Posted on December 2, 2016
FlexTeller and Quickbooks at WRCU
The question of exporting financial information from FlexTeller to QuickBooks comes up from time to time. QuickBooks is mainly a business application, but many of our self-employed and small business members use QuickBooks. While WRCU cannot help you with QuickBooks issues, we can hopefully clarify things for you so you can transfer banking information.
The short answer is that FlexTeller only exports to the QIF, QFX, OFX and CSV file types, this allows exporting to Quicken, Microsoft Money, Sage, Excel or Libre Office Calc, and a few other lesser-known financial management programs, but not QuickBooks. You need to check your application’s documentation to see if it will work with any of these file types. The US version of QuickBooks does not import any of these file types, although some foreign versions of QuickBooks will.
Still need to export to QuickBooks? There is a way. There are converters that you can purchase online, some with a free trial which we highly recommend doing, that will convert several of the file types exported by FlexTeller to a format compatible with QuickBooks. Look here for a list. WRCU does not recommend any one of these converters over another, but if you try one and have good luck with it we would like to know about it.
The inevitable question is “Why does WRCU not support direct export to QuickBooks”. The answer is a composite of reasons. This export used to be possible, but QuickBooks dropped support for it in US editions, instead requiring a hefty licensing fee from both FlexTeller and the WRCU in order to use their new file type. FlexTeller decided that there was not enough interest to pay the fee, and did not develop the export capability for QuickBooks. WRCU and some other credit unions have requested this functionality in FlexTeller.
With the WRCU online banking platform, FlexTeller, you can download your banking information in several formats so you can use it in your money management software. If you have not been using this feature, but would like to, we have some steps to follow.