My bank makes both OFX and QBO format files available. Does one have any advantage over the other as far as Manager bank statement import is concerned, or are they functionally equivalent in this context?
I googled QBO and it seems to be Quickbooks - so don’t use that. OFX is an industry standard file format and is what I have been using with Manager for over a year. So I would recommend using that.
My recommendation is try them both. Banks are notorious for their poor adherence to standards when it comes to statements. They have no incentive to adhere to any standard when not exchanging data with another financial institution. Most bank customers have no clue what any of the formats should contain, so they are ill-positioned to complain about content or format. See if what your bank puts in one format works better than what they put in another.
Do the imports to a test company, or be prepared to undo the imports from the History file. There is, by the way, nothing wrong with the QBO format. Many of the common financial data exchange formats were first developed by Intuit, including several that can be parsed by Manager.
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