Convert OFX to MNY

Understanding OFX and MNY file formats

OFX (Open Financial Exchange) is a standardized file format used for exchanging financial data between institutions, accounting software, and users. It is commonly used for importing bank statements and transaction data into personal finance applications.

MNY is the proprietary file format used by Microsoft Money, a personal finance management software. MNY files store account information, transactions, and other financial data in a format specifically designed for Microsoft Money.

Why convert OFX to MNY?

Converting OFX to MNY is necessary when you want to import financial data from banks or other sources (provided in OFX format) into Microsoft Money, which only accepts MNY files for direct data import.

How to convert OFX to MNY

Direct conversion from OFX to MNY is not natively supported by most software, as MNY is a proprietary format. However, you can use third-party tools or a two-step process:

1. Import the OFX file into Microsoft Money using the File → Import → Downloaded Statement option. Microsoft Money will read the OFX file and incorporate the data into your existing MNY file.
2. If you need to create a new MNY file, start a new file in Microsoft Money and then import the OFX data as above.

Alternatively, you can use specialized conversion software to facilitate the process.

Best software for OFX to MNY conversion

• Microsoft Money: The most reliable way is to use Microsoft Money itself. Use File → Import → Downloaded Statement to bring OFX data into your MNY file.
• MoneyThumb 2QFX Converter: This tool can convert OFX files to QIF or other formats that Microsoft Money can import, which then get saved into the MNY file.
• ProperSoft OFX2QIF: Converts OFX to QIF, which can be imported into Microsoft Money, updating your MNY file.

Tips for successful conversion

• Always back up your original MNY file before importing new data.
• Check for duplicate transactions after import, as some software may re-import existing data.
• Ensure your version of Microsoft Money supports OFX import (most versions do).