Bank Statement Converters for QuickBooks Desktop Firms

For a bookkeeping firm with many QuickBooks Desktop clients, pick a converter that exports IIF as well as QBO and charges no fee per client. Conto exports IIF, QBO and Excel and prices per firm: unlimited clients and seats, with a monthly page allowance that pools across the firm (pricing). DocuClipper exports both QuickBooks Desktop formats and charges by the page.¹² MoneyThumb’s 2qbo Convert Pro writes QBO and CSV but not IIF.³ The comparison table below sets them side by side with ProperConvert.

A bank statement converter reads a PDF statement and writes the transactions into a file your accounting software imports. For a firm that keys dozens of client statements a month, the right one replaces the typing with a review.

This page compares the converters a QuickBooks Desktop firm is likely to try. It describes how each one charges and links to the vendor’s own pricing page, because prices change faster than this page does.

Table of Contents

• Best Converter for Firms With Many QuickBooks Desktop Clients
• PDF to QBO: What a QBO File Is
• What to Look For in a Converter
• Converters Compared
  • DocuClipper
  • MoneyThumb 2qbo Convert Pro
  • ProperConvert
  • Conto
  • Other Tools
• Which Tool Fits Your Firm
• Common Questions

Best Converter for Firms With Many QuickBooks Desktop Clients

The table compares the converters that write QuickBooks Desktop files, by the file types each one produces and how its price changes as the firm adds clients. Each competitor fact carries a footnote to its source. For current prices, follow the link to each vendor’s pricing page.

Three things decide the fit once a firm runs dozens of QuickBooks Desktop files:

1. Fees per client. Every new client adds statement pages, so check what else a plan charges for. A plan with a per-client or per-seat fee adds that fee on top of the pages; a per-firm plan with unlimited clients and seats charges only for the pages.
2. IIF as well as QBO. A QBO (Web Connect) file holds transactions from one bank and cuts payee names at 32 characters.³ A tool that also writes IIF gives the firm a second way into QuickBooks Desktop when those limits get in the way.
3. Checks. A bank statement shows a check’s number, amount and date but not the payee, so a converter that reads only the statement leaves each payee to be typed by hand (why statements leave out check payees). Conto reads the payee from each check image and matches the check to its cleared line on the statement.

PDF to QBO: What a QBO File Is

A .qbo file is a Web Connect file, the format banks offer for download into QuickBooks Desktop. Here “QBO” does not mean QuickBooks Online.⁷ QuickBooks Desktop cannot import a PDF, so a PDF to QBO converter reads the statement and writes that file for you.

To import it, go to Banking → Bank Feeds → Import Web Connect File and pick the bank account. The transactions land in the bank feed, where you match or add each one.⁸

Know three limits before you build a client’s month on QBO files:

• No account codes. The file holds dates, amounts and descriptions. You assign each transaction’s account in QuickBooks after import.⁷
• One account per file. MoneyThumb’s converter “will only process the first account found in a PDF Statement when creating a .qbo file.”³ Split a combined operating and payroll statement before you upload it, or check that your converter writes one file per account.
• Short payee names. “The .qbo file format does not permit payee names longer than 32 characters.”³

An IIF file goes straight to the register and carries the account, splits and class on each line, so you skip the bank feed matching step. Conto writes both, plus Excel. After either import, reconcile the account to catch a missing or duplicate line. If the bank offers no download at all, see bank feed alternatives.

What to Look For in a Converter

Test these on your own client files before you commit.

Any bank, no template. Every bank lays out its statement differently. A tool that needs a template per bank breaks on the small banks and credit unions your clients use.

Output files. QuickBooks Desktop takes a .qbo (Web Connect) file through the bank feed or an IIF file straight into the register. A CSV or Excel file needs a separate import step. For Desktop, look for PDF to QBO conversion or IIF output.

Scanned statements. Scanned files usually carry no text layer, which is why some converters return an empty result rather than an error (see why scanned bank statements need OCR). When a client sends a phone photo, ask for the PDF from online banking instead. If you scan paper, scan at 300 DPI, which ABBYY recommends for standard text.⁹

A check that the numbers tie. A converter can drop a line or flip a debit to a credit without an error. Look for one that compares the extracted lines to the opening and closing balances printed on the statement, so a missing line shows before you import.

Account coding. A QBO file carries no account codes, so every line is coded in the bank feed. A tool that codes lines against the client’s chart of accounts before export leaves you a review instead.

Check images. If your clients write checks, the payee is on the check image, not the statement. See check processing for accountants.

Converters Compared

DocuClipper

DocuClipper converts bank and credit card statements and says more than 10,000 professionals use it.¹⁰

What it does well: It reads scanned and digital statements and exports Excel, CSV, QBO, IIF and JSON.¹² Upload statements, review the extracted transactions, export. It also sells check extraction that reads the payee, amount, memo and MICR line from check images.¹¹

Where it struggles: User reviews note formatting and accuracy problems on complex documents.¹² A review by CapyParse, which sells a competing converter, says DocuClipper’s accuracy “relies heavily on having a pre-built template for your bank” and that “lesser-known banks, credit unions, and some international institutions can produce errors or missed entries.”¹³ Its price grows with the pages you process.

Pricing: Monthly or annual plans, each with a page allowance; annual billing costs less per month. See DocuClipper pricing.²

Best for: A firm converting standard statements from large banks.

MoneyThumb 2qbo Convert Pro

MoneyThumb’s 2qbo Convert Pro turns PDF bank and credit card statements into QBO files for QuickBooks Desktop, with assisted payee cleanup.³⁴

What it does well: It is a focused converter for a firm that wants QBO files and nothing more. The desktop version installs on your own computer.³

Where it struggles: It writes QBO and CSV, not IIF.³ From a PDF with several accounts it processes only the first one unless you pick another, and it cuts payee names at 32 characters.³ Its QBO files carry no account codes, so each line is coded in the bank feed after import. Neither its product page nor its help page mentions check images.

Pricing: A subscription with a set number of conversions per month or year, where unused conversions roll over at renewal. MoneyThumb also sells lifetime desktop licenses per user, with its PDF+ add-on included or sold apart. See MoneyThumb pricing.⁴

Best for: A bookkeeper who converts a few clean statements a month into QBO files and codes them in the bank feed.

ProperConvert

ProperConvert, from ProperSoft, converts PDF statements to QBO, IIF, OFX and CSV.⁵

Pricing: A monthly or yearly license per user or device, with unlimited pages. A team license covers three users or devices. See ProperConvert pricing.⁶

Best for: A small team that converts many pages and codes them in QuickBooks Desktop after import.

Conto

Conto is built for bookkeeping firms that key bank statements and check images into QuickBooks Desktop.

What it does: You upload a client’s statements, check images and scans of handwritten check stubs. Conto reads each statement and compares the extracted lines to the balances and totals printed on it, so a missing line is flagged instead of exported. It reads the payee, amount and memo from each check image and matches each check to its cleared line on the statement. It codes lines against the client’s chart of accounts and sends lines it is unsure of to review. Every number links back to the page it came from. Exports are IIF, QBO and Excel.

Where it is limited: It is newer than the other tools here, and it does not connect to banks. The firm uploads the documents.

Pricing: Per firm, plans from $79/mo with unlimited clients and seats (pricing).

Best for: Firms with check-heavy clients, scanned statements, and many QuickBooks Desktop files.

Other Tools

General document-processing platforms such as Klippa, Parsio and Nanonets read bank statements among many other document types.¹⁴¹⁵¹⁶ They suit a firm that builds its own workflow, often through an API, more than a bookkeeper who wants a Desktop import file. Hubdoc, owned by Xero, collects and fetches documents for cloud accounting software.¹⁷

Which Tool Fits Your Firm

Choose DocuClipper if your clients send clean statements from large banks and you are happy to pay by the page.

Choose MoneyThumb or ProperConvert if you want a QBO file per statement and will code every line in the QuickBooks bank feed.

Choose Conto if your clients write checks or send scanned or credit union statements, and you want each line tied to the statement balances and coded to the client’s accounts before export, or you run enough clients that a per-client or per-seat fee adds up.

Testing recommendation: Most tools offer free trials. Test with your actual client documents, starting with your hardest: a statement from each client’s credit union, a scanned one, and a long one with 100 or more lines. For each, check that the line count, amounts, debit or credit direction and dates match the PDF, and that the opening and closing balances tie. Accuracy on clean demo PDFs tells you nothing about real-world performance.

Common Questions

Which bank statement converter is best for a bookkeeping firm with many QuickBooks Desktop clients?

One that exports IIF as well as QBO and charges no fee per client. Conto prices per firm with unlimited clients and seats and a page allowance that pools across the firm, and exports IIF, QBO and Excel (pricing). DocuClipper exports IIF and QBO and charges by the page.¹² MoneyThumb 2qbo Convert Pro writes QBO and CSV but not IIF and charges by conversions.³⁴ See the table above.

What is a PDF to QBO converter?

A tool that reads a PDF bank statement and writes a .qbo Web Connect file, which QuickBooks Desktop imports through Banking → Bank Feeds → Import Web Connect File.⁸ See what a QBO file is.

How accurate are bank statement converters?

Vendors publish accuracy figures for clean, digital PDFs. Your clients’ scanned and credit union statements are the real test. Check that the extracted lines tie to the statement’s opening and closing balances before you import.

How do I get extracted data into QuickBooks Desktop?

Import a .qbo file through the bank feed, or an IIF file through File → Utilities → Import → IIF Files. A CSV or Excel file needs a separate import step.

What about check images?

Most bank statement converters read the statement and skip the check images. If your clients write checks, use a tool that reads check images or plan to type the payees yourself. See our check processing guide.

Ready to see how Conto handles your messiest client documents? Request early access and try it with the bank statements and check images that give your current process trouble.