What QIF is
QIF is a plain text list of transactions, one field per line, each line beginning with a single letter that says which field it is. D is the date, T the amount, P the payee. A caret on its own line ends a transaction.
Quicken, and the long tail of banks and budgeting apps that still offer it because everything can read it.
What Markdown is
A Markdown table is rows of pipe-separated cells with a dashed rule under the header. Alignment is set by placing colons in that rule.
README files, GitHub issues, documentation sites, Obsidian and Notion.
What changes when you convert QIF to Markdown
Each block up to a caret becomes a row. Split transactions, which QIF writes as repeated S, E and $ lines, are joined into single cells rather than being spread across as many columns as the most-split transaction in the file has parts. The account type from the !Type header is added as a column.
Cells are padded so the source lines up in a plain text editor, pipes inside values are escaped, and line breaks inside a cell become <br> because a Markdown table row cannot span lines.
What carries over from QIF to Markdown
One property of the QIF has no home in Markdown, and it is worth knowing which before you convert.
QIF distinguishes a number from the text of a number; Markdown does not, so every value arrives as text and has to be re-parsed by whatever reads it next.
Markdown marks its header cells differently from its data cells, so the first row is written with that marker.