A businessman always wants to manage their accounting safely and in the fastest way. For that, they use the QuickBooks Desktop. It is designed by Intuit to manage accounts for small to mid-sized businesses. But when they need to import data to QuickBooks Desktop, they can transfer the data only in IIF format files. Import IIF files in QuickBooks Desktop is best idea for your business. Intuit Interchange Format(IIF) files are designed for QuickBooks for importing or exporting the accounting, transactions, lists and master data with a fast and error-free data transfer technique. So in this blog, we are discussing how to import IIF Files in QuickBooks Desktop, its advantages and step by step guide in detail.
What is an IIF File?
IIF File stands for Intuit Interchange Format files. It is a text-based file where you can store the accounting and transactional data. You can open this file in any Excel, Notepad or Spreadsheet software. It is especially designed for QuickBooks to make data transfer to QuickBooks Desktop easier. You can easily convert the chart of accounts, vendor lists, customer details, transaction invoices, bills and payments into IIF files.
Reason to Import an IIF File in QuickBooks Desktop
In business accounting, sometimes you need to migrate the data from other software to QuickBooks. In that situation, IIF file can help you and take a lead role in file transferring to QuickBooks by converting the transaction data into an IIF file. There are some major reasons to import an IIF file into QuickBooks Desktop.
- Data Migration: In the time of data migration IIF file can help you as a bridge for transforming data to QuickBooks.
- Time-Saving: Its speed-transforming technique makes the data transfer easy and also saves your time.
- Error Reduction: When you transfer the data in an IIF format file, that means you transfer the accurate data. So there are zero possibilities to find any errors.
- Bulk Upload: If you need to upload hundreds of transaction files at once, then the IIF import is the best and fastest solution.
Steps to Import IIF Files in QuickBooks Desktop
To import IIF files in QuickBooks Desktop, follow the steps below.
- Step 1: To import IIF files in QuickBooks Desktop, you need to open the QuickBooks Desktop software on your system.
- Step 2: Then open the company file in which you want to import IIF data. Confirm that you are not opening another company file by mistake.
- Step 3: Now there will be a “File” option in the top left corner, click on it. A dropdown menu will open, and the Utilities option will be shown under the File menu.
- Step 4: There, you will have to select the Import → IIF Files option. Now, a window will open where you will have to select your IIF file.
- Step 5: Now, open the place in your system where you have saved the file and select the file. Click on open.
- Step 6: Now, QuickBooks will start processing the IIF file to import all the data to QuickBooks Desktop.
- Step 7: At the end, you will receive a confirmation message that the IIF file has been successfully imported into QuickBooks Desktop.
- Step 8: If any error occurs, then its error message will also be shown on your screen. Then carefully read the error and try to resolve it.
Common Errors During Import IIF Files into QuickBooks Desktop
Error is not only an issue, it’s a lesson where you can learn from your mistakes. So for that reason, we have to know about the common errors that are some possibilities to occur during the time to import IIF Files in QuickBooks Desktop.
- Invalid File Format: If an IIF file contains incorrect formatting or missing headers, then open the file in Excel and verify the headers.
- Some Transactions Not Imported: If you find any duplicate or incomplete data, then correct the data and try again.
- File Too Large: If the IIF file contains too many records, then partition it into small IIF files.
- Unrecognized Account Name: If the account name does not exist in QuickBooks, which is given in the chart of accounts, then first create an account, then import the IIF files in QuickBooks Desktop.
Advantages of Import IIF Files in QuickBooks Desktop
You can get many benefits by import IIF files in QuickBooks Desktop, which is the maximum time used to simplify business accounting. There you got benefits like.
- One click to bulk and fast data transfer.
- Its multiple lists and transaction support capacity make it flexible.
- It is compatible with edit access in local editors like Excel and Notepad.
- Everyone can use it because of its user-friendly nature.
FAQs
How do you edit IFF files?
Export the file on your system, then open the Excel application and open this IIF file, and start editing.
What is the IIF file format for QuickBooks Desktop?
IIF files are used in a text file format that QuickBooks Desktop uses to import and export financial data.
Conclusion
Importing IIF Files into QuickBooks Desktop is the best way to transfer all accounting transactions fast and safely with full accuracy. If you take a backup of data before importing IIF Files into QuickBooks Desktop, then there won’t be any problem. It always saves your time, reduces errors and loads data into Intuit QuickBooks Desktop in a systematic format. If you have any problem import IIF Files in QuickBooks Desktop, then contact QuickBooks Experts for an instant solution.