A safe workflow for importing converted OFX transactions

Use OFX as an interchange file, not an archive

OFX carries structured transaction data between systems. It does not preserve the visual statement, bank branding or all account disclosures. Keep the original bank statement as evidence and use OFX as a controlled import copy.

Whenever possible, download OFX directly from the bank. Convert a PDF or spreadsheet only when the original OFX is unavailable and review the rows before import.

Normalise the source rows

Each row should represent one transaction with a date, description and signed amount. Remove balances, headings, blank separators and totals. Use a consistent date interpretation, especially where day and month can be confused.

Descriptions should be useful but stable. Changing them after each import can weaken matching rules in accounting software. Do not place confidential account credentials or unrelated personal data in memo fields.

Review checklist

• One transaction per row
• No opening or closing balance rows
• Consistent dates and signed amounts
• Stable, meaningful descriptions

Control duplicate risk

Accounting products use different combinations of dates, amounts and transaction identifiers to detect duplicates. Re-importing an overlapping period can therefore create duplicate entries even when the OFX file itself is valid.

Start with a small, clearly bounded date range and import it into a test or recoverable workspace. Record the last imported transaction, then use non-overlapping periods for later files unless your accounting product documents a reliable duplicate policy.

Reconcile immediately after import

Compare the imported opening and closing position with the statement, then total debits and credits separately. Investigate differences before adding categories or matching invoices; categorisation can make the underlying import error harder to see.

Look for timezone shifts around month-end, incorrectly signed refunds, missing multi-line descriptions and fees that the statement displays in summary sections.

Review checklist

• Compare the imported date range
• Total debits and credits separately
• Check month-end dates
• Resolve differences before categorising

Know the boundary of the converter

The File Workshop creates an OFX file from rows you approve; it does not connect to your bank or post directly into your accounting system. Compatibility and duplicate behaviour remain controlled by the receiving product, so retain a backup and follow that product's import guidance.