QFX (file Format)
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QFX (file Format)
QFX is Intuit's proprietary version of the standard OFX financial interchange file format. QFX is used in Intuit's "Web Connect" and "Direct Connect" features to transmit and receive financial information over the internet. 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. Intuit's Quicken software will only import QFX files where the providing institution has paid the fee and in some cases passed quality tests, otherwise giving the error message "Quicken is currently unable to verify the financial institution information for this download". The same error message is given for Quicken users attempting to import previously downloaded QFX files with a Quicken subscription that has expired. Quicken 2017 was the last version sold with a 3 year expiration. See also *Open Financial Exchange Open Financial Exchange (OFX) is a data-stream format ...
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Intuit
Intuit Inc. is an American business software company that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi. Intuit's products include the tax preparation application TurboTax, personal finance app Mint.com, Mint, the small business accounting program QuickBooks, the credit monitoring service Credit Karma, and email marketing platform Mailchimp. more than 95% of its revenues and earnings come from its activities within the United States. Intuit offers a free online service called TurboTax Free File as well as a similarly named service called TurboTax Free Edition which is not free for most users. In 2019, investigations by ProPublica found that Intuit deliberately steered taxpayers from the free TurboTax Free File to the paid TurboTax Free Edition using tactics including Search engine privacy#Delisting and reordering, search engine delisting and a deceptive discount targeted to members of the military. ...
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Finance
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ...
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Open Financial Exchange
Open Financial Exchange (OFX) is a data-stream format for exchanging financial information that evolved from Microsoft's Open Financial Connectivity (OFC) and Intuit's Open Exchange file formats. History Microsoft, Intuit and CheckFree announced the OFX standard on 16 January 1997. The first OFX specification, version 1.0, was released on 14 February 1997. The specification allows for bank- and application-specific extensions, although only a subset is necessary to describe a financial transaction. Versions 1.0 through 1.6 relied on SGML for data exchange, but later versions are XML based. According to the main OFX site, "The specification is freely licensed, allowing any software developer to design an interface that will be supported on the front-end." Support in various countries Many banks in the US let customers use personal financial management software to automatically download their bank statements in OFX format, but most Canadian, United Kingdom and Australian banks do ...
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File Format
A file format is a standard way that information is encoded for storage in a computer file. It specifies how bits are used to encode information in a digital storage medium. File formats may be either proprietary or free. Some file formats are designed for very particular types of data: PNG files, for example, store bitmapped images using lossless data compression. Other file formats, however, are designed for storage of several different types of data: the Ogg format can act as a container for different types of multimedia including any combination of audio and video, with or without text (such as subtitles), and metadata. A text file can contain any stream of characters, including possible control characters, and is encoded in one of various character encoding schemes. Some file formats, such as HTML, scalable vector graphics, and the source code of computer software are text files with defined syntaxes that allow them to be used for specific purposes. Specifications ...
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Open Standard
An open standard is a standard that is openly accessible and usable by anyone. It is also a prerequisite to use open license, non-discrimination and extensibility. Typically, anybody can participate in the development. There is no single definition, and interpretations vary with usage. The terms ''open'' and ''standard'' have a wide range of meanings associated with their usage. There are a number of definitions of open standards which emphasize different aspects of openness, including the openness of the resulting specification, the openness of the drafting process, and the ownership of rights in the standard. The term "standard" is sometimes restricted to technologies approved by formalized committees that are open to participation by all interested parties and operate on a consensus basis. The definitions of the term ''open standard'' used by academics, the European Union, and some of its member governments or parliaments such as Denmark, France, and Spain preclude open standard ...
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Quicken
Quicken is a personal finance management application originally developed and offered by Intuit, Inc. Intuit sold Quicken to H.I.G. Capital in 2016, and H.I.G. sold Quicken to Aquiline Capital Partners in 2021. Quicken runs on Windows and Macintosh systems, though the data is incompatible between the two versions. Earlier versions ran on DOS and the Apple II. Versions of Quicken range from "starter" editions to more advanced offerings. Since 1998, each version has tended to have the release year in the product name (e.g., Quicken Basic 2008); before then, versions were numbered (e.g., Quicken 8 for DOS). Quicken is only available for purchase and use in Canada and the United States, and only in English. Product description The Quicken name typically refers to the core product offering of personal financial management software. The software includes financial planning activities that, historically, people may have done on paper – recording banking transactions, planning ...
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Filename Extensions
A filename extension, file name extension or file extension is a suffix to the name of a computer file (e.g., .txt, .docx, .md). The extension indicates a characteristic of the file contents or its intended use. A filename extension is typically delimited from the rest of the filename with a full stop (period), but in some systems it is separated with spaces. Other extension formats include dashes and/or underscores on early versions of Linux and some versions of IBM AIX. Some file systems implement filename extensions as a feature of the file system itself and may limit the length and format of the extension, while others treat filename extensions as part of the filename without special distinction. Usage Filename extensions may be considered a type of metadata. They are commonly used to imply information about the way data might be stored in the file. The exact definition, giving the criteria for deciding what part of the file name is its extension, belongs to the rules of ...
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Financial Software
Financial software or financial system software is special application software that records all the financial activity within a business organization. Basic features of this system not only includes all the modules of accounting software like accounts payable, accounts receivable, ledger, reporting modules and payroll but also to explore alternative investment choices and calculate statistical relationships. Features of the system may vary depending on what type of business it is being used for. Primarily, the goal of the financial software is to record, categorize, analyze, compile, interpret and then present an accurate and updated financial dates for every transaction of the business. Features of financial software Pipeline tracking Pipeline tracking is one of the key features of an accounting system and software for asset management. This provides summarized information on all the details pertaining to the potential investments that are being monitored. The system and software ...
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