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Common file format?

It's definitely nice to have choices. I'd love to see a common file format for financial softwares. Just like ODF files can be opened by multiple office suites. ODF has also forced Microsoft to support it, even though only half-heartedly.

If this is too far-fetched, how about a common file-format that can be exported/imported without loss of any information? I have been struggling with QIF for too long and my major impediment to moving to KMM from MS Money.

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