How to Import OFX Files Into Microsoft Excel
OFX (an acronym for open financial exchange) is a file format used to house financial and banking information (such as bank statements, account activity and transaction history). The vast majority of banking institutions offer customers the ability to download OFX files of their banking activity for analysis in financial and tax preparation software. Although Microsoft Excel does not support importing OFX files out-of-the-box, you can still open the file since the data is stored as XML. Excel can natively read any XML file and will automatically parse the file into an easy-to-read format.
Launch Excel, click "File" and select "Open."
Click the "All Excel Files" drop-down menu and select "All Files."
Navigate to the location of your OFX file, select the file and click "Open." An Excel prompt reporting that the OFX file is a different format will display. Simply click "Yes" to continue.
Select "As an XML table" and then click "OK." An Excel prompt notes that a schema for the table does not exist but that Excel will generate one for you based on the data. Simply click "OK" to continue.
Tips & Warnings
- Some OFX files contain additional information that prevent the file from importing into Excel correctly. If your file is not displaying correctly, open the OFX file using Notepad or another text editor. Delete anything that appears before the
tag and then place directly before the tag. This identifies to Excel that the data is stored in a standard XML format and ensures that the data will be imported in a uniform fashion when you open it in Excel.
- OFX files contain a wealth of information pertaining to your financial activities. Depending on your financial institution, data column labels might not be the most user friendly. It is a good idea to review the data and label each column with a more intuitive name. Once you've configured your file in Excel, be sure to save it as an Excel document. If you need to include data from future OFX files, simply open them in Excel and then copy and paste the data into your master Excel document.