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12 Views Financial formats for accounting software posted by ProperSoft | Saturday, July 30, 2022 Category: Accountants There are many accounting software packages available, both desktop and online. Software products like Quickbooks, NetSuite, Xero, Sage, Wave, Quicken come to mind right away. There are many different accounting tools available because of a wide range of accounting and bookkeeping needs companies and businesses have. As for financial formats, there are not so many to transfer data from one place to another (for example, from your bank to your accounting software). This is a good thing. You should not a have an issue every time you get a file with transactions from your bank or your client and the accounting software cannot import it. Financial formats The following formats are the most used/common ones: OFX - also known as "Web Connect" format to get transactions from a financial institution, widely supported by almost all accounting software. The OFX format allows extended variants of itself. Extended OFX variants should be compatible and provide additional details. Quickbooks has its QBO variant and Quicken has it own QFX variant, and PeachTree/Sage has its own ASO variant Details
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