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QFX is a proprietary variant of OFX used in Intuit's products. In Intuit products, OFX is used for Direct Connect and QFX for Web Connect. Direct Connect allows personal financial management software to connect directly to a bank OFX server, whereas in Web Connect, the user needs to log in and manually download a .qfx file and import it into Quicken.
A QFX file is a standard OFX file with additional fields to support a licensing fee paid by institutions to Intuit. In contrast, the standard OFX format is a free and open standard . [ 4 ]
QuickBooks Enterprise Solutions – for midsized companies that require more capacity, functionality and support than is offered by traditional small business accounting software; includes QuickBooks Payroll. QuickBooks Online – an online small business accounting and financial management solution [buzzword], offered in EasyStart, Essentials ...
It is commonly supported by financial institutions to supply downloadable information to account holders, especially by banks that support integration of Money or Quicken with their online banking. Not everybody, however, was, or is, happy with this replacement. Some banks dislike it because Quicken (Intuit) charges licensing fees to use QFX.
QuickBooks is an accounting software package developed and marketed by Intuit.First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
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