Skip to main content

How to Convert Excel to IIF for Importing Journal Entries into QuickBooks

· 3 min read
Debits

Introduction​

Importing financial data into QuickBooks often requires converting files into the Intuit Interchange Format (IIF), especially when dealing with journal entries. This guide will explain how to convert Excel spreadsheets into IIF files, allowing for smooth and efficient data import into QuickBooks.

Understanding IIF Files​

IIF files are specially formatted text files used by QuickBooks to import and export data. These files enable the transfer of journal entries, chart of accounts, transactions, and other financial data between different platforms.

Preparing Your Excel File for Conversion​

Before converting your Excel file into an IIF format, proper preparation is crucial to ensure the data imports correctly into QuickBooks.

Steps for Excel Preparation​

  1. Organize Your Data: Structure your Excel spreadsheet with clear headers that correspond to QuickBooks fields such as Date, Account, Memo, Debit, and Credit.
  2. Review Data Accuracy: Double-check all entries for accuracy to avoid errors post-conversion.

Converting Excel to IIF​

The conversion from Excel to IIF involves several steps, typically using third-party software or QuickBooks utilities.

Using a Third-Party Converter​

  1. Select a Converter: Choose a reliable third-party tool that can convert Excel files to IIF format. Examples include IIF Transaction Creator and CSV2IIF.
  2. Install and Launch the Converter: Follow the installation instructions provided by the software, then open the tool.
  3. Import Your Excel File: Load your prepared Excel file into the converter.
  4. Map Excel Fields to IIF Format: Match Excel columns to the corresponding QuickBooks fields using the tool’s mapping features.
  5. Convert and Save the IIF File: Execute the conversion process and save the output as an .iif file.

Using QuickBooks Importer​

  1. Access the Importer Tool: Some versions of QuickBooks have built-in utilities capable of converting and importing .iif files directly.
  2. Import and Convert Data: Follow the prompts in QuickBooks to import your Excel file and convert it to IIF format within the application.

Importing the IIF File into QuickBooks​

Once you have your IIF file:

  1. Open QuickBooks: Launch your QuickBooks software.
  2. Go to the File Menu: Navigate to 'File' > 'Utilities' > 'Import' > 'IIF Files'.
  3. Select and Import the IIF File: Find and select your newly created IIF file, then follow the prompts to complete the import process.

Best Practices for IIF Conversion and Import​

  • Validate Data Post-Import: Check your QuickBooks accounts to ensure that all data has been imported correctly and reflects the intended transactions.
  • Backup Before Importing: Always create a backup of your QuickBooks data before performing any imports to safeguard against data corruption or loss.
  • Keep Excel Backups: Save a copy of your original Excel files before conversion in case you need to revisit the original data.

Conclusion​

Converting Excel files to IIF format for importing journal entries into QuickBooks can streamline financial data management and ensure consistency across your accounting tools. By following the steps outlined in this guide, you can efficiently handle the conversion and import process, maintaining accuracy in your financial records.