Demystifying IIF imports
Quickbooks’s IIF import feature is one of the utilities which is very often under-used. The reason is due to its apparent complexity. Yet it is a very easy and reliable way to import transactions.
Most users are quite comfortable with importing excel data. However, such excel imports are limited to lists such as stock items, customers information, etc. You cannot import transactions through the excel import feature. You need to use the IIF import when it comes to transactions.
IIF stands for Intuit Interchange Format but it is no more than a text format . In fact it is a delimited text file. It can be created in excel and saved as such. I will elaborate on this in my next post in this category.