asking if both were available, which would be better to choose.
> 
> For bank and credit card statements, the only real problem for those
> in the US using US banks is that two apparently identical
> transactions (same date, payee and amount) are treated as one. So in
> that case, you would need to add the missing transaction manually.
> You might also have to identify which account a given download goes
> to also. Plus OFX can download more than one account in the same
> file.
> 
> So I don't think this would be worth lobbying the bank over. Now if
> the bank were to add a direct download OFX server, that would be
> really nice. Credit cards usually do that, but only a minority of
> banks do that, unfortunately.
> 
> 
> >
> >"Cal Learner-- MVP" wrote:
> >
> >> In microsoft.public.money, Dick Watson wrote:
> >> 
> >> >Back to the OPs question: but does OFX know Category/Subcategory? I've never
> >> >looked at the spec, but my assumption has been that QIF is essentially
> >> >processed data peer-to-peer. I.e., exporting Money transactions to another Q
> >> >or M peer. Conversely my perception is that OFX is FI Server->PFM client.
> >> >This seems like a transaction type where categories/subcategories are not
> >> >really relevant.
> >> 
> >> OFX does not know Category or Subcategory. Like QIF, it knows Payee
> >> and maybe Memo. Unlike QIF, it also knows stock/fund symbols if
> >> applicable.
> >> 
> >> So I was approaching it as given the choice, which is better: that
> >> would be OFX. Category gets learned by Money from previous
> >> association with the Payee, as it does in QIF downloads.
> >> 
> >> I think QIF in this case is also server to client. I suspect that
> >> Money's use for export+import was beyond the original purpose of QIF
> >> as used by Quicken, but I am not sure of that.
> >> 
> >> 
> 
0
DavidB1505 (59)
8/30/2006 2:02:01 PM
Reply:

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