OFX bank rec - Sage should provide OFX file converters for clients - it's not fair to them that the download capability is there in the accpac program yet they cannot use it in the largest Canadian Bank (RBC) because the bank does not allow their clients to download in ofx format
by: carol c. | over a year ago | Financial Management
Comments
or provide a quicken or myob format
Yes, OFX is not worldwide. How about some regional work Sage? It cant be that hard!
Try this: http://www.bigredconsulting.com/aboutofxwriter.htm
A simple and inexpensive workaround that lets you create an ofx file from an Excel file. Every Canadian bank lets you at least download to CSV or Excel (or at the very least you can copy and paste from the banking site). I have used this successfully with several clients.
The problem is that many of the banks provide integration download options (Simply, Quicken, Quickbooks, etc.) on their personal accounts, but not on their commercial accounts.
I have similar problem. Royal Bank Canada only provides a text file. Accpac should have an OFX conversion/mapping tool. As an option, you may want to look at the Bank Reconciliation Tools from BSP Software (www.software.com.au)
In the meantime, I will continue to look for an OFX conversion/mapping tool, or use BSP's Bank Rec Tool and deal with my own macro conversion.
TextConverter from SimX (www.simx.com) is an excellent conversion/mapping tool for OFX, ADP and any other flat file data. I've used it on a few clients and it's still running in the background doing its thing for years now. You have to get into the nuts and bolts of the format you want to convert to, but there are some presets as well. Mostly you'll learn how uncooperative banks are regarding outward-facing standards that don't make them money.