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Bank statements into MYOB

MYOB reads OFX, QIF and CSV. The format is rarely the problem — the sign of the amount column is.

Which format to use

Start here

OFX for MYOB

OFX states the sign of each transaction explicitly, which removes the one thing MYOB imports most often get wrong.

PDF bank statement to OFX

QIF

Long supported by AccountRight, and a reliable fallback where OFX is refused.

Convert to QIF

CSV

When you want to see and adjust the rows before importing.

Convert to CSV

MYOB’s CSV import expects withdrawals as negative

MYOB reads a single signed amount column, where a withdrawal is negative and a deposit positive. Statements that print separate debit and credit columns, or that show withdrawals as positive numbers under a "Debit" heading, import with every transaction on the wrong side — and the totals still look plausible, so it is easy to miss until reconciliation. Our CSV writes one signed column with withdrawals negative, the convention MYOB expects.

How to import it

  1. 1Convert the PDF statement to OFX, or to CSV if you want to review first.
  2. 2In MYOB Business: Banking → Bank transactions → Import statement.
  3. 3In AccountRight: File → Import Data → Bank Statements.
  4. 4Match the imported transactions to existing entries before allocating.

Questions

Does MYOB accept QBO files?
No. QBO carries an Intuit bank ID MYOB has no use for. Plain OFX is the equivalent format MYOB does read.
Why are my deposits showing as withdrawals?
The amount column’s sign convention. MYOB wants withdrawals negative in a single column; a file with separate debit and credit columns, or unsigned amounts, inverts on import.

Every format we write

OFXQIFCSVAll formats

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