Fixing common QBO / Web Connect import problems

"QuickBooks is unable to verify the Financial Institution information"

QuickBooks Desktop checks the bank ID (INTU.BID) in a .qbo file against its list of supported banks. Bankfold uses a widely accepted default; if your version rejects it, set INTU.BID to your own bank's ID under QuickBooks Desktop / Quicken options and convert again.

QuickBooks wants to create a new account

QuickBooks links .qbo files to accounts by the account number in the file. Use the same account number in Bankfold every time for the same account.

Duplicated transactions

Bankfold's transaction IDs are stable, so re-converting the same data is safe. Duplicates usually come from mixing files from different converters or from bank downloads plus converted files for the same dates.

Purchases show up as deposits

Your export lists money out as positive numbers (common for credit cards). Tick Flip signs and set the account type to Credit card.

Dates are wrong (e.g. Feb 1 instead of Jan 2)

Set Dates to MM/DD/YYYY or DD/MM/YYYY explicitly. Bankfold warns you when a file's dates could be read either way.

Last reviewed 2026-10-27. Menu names can differ between software versions.