QuickBooks Desktop 2020 Discontinued: How to Keep Importing Bank Transactions
QuickBooks Desktop 2020 was the first version hit by Intuit’s 3-year sunset policy. In May 2023, Intuit cut off all online services including Web Connect bank imports. Your bank’s .qbo file is still valid — QuickBooks just refuses to process it. The solution: convert your .qbo or .ofx file to .iif format with a free converter, then import via File → Utilities → Import → IIF Files. No upgrade to QuickBooks Online required.
Error Message
QuickBooks is unable to verify the Financial Institution information for this download. OR "This feature is no longer available for your version of QuickBooks."
What Happened to QuickBooks Desktop 2020?
QuickBooks Desktop 2020 was the first version to hit Intuit's 3-year sunset policy. In May 2023, Intuit cut off all online services including Web Connect bank imports, payroll, and software updates.
If you're still running QB Desktop 2020, you've likely noticed that downloading .qbo files from your bank and trying to import them results in errors. The file format hasn't changed — Intuit simply blocked the import pathway.
Many small businesses continue using QB Desktop 2020 because upgrading to QuickBooks Online means higher monthly costs and a completely different workflow. The good news is that you can still get bank transactions into QB Desktop 2020.
Manual Approach: CSV Import
- Download transaction data from your bank in CSV or QBO format
- If CSV: Format columns as Date, Description, Amount
- In QuickBooks, use File → Utilities → Import → Excel Files
- Map your columns to QuickBooks fields
- If QBO: Open the file in a text editor and manually extract data
- This process needs to be repeated each time you download new transactions
Automated Fix: QBO/OFX to IIF Converter
Skip the manual work. Upload your bank's .qbo or .ofx file to our free converter and download a .iif file ready for import. File → Utilities → Import → IIF Files. Done.
Convert Your File Free →Frequently Asked Questions
Can I still use QuickBooks Desktop 2020?
Yes. QuickBooks Desktop 2020 works for all offline functions: entering transactions, invoicing, reports, etc. Only online services (bank feeds, payroll, updates) were cut off in May 2023.
Should I upgrade to QuickBooks Online?
That depends on your business needs. QuickBooks Online has ongoing monthly costs and works differently. Many users prefer to stay on Desktop and use tools like our QBO-to-IIF converter to maintain bank import functionality.
Is it safe to upload my bank file?
Yes. Our converter processes your file in memory and returns the result immediately. No files are stored on our servers. The conversion happens server-side and the file is discarded after the response is sent.
Software Developer & AI Engineer based in Japan
Kenta built QBOConverter after encountering this exact QuickBooks error while supporting a client. He writes about practical fixes for accounting software edge cases.