Here are the steps you need to take to import QIF files into Quicken 2008:

  1. Open Quicken and create an account for the data that you want to import. You don’t have to create another account if you already have one made.
  2. Now go to File -> Export -> QIF File, and select the account that you want to deal with from the Quicken Account to Export from. This should be the account that you created/used in Step 1. It’s crucial that you check the Account List box.
    Quicken QIF Export
  3. Now open the QIF file from Step 2 in a text editor, such as Notepad. Copy all of the text up to the line that specifies the date for the first transaction (highlighted in yellow below). The data we want should look something like this:

!Option:AutoSwitch
!Account
NCyberNet Credit Card
TCCard
L0.00
^
!Clear:AutoSwitch
!Account
NCyberNet Credit Card
TCCard
^
!Type:CCard

Now open the QIF file that you want to import. Paste the text that you just copied, and replace all of the data up to the date on the first transaction. The entire process should look something like this:

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Quicken QIF File Merge

Wondering why you just did that? The data that you just copied is used by Quicken to identify which account the transactions belong to. The original file was missing that critical information, and without it Quicken will have no idea where to put the transactions. In older versions of Quicken it would let you select which account to apply the transactions to, but that doesn’t work anymore. Needless to say it’s an important part of the process if you want to import a QIF file into Quicken.

  1. In Quicken go to File -> Import -> QIF File. Browse for the file location on your computer, select All Accounts as the account to import into, and make sure the Account List box is checked. Then hit the Next button!

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Quicken QIF Import

  1. Now all that you have to do is accept the transactions that you just imported from the QIF:

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Quicken QIF Accept Transactions

It may seem like a long process, but once you understand how it works you can probably import a QIF file into Quicken in under 30 seconds. Just save the account information that you copied in Step 3 if you regularly download QIF files from your bank. By saving that information you will never have to go through the export process in Step 2.

Whether you’re trying to import Microsoft Money data or import an Excel spreadsheet this trick should be just what you’re looking for!