What to do if Wave can't read your OFX, QBO, ASO, or QFX file

You may need to make minor changes to a file when uploading your bank statement in the file formats OFX, QBO, ASO, and QFX.  

If you received the error message "Wave needs you to make a small change to your file so we can read it," here is a breakdown of what happened. 

On your electronic statement, there is something called an encoding. This encoding allows Wave to know how we should "translate" what is in your file. If you received the above error, you will need to make a small change to your file and re-save the file.  

Here's how to edit your file: 

  1. Assuming you have saved the bank statement to your computer, you can then open the statement in any text editor (such as Notepad). To do this, select the file, right click and select Open With. You can then select a recommended program or text editor from the list your computer gives you. 
  2. At the top of the bank statement file, you should see something similar to ENCODING:USASCII or ENCODING:UTF-8. notepad.png
  3. If it says USASCII (as it does in the example above), then change it to UTF-8. If it says UTF-8, then change it to USASCII. 
  4. Click Save and you are done! You can go back into Wave and upload your statement.